Printer Friendly
The Free Library
19,585,946 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

American Communications Discusses Potential International Telecommunications Division Spin-off.


Business Editors

SARASOTA, Fla.--(BUSINESS WIRE)--Jan. 11, 2001

American Communications Enterprises, Inc. ("ACEN ACEN Anglican Communion Environmental Network
ACEN Assembly of Captive European Nations
")(OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:ACEN) today announced that it is in discussions to spin-off its international network division into a separate publicly traded company publicly traded company

A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market.
 upon the consummation of the Swift Note Purchase Agreement.

Officials for American Communications stated that "discussions specific to the potential spin-off are based upon the Companies belief that there is significant value associated with the international network termination carrier agreements that it has with Pensat International and GRG, Inc. The potential spin-off would provide the Companies investors with additional value and ownership in two separate public companies; ACEN would consist entirely of Swift Telecommunications, Inc. ("STI STI systolic time intervals. ") and its acquisitions under the Note Purchase Agreement, and the spun-off New Public Company would be an International Telecommunications Company with Agreements that provide favored nations pricing advantages into countries such as Spain, Mexico, Brazil, Syria and South Korea."

STI is a telex, Fax, Data VOIP, Outsource and Facility Management Company headquartered on Long Island, New York with sales offices and computer facilities in New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 and 46 countries overseas. STI was formed to acquire, outsource and perform facilities management for the telex, fax VOIP and Data business of retail as well as PTTs and wholesale carriers around the world.

Swift announced on December 14, 2000 that it had finalized a Note Purchase Agreement with American Communications Enterprises, Inc., a NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
 OTC Bulletin Board OTC Bulletin Board

An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system.
 Company with symbol ACEN. ACEN expects to complete the acquisition of Swift Telecommunications, Inc. during the first quarter of 2001. Upon the consummation of the acquisition of STI by ACEN, which is subject to certain conditions that are currently being completed by ACEN, the Xtreme Global Communications division will be purchased by ACEN and become an operating division of ACEN. The Company believes that it will satisfy the conditions of the Note Purchase Agreement, and the acquisition of STI will be consummated within the terms of the Agreement.

For additional information go to www.americonnex.com or contact Steve Wagoner at 941.923.1949.

Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. Actual results could differ materially from such statements expressed or implied herein. Factors that might cause such a difference include, among others, competitive pressures, the company's ability to successfully implement traffic, constantly changing technology, associated with recently formed entities. As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jan 11, 2001
Words:420
Previous Article:Hartford Health Care to Implement Eclipsys' Sunrise Clinical Manager Solution in Three Hospitals.
Next Article:Neartek, Inc. Announces Merger with More Solutions, Inc.; More Solutions, Inc. Will Operate Under the Neartek, Inc. Name.



Related Articles
Spinoff to permit employee stock purchases.
COMPANY SPINS OFF SUCCESSFUL DIVISIONS.
BUSINESS NOTES MICROWAVE FIRM SUES COMPETITOR.
NEW TABLE LISTINGS ABOUND; NAME, TRADING SYMBOL CHANGES REFLECT CORPORATE ALTERATIONS.
RJR NABISCO TO GET OUT OF TOBACCO SALES; JAPANESE TO BUY CIGARETTE BUSINESS OUTSIDE U.S.
LITTON SPINOFF NOW ITS NEIGHBOR.
SABRE INC. SPINOFF ANNOUNCED.
FROM HERE TO INFINITY; INVESTORS FLOCK TO BUY BROADCAST STOCK.
PEPSICO PLANS STOCK SPINOFF.
A chip off the old block: Equity analysts say hard market spurs property/casualty spinoffs. (Briefing).

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles