Hey folks...MDTV
Level 2, look at difference between best ask and next ask.
Bought a load at limit .78125..should spike to over $1 once this ask is gone on this news:
------
MDTV Announces Joint Venture With Antech (Hong Kong) to Provide Digital
Satellite TV, High Speed
Internet, Telephony and Security Products to the Asia Pacific Market
Business Editors
CHAI WAN, Hong Kong SAR and RICHMOND, British Columbia--(BUSINESS
WIRE)--Dec. 1, 1999--
OTC:BB:MDTV
CUSIP: 582 828 109
mduc.com
Antech (Hong Kong) Ltd. ("ANTECH"), a wholly owned subsidiary of
Kingly Enterprises Inc., and MDU Communications International, Inc.
("MDTV") have recently signed a Memorandum of Understanding to exploit
various technologies in the Asia Pacific marketplace. The purpose of
the understanding is to structure a strategic relationship between
MDTV and ANTECH to provide high speed Internet, telephony and security
products in the Hong Kong SAR, Macau, Taiwan and the People's Republic
of China. MDTV will also assist ANTECH in exploiting SMATV, Digital
Satellite TV and Pay Per View TV in the Asia Pacific region.
The parties will enter into a joint venture agreement (the "Joint
Venture") early in January 2000, with an expected signing ceremony and
media launch in Hong Kong slated for January 18, 2000. The Joint
Venture will incorporate a Hong Kong corporation for the purposes of
operating the Joint Venture. ANTECH will have a 75% interest in the JV
corporation and be responsible for all funding requirements of the
Joint Venture, sourcing equipment supply in Asia and adapting MDTV's
knowledge and expertise to the cultural and market differences between
Asia and North America. MDTV will have a 25% interest in the JV
corporation and be responsible for the new technologies, management
and marketing expertise, North American supplier relationships and
beta site management.
Mr. Derek Cheng, Chairman and Chief Executive Officer of ANTECH
said, "We are pleased with our new strategic relationship with MDTV,
the strength of its operational management and its relationships with
technology suppliers in North America. We have a similar business plan
to MDTV in the area of Digital Satellite TV and we hope that we will
be able to deploy the new technologies on a similar timeline as MDTV
deploys these technologies in North America."
"This JV corporation will provide MDTV with access to the entire
Asia Pacific market. We will position the JV corporation as a multi
media provider of bundled television, internet, telephone and security
services to the massive multi dwelling unit market in these regions.
We anticipate that ANTECH will announce shortly financing for the
Joint Venture's short to medium term needs. That will allow us to
deploy with no funding commitment or guarantees required of MDTV."
said Sheldon Nelson, MDTV's Chairman and Chief Executive Officer.
As a pioneer in the communication satellite business, ANTECH has
been dedicating itself to encompass system integration, product
distribution and manufacturing in telecommunications and related
fields in the Asia Pacific region. In the last decade, there has been
a rapidly increasing demand for communication equipment and
technologies in many countries of Asia. Among others, these
technologies include satellites, terrestrial microwave relay systems,
land mobile radio and rural telephony. To capitalize on this market,
ANTECH has already set up representative offices in ten major cities
of China, those being Beijing, Shanghai, Guangzhou, Tianjin, Dalian,
Chongqing, Shenzhen, Hangzhou, Xian and Xiamen. To increase it's
consumer appeal, ANTECH is continuing to establish businesses in
various fields within the realm of telecommunications. With the
support from its strategic partners, ANTECH is able to provide
diversified services to its customers.
As a strategic partner, MDTV will be able to offer it's
expertise, by facilitating the delivery of high speed internet,
telephony and security products, SMATV, Digital Satellite TV and Pay
Per View TV in this vast market. This underserved market is comprised
of a potential 2 million multi-dwelling units in Hong Kong alone. The
size of the potential market in China is staggering. MDTV looks
forward to a long and prosperous relationship with ANTECH. Through the
Joint Venture, ANTECH and MDTV hope to become the leaders in
facilitating the delivery of these new technologies in the Asia
Pacific market.
The MDTV's filings, including current financial reports, can be
accessed through the EDGAR database at www.sec.gov. For additional
information please see www.mduc.com or contact Investor Relations.
On behalf of the directors of On behalf of the directors of
MDU COMMUNICATIONS INTERNATIONAL, INC. ANTECH (HONG KONG) LTD.
signed "Sheldon Nelson" signed "Derek Cheng"
Sheldon Nelson, Director Derek Cheng, Director
"Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995: This release contains forward looking statements
that are subject to risks and uncertainties, including, but not
limited to, the impact of competitive products and pricing, product
demand and market acceptance, new product development, reliance on key
strategic alliances, availability of raw materials, the regulatory
environment, fluctuations in operating results and other risks
detailed from time to time in the MDTV's filings with the Securities
and Exchange Commission. |
