EXHIBIT (3)
SECURICOR JOINT VENTURE IN WIRELESS TELEPHONY IN USA
Securicor Group plc and Security Services plc (together "Securicor")
have reached agreement in principle with Intek Diversified Corporation
("Intek") of California and Xxxxxxxx Capital Limited ("Xxxxxxxx") of
Toronto to combine within Intek certain of their wireless
communication businesses and related technology.
It is proposed that the transaction, if completed, will combine the
narrowband wireless and technology operations of Securicor Radiocoms
Limited ("Radiocoms") with Intek's Roamer One air time services
business and the US land mobile radio business of Midland
International Corporation, a wholly-owned subsidiary of Xxxxxxxx.
Radiocoms' business includes linear modulation radio technology, a
private mobile radio network and a manufacturing facility near Bath,
England. The business does not include any of Securicor's cellular
telephony interests. The turnover of Radiocoms for the year ending 30
September 1995 was Pound Sterling 27m.
The proposals are subject to, inter alia, due diligence, the
negotiation of definitive agreements, the receipt of regulatory and
third party approvals and consents and the approval of Intek's
shareholders.
It is intended that the merger should be concluded towards the end of
the second quarter of 1996 and that Securicor will hold a majority of
the share capital of Intek following a proposed public offering of
Intek shares in the US to raise additional working capital.
A further announcement will be made in due course.
