Carnegie Technologies Issues Statement Regarding magicJack’s Annual Meeting
March 30 2017 - 8:00AM
Business Wire
Carnegie Technologies Holdings, LLC and Founder Paul Posner
(“Carnegie”), the holder of approximately 1.6% of the shares in
magicJack VocalTec Ltd. (“magicJack” or the “Company”)
(NASDAQ:CALL), today issued the following statement regarding the
2016 Annual Meeting of Shareholders of magicJack.
Paul Posner, Founder and CEO of Carnegie Technologies, said, “As
a result of Carnegie’s director nominations on January 5, 2017 and
the strong response we received from fellow shareholders,
magicJack’s Board has finally begun making positive steps towards
unlocking shareholder value. We are encouraged by the Board’s
recently announced strategic alternatives process and the
engagement we have had with the Company over the last few weeks.
Carnegie will continue to be an active participant in the strategic
alternatives process and welcomes other parties involved, or
considering involvement, to contact us to discuss joint transaction
structures that are mutually beneficial.”
Added Posner, “At this important juncture for shareholder value
creation, we have decided to withdraw our nomination of directors
and we expect the Board to follow through, in a demonstrable and
public way, on its commitment to the strategic alternatives
process. We want to thank our fellow shareholders for their support
in helping prompt this value creation process.”
About Carnegie Technologies and Paul Posner
Carnegie Technologies creates communications products that take
advantage of the fundamental shifts occurring in the communications
technology ecosystem. Founded in 2010 by Paul Posner, Carnegie
Technologies has over 100 employees, engineering teams on four
continents, and deep expertise in application development, mobile
devices, and cellular core network operations. Paul Posner, prior
to Carnegie, has a long history developing telecommunications
companies including Pocket Communications, Discount Cellular &
Paging, PageTexas, and several others, including a successful exit
valued at more than $200 million from a wholly-owned cellular
operation that he built from the ground up.
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InvestorsMacKenzie Partners, Inc.Paul Schulman,
212-929-5364orBob Marese, 212-929-5045orMediaGagnier
CommunicationsDan Gagnier, 646-569-5897orPatrick Reynolds,
646-569-5879
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