REDLANDS, Calif.–(BUSINESS WIRE)–Kensington Leasing, Ltd. (OTCBB:KNSL) today appear that on March 23, 2011, it entered into an accretion acceding to access Wikifamilies SA and a banal acquirement acceding to access costs through accepted banal sales to Angelique de Maison, the arch shareholder, Chairman of the Board and Chief Executive Officer of the company.
Wikifamilies SA is a development date Swiss aggregation formed to design, advance and accomplish an Internet-based amusing media website, Wikifamilies.com, with a altered accent on families and new technologies. This web-based belvedere is brash to enhance the adeptness of families to acquaint and allotment ancestors history and contest while accouterment a defended area to transact family-related business matters. Wikifamilies intends to barrage the website in the added agenda division of 2011.
Under the acceding of the accretion agreement, Kensington Leasing will access all of the outstanding balance of Wikifamilies in barter for 31,500,000 shares of accepted banal of Kensington Leasing. This will represent about 68.43% of Kensington Leasing’s outstanding accepted banal at the closing. The closing of the accretion is accountable to accepted conditions, including the satisfactory achievement of due action by the parties and the achievement of an analysis of Wikifamilies’ banking statements. The closing is accepted to action in April.
Business Insights has declared “Globally, the amusing networking bazaar is already abutting maturity. There were an estimated 917 actor amusing networking users all-embracing at the end of 2009 – 13.3% of the all-around population. The calibration and adeptness of amusing networking is anticipation to added than bifold to 1,971.2 actor users – 27% of the citizenry – by the end of 2015. By this stage, the amusing networking bazaar will accept accomplished adeptness in best civic and bounded markets, actuality in use by a ample majority of internet users, and accomplishing adeptness to about 80% of absolute all-around chump expenditure.”
According to eMarketer, accepted ad spending on amusing networks will adeptness about $6 billion this year, amounting to $3.1 billion in the US and $2.9 billion in all-embracing markets.
“Studies accept apparent amusing networking now accounts for about 23% of all time spent on the Internet,” Angelique de Maison, CEO of Kensington Leasing, said announcement the deal. “The cardinal of amusing media users age-old 50 and earlier about angled from 2009 to 2010. We accept that ancestors and bequest are primary motivators active the charge for the Wikifamilies technology, and that they accept accumulated the appropriate aggregation and technology to booty advantage of this cogent bazaar opportunity,” she added.
Wikifamilies is managed by three acclaimed internet professionals, Malcolm Hutchinson, Robert Coleridge and Chris Dengler. They accept all-encompassing acquaintance architecture ample IT projects and aberrant reputations as arch internet entrepreneurs and technologists.
Malcolm Hutchinson is a consecutive administrator who has brash abundant companies on their internet business models and founded and co-founded a cardinal of IT companies, including Living PlanIT SA, WISeKey SA, InfoMat Systems Pty Ltd and ITNetworks Inc.
Robert Coleridge is a continued time systems analyst and software architect with over 36 years acquaintance in assorted technology industries, including 12 years at Microsoft Corporation as a chief software architecture engineer. During his years at Microsoft, he designed, created and implemented cardinal and abstracted alive prototypes for a cardinal of the executives. He additionally had the befalling to comedy key roles in the development and eyes that was to become .NET and WCF. He helped architecture and apparatus Microsoft’s aboriginal SOAP toolkit which today is bigger accepted as Web Services.
Chris Dengler was aforetime a chief software architecture architect with Microsoft and one of the two aboriginal architects and developers of what became accepted as Web Services and .NET. He catholic broadly with Bill Gates, Microsoft’s Chairman and added chief Microsoft admiral to acquaint the abstraction of Web Services at aerial contour abstruse conferences and adventure forums.
Under the banal acquirement agreement, Ms. de Maison has agreed to acquirement shares of accepted banal of Kensington Leasing principally to accommodate costs for Wikifamilies. She purchased 300,000 shares for $75,000 aloft beheading of the banal acquirement agreement, which has been loaned to Wikifamilies. She has agreed to acquirement an added 600,000 shares for $150,000 aloft closing of the Wikifamilies acquisition, and to accomplish account purchases of up $100,000 per ages for the 18 months afterward the closing.
FORWARD LOOKING STATEMENT: This columnist absolution contains advanced statements, including statements about the cleanup and timing of the accretion of Wikifamilies by Kensington Leasing, the business plan and -to-be banking action of Kensington Leasing. The advanced statements are accountable to risks and uncertainties, including that the parties may not complete the transaction or that back completed, the transaction adeptness be altered than anon contemplated. Readers should not abode disproportionate assurance on the advanced statements. Neither Kensington Leasing nor Wikifamilies undertakes any obligation to about alter these advanced statements to reflect consecutive contest or circumstances. In addition, any advanced attractive statements apropos advanced accepted industry patterns and added banking and business after-effects that absorb accepted and alien risks, uncertainties and added factors that may account our absolute results, levels of activity, achievement or achievements to alter materially from after-effects bidding or adumbrated by this columnist release. Such accident factors include, amid others: whether Kensington Leasing can auspiciously assassinate its operating plan; its adeptness to accommodate acquired companies and technology; its adeptness to absorb key employees; its adeptness to auspiciously amalgamate artefact offerings and chump accepting of accumulated products; accepted bazaar conditions; and whether Kensington Leasing can auspiciously advance new articles and the amount to which these accretion bazaar acceptance. Absolute after-effects may alter materially from those independent in the advanced statements in this columnist release.
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