Some news today
VDC Communications' Warrants to Purchase Shares of
Metromedia China Corp. Extended
Tuesday, July 13, 1999 01:02 PM
GREENWICH, Conn., July 13 /PRNewswire/ -- VDC Communications, Inc.'s (Amex: VDC) warrants to purchase 4 million shares of Metromedia China Corporation "MCC") common stock at $4 per share have been extended for 2 years past the original expiration date, to September 13, 2001.
VDC currently owns 2 million shares of common stock of MCC. MCC is a private company with telecommunications and e-commerce joint ventures in China. Metromedia International Group (Amex: MMG) is the majority shareholder of MCC, and has issued public documents disclosing certain details regarding MCC's joint venture activities. VDC makes no representations or warranties regarding the completeness or accuracy of any statements or projections contained in MMG publicly filed documents and press releases and specifically disclaims any liability or obligation therefor.
VDC is a facilities-based international telecommunications company, focused on international telecommunications gateways and long distance carrier services. VDC currently carries international telecommunications traffic, has points of presence in major US cities, and is developing opportunities in other parts of the world.
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements made by VDC involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of VDC to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Such factors include, but are not limited to, uncertainty as to whether VDC will secure the capital resources necessary to implement its planned operations, as well as risks associated with international operations, dependence on licenses, governmental regulations, technological changes, intense competition, dependence on management and other risks described in VDC'S Registrati on Statement on Form S-1 (No. 333-80107). Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. VDC disclaims any obligation to update any of the forward-looking statements contained herein to reflect any change in VDC's expectation with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements.
For further information, you may access VDC Communications, Inc.'s web site at vdccorp.com, or call Clayton F. Moran, Vice President -- Finance, at: Telephone: 203-869-5100;
Fax: 203-552-0908.
SOURCE VDC Communications, Inc.
CONTACT: Clayton F. Moran of VDC Communications, 203-869-5100
Quote for referenced ticker symbols: VDC, MMG |
