|
MediaRing Secures Shareholders' and IDA Approvals for Voluntary Conditional Cash General Offer for Nasdaq-listed Pacific Internet
27 April 2006 MediaRing Ltd (Bloomberg: MR SP) ("MediaRing") announced that it has today received shareholders' approval to make a voluntary conditional cash general offer (the "Offer") to acquire all the issued shares in the capital of Nasdaq-listed Pacific Internet Limited (Nasdaq: PCNTF) ("PacNet").
MediaRing has also today received an unconditional approval from the Info-Communications Development Authority of Singapore ("IDA") in respect of the proposal by MediaRing to make and implement the Offer.
On February 27, 2006, MediaRing announced its intention, subject to the satisfaction of certain conditions, to make a voluntary conditional cash general offer to acquire all the issued PacNet shares, other than those already owned by MediaRing.
With today's approvals by both shareholders and IDA, MediaRing has satisfied the conditions for making the Offer. MediaRing will make a formal announcement of the Offer as soon as practicable, and the Offer will commence 14 to 21 days following such announcement.
The Directors of MediaRing have taken all reasonable care to ensure that the facts stated and all opinions expressed in this release are fair and accurate and that no material facts have been omitted from this release, and they jointly and severally accept responsibility accordingly.
Where any information has been extracted from published or otherwise publicly available sources (including, without limitation, information relating to PacNet), the sole responsibility of the Directors of MediaRing has been to ensure through reasonable enquiries that such information is accurately and correctly extracted from such sources or, as the case may be, accurately reflected or reproduced in this release.
MediaRing has not yet commenced the Offer. The Offer will be made only pursuant to an offer to purchase and related materials that MediaRing presently intends to distribute to holders of PacNet shares. Holders of PacNet shares should read carefully the offer to purchase and related materials when they become available because they will contain important information. Holders of PacNet shares and investors may download a free copy of the Tender Offer Statement on Schedule TO, the offer to purchase and other documents that MediaRing intends to file with the U.S. Securities and Exchange Commission at the SEC's website at http://www.sec.gov.
About MediaRing
With offices in Singapore, Malaysia, Indonesia, Shanghai, Beijing, Hong Kong, Taiwan, Japan and Sunnyvale (USA), MediaRing is a leading VoIP telephony service provider in Asia and enjoys a significant share of the global pure-play VoIP market. Through its strong technological capabilities and extensive distribution network, MediaRing brings high-quality voice services to carriers, enterprises, service providers, and consumers with its wide range of service offerings. Its extensive partnerships with carriers around the world allow call terminations worldwide. As a pioneer in VoIP services with unique proprietary technology, MediaRing derives more than 95% of its revenue from outside Singapore.
About Pacific Internet
Based on its public filings, Pacific Internet Limited is the largest telco-independent Internet communications service provider by geographic reach in the Asia Pacific region. PacNet has direct presence in Singapore, Hong Kong,
China, the Philippines, Australia, India, Thailand and Malaysia. PacNet delivers a comprehensive suite of data, voice and video services to both corporate business and consumer customers.
Source: prnewswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
Related Internet Articles
|
 | Unlimited Domain Hosting Only $10 a Month
Founded in 2002, Hostgator.com, LLC has quickly grown from its humble beginnings in Boca Raton, Florida into one of the most respected names in the web hosting industry. Renowned for exceptional customer support and unrivaled in terms of customer satisfaction, Host Gator is poised to take the lead in the highly competitive and densely populated world of web hosting providers.
For more information!
Click Here |
|
|
 | Got Root?! 1&1 Dedicated Servers starting at $99 mo.
We guarantee the highest product quality, top security, and unshakeable reliability. 1&1’s advanced Data Centers have been built from the ground up using the most advanced technology available, giving our global network a strength that is beyond doubt. The power and stability of 1&1’s systems allows us to be first to market with web products that are innovative yet dependable.
For more information!
Click Here |
|
|
 | Get a full dedicated server starting at just $29.95!
ServerPronto is a dedicated hosting subsidiary of Infolink, one of a few profitable Data Center Corporations in the world. From it's beginning in January 1999, Infolink served the "Value Orientated" segment of the Internet market. Not by offering a sub-standard product at a low price, but by offering a top-quality, feature rich product at an incredible price. Since the beginning Infolink has enjoyed dramatic growth while other's in the industry have suffered. We operate our own network in the USA and maintain redundant Fiber Optic Rings which allow us to directly peer with Tier 1 Internet Backbones.
For more information!
Click Here |
|
|
