September 30, 2009 14:00 ET
SEC Requirements Postpone RTGV/NMTV Close
NEW YORK, NY--(Marketwire - September 30, 2009) - RTGV (OTCBB: RTGV): The officers of RTGV and
NMTV have announced that it has to defer the closing of the share exchange
between RTGV and ANHL, NMTV et al, for a period not expected to be longer
than six weeks in order for NMTV to complete the acquisition of BMC and to
integrate all of the reporting required into the Super 8-K which has to be
produced 4 days after the share exchange is completed. As announced on
August 3, 2009, RTGV has met all of its Conditions of Closing, but because
of the imminent acquisition of BMC, announced on September 24, 2009, NMTV
is unable to meet its Conditions. The management of NMTV seriously
considered passing on the acquisition of BMC or delaying it until after the
scheduled closing, but all agreed that this would adversely affect
investors' ROI, and we have assured shareholders that we would be
opportunity-driven. If the acquisition was post the share exchange this
would be a public company merger and subject to the increasingly stringent
SEC requirements, together with associated cost and would have been a major
distraction in the execution of the Business Plan. The additional time
required is not expected to affect the operational ability of NMTV in any
way.
NMTV's President, Domenic Hawes-Fairley, explained: "It's frustrating to
everyone that this deal is not closing today. The entire management team is
aware that this announcement will not be popular in the market, but we
genuinely believe the shareholders' patience will be well worth it.
RTGV's shareholders should be reassured that the business development plans
announced during the last week will be quickly integrated into the business
plan and provides entry into the retail industry segment. There is no
adverse impact, only positive growth. This is a hiccup, not a heart attack
and we're going full steam ahead."
About NMTV: RTGV, through NMTV, has a new media business model which
leverages an exclusive technology to deliver multicast transmissions of TV
quality transmissions without buffering or freezing. This is a significant
technological breakthrough and provides a competitive edge to its
shareholders. The evolving venture originally included a 44,000 square foot
studio outside London which is equipped to service traditional film and TV
requirements, while also being refurbished to attract state-of-the-art
customers. This asset has been sold. A (new media) studio has been
identified in Bristol, England which provides a better base, with all
ancillary services, i.e. post-production and music gallery facilities,
already available. Broadband is the global growth engine of the 21st
century for new media. NMTV's technology and multiple revenue steams from
its television production company to a payment systems product with 3
brands, epaypoint, Web-Pay and iPAYU to manage consumer cash flow through
the Internet in the most cost effective and secure methodology, positions
it well for the future through both organic growth and growth by
acquisition. NMTV's objective is to become a leader in new media and reward
its stakeholders: shareholders, customers, suppliers and business
development partners. For all available Due Diligence, visit our website
at: www.rtgventures.com
Safe Harbor Provisions: The foregoing contains certain predictive
statements that relate to future events or future business and financial
performance. Such statements can only be predictions, and the actual events
or results may differ from those discussed due to, among other things,
those risks described in RTGV's reports filed with the SEC. Opinions
expressed herein are subject to change without notice. This document is
published solely for information purposes, and is not to be construed as an
offer to sell or the solicitation of an offer to buy any securities in any
state. Past performance does not guarantee future performance. Additional
information is available upon request.