SOURCE: Intelligent Communication Enterprise Corporation

November 23, 2012 04:45 ET

Intelligent Communication Enterprise and One Horizon Group Progress Towards Closing

SINGAPORE and LONDON--(Marketwire - Nov 23, 2012) - Intelligent Communication Enterprise Corporation (OTCQB: ICMC) (ICE Corp) and One Horizon Group Plc. who entered into an Agreement of Securities Exchange in October 2012, jointly announced today that ICE Corp.'s offer has been accepted by 98% of the One Horizon Group shareholders. One Horizon Group are expecting 100% acceptance of the offer. The shareholders of One Horizon Group were offered 175.14 shares of ICE Corp's common stock in exchange for each One Horizon Group share. The transaction is subject to standard closing conditions contained in the Agreement of Securities Exchange. The companies are now working through certain compliance requirements in final preparation for closing which is expected to take place shortly.

"We are extremely pleased with the response from our shareholders which we regard as a resounding agreement with the company's decision to seek to be quoted in the US markets," stated Mark White, the CEO of One Horizon Group, who will assume the position of CEO for ICE Corp. upon closing. "One Horizon Group is well on track with its business plans and is currently trading to expectations. Upon closing this deal with ICE Corp we intend to actively pursue the objective criteria for listing on the NASDAQ Capital Market. We believe that a NASDAQ listing, instead of continued quotation on the OTC markets, will be hugely beneficial to both One Horizon Group shareholders and the existing ICE Corp shareholders," added Mr. White.

"One Horizon Group is a solid company with outstanding innovative products. I am pleased for all our shareholders, and would like to thank them for their patience and support, which I believe will be rewarded with much better prospects following the closing of this deal with One Horizon Group," commented Victor Jeffery the current CEO of ICE Corp.

About One Horizon Group

One Horizon Group's business is to optimize communications over the Internet. It is the parent company of Horizon Globex. Horizon Globex develops the Group's Horizon solution, which is the world's most bandwidth-efficient mobile VoIP platform for smartphones, and also offers a range of other optimized data applications including messaging and mobile advertising. It is an ISO 9001 and ISO 20000-1 certified company. The Group has operations in the Switzerland, UK, China, Russia, India, Thailand, Singapore and Hong Kong. For more information on the company, its products and services, please visit 

About Intelligent Communication Enterprise

Intelligent Communication Enterprise Corp. is a Pennsylvania, USA Corporation and is in the media and publishing business. ICE Corp stock trades in the over-the-counter market in the United States of America and is currently quoted for trading on the OTCQB market under the ticker symbol ICMC. For more information about ICE Corp. visit

Safe Harbor Statement

This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as the risk that the Agreement of Securities Exchange does not close. Additional risks and uncertainties are identified and described in Ice Corp's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. ICE Corp does not undertake, and ICE Corp specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.

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