13 July 2004Australian Stock ExchangeBrisbaneWytomic Signs Heads...

13 July 2004
Australian Stock Exchange
Brisbane
Wytomic Signs Heads of Agreement with Veritel
Wytomic Limited (formerly Quadtel Limited) (ASX Code: WYT):-
The board of Wytomic is pleased to announce that it has signed a Heads of
Agreement to acquire 100% of the shares of Veritel Australia Pty Limited. This
agreement will be subject to due diligence on both Veritel’s and Wytomic’s
behalf.
Veritel is a profitable Australian communications company providing fixed and
wireless broadband, mobile voice, Web and email server hosting as well as
domain name registration services to a wide spectrum of commercial
organisations, and residential users. Veritel is a profitable provider of nationwide
broadband Internet, mobile telephony, and fixed voice services. Veritel holds
contracts with major telecommunications providers including Comindico,
Hutchison, and Personal Broadband. In addition, Veritel is one of the largest
providers of licensed spectrum wireless broadband services in Australia through
its Freedom Wireless Broadband product. Veritel’s Freedom Wireless enables
users to gain secure, reliable access to the Internet and other networks at up to
1Mbps throughout most of metropolitan Sydney, rolling out across all major
Australian city centers over the next 6-18 months.
Veritel will bringing a profitable and fast growing business base as well as cash
reserves which represents to the current shareholders of Wytomic a realistic
opportunity for return on investment. More information with be forthcoming in
the near future as the agreement and due diligence progresses.
BRUCE IND
Director and Company Secretary
Phone 0404 030390
Fax 02 8080 8208
Email [email protected]