Alvarion Ltd. (in Receivership and Liquidation) Files Form 15 to Terminate Its U.S. Reporting Obligations Under Securities Ex...
April 29 2015 - 9:00AM
Alvarion® Ltd. (in receivership and liquidation) ("Alvarion" or the
"Company") (OTC Pink:ALVRQ), announced today that it has filed a
Form 15 with the United States Securities and Exchange Commission
(the "SEC") with the intention of terminating its reporting
obligations under Section 13(a) and Section 15(d) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act").
The filing was approved by the District Court of Tel Aviv–Yaffo
in view of the Company's liquidation status. Alvarion expects that
the termination of its duty to file reports will become effective
90 days after the filing of Form 15 with the SEC. However, as a
result of this filing, Alvarion's reporting obligations with the
SEC, including its obligations to file annual reports on Form 20-F
and reports on Form 6-K, will immediately be suspended.
The Company's ordinary shares are currently traded on the OTC
Markets – OTC Pink Tier (the "Pink Tier") under the symbol "ALVRQ".
For quotes or additional information on OTC Markets and the OTC
Pink Tier, please visit www.otcmarkets.com.
Trading in the Company's ordinary shares on the Tel Aviv Stock
Exchange ("TASE") continues to be suspended. As previously reported
by the Company on February 13, 2014, if conditions to renew trading
on the TASE will not be met within 24 months from the commencement
of the suspension of trading on the TASE (namely, by January 15,
2016), the Company's ordinary shares will be delisted from the
TASE, without further deliberation by the TASE board of directors.
Prior to being delisted from TASE, the TASE will allow for four (4)
days of trading, unless the general manager of the TASE, or his/her
representative, decides otherwise.
This news release includes forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements relate to
Alvarion's expectations, beliefs, intentions or strategies
regarding future events, including Alvarion's intention to
terminate its reporting obligations under Section 13(a) and Section
15(d) of the Exchange Act. These statements can be identified by
the use of words like "anticipate, " "believe," " intend,"
"estimate," "expect," "may," "plan," "project," "will," "should,"
"seek" and similar words or expressions containing same.
The Company cautions that trading in its ordinary shares is
highly speculative and poses substantial risks. The Company
emphasizes that its currently outstanding ordinary shares may have
limited value, and urges extreme caution with respect to any
existing or future investments in its ordinary shares. The Company
makes no commitment to revise or update any forward-looking
statements to reflect any facts, events or circumstances after the
date any such statement is made, that may bear upon such
forward-looking statements.
CONTACT: Investor & Media Contacts:
Elana Holzman
ir@alvarion-ltd.com
AlloVir (NASDAQ:ALVR)
Historical Stock Chart
From Mar 2024 to Apr 2024
AlloVir (NASDAQ:ALVR)
Historical Stock Chart
From Apr 2023 to Apr 2024