ROSH HAAYIN, Israel,
June 6, 2016 /PRNewswire/ --
Pointer Telocation Ltd. (Nasdaq
Capital Market: PNTR; TASE: PNTR), a
leading developer, manufacturer and operator of Mobile Resource
Management (MRM) services, announced that at the close of business
in Tel Aviv today, the Tel Aviv
Stock Exchange ( the "TASE") issued an announcement that the
opening price of Pointer's ordinary shares on June 7, 2016 (the previously announced
ex-dividend date for the Company's contemplated spin-off of Shagrir
Group Vehicle Services Ltd.) in Tel
Aviv, will be manually reduced by 29.97% from today's
closing price on the TASE.
Pointer notes that the TASE's determination of the adjustment
was based on its own independent calculations and that it has no
view with respect to the methodology or correctness of such
calculation.
About Pointer Telocation
Pointer Telocation is a leading provider of technology and
services to the automotive and insurance industries, offering a set
of services including Mobile Resource Management, Fleet Management
and Stolen Vehicle Recovery. Pointer has a growing list of
customers and products installed in 50 countries. Cellocator, a
Pointer Products Division, is a leading AVL (Automatic Vehicle
Location) solutions provider for stolen vehicle retrieval, fleet
management, car & driver safety, public safety, vehicle
security and more. For more information
visit http://www.pointer.com
Safe Harbor Statement
This press release contains forward-looking statements with
respect to the business, financial condition and results of
operations of Pointer and its affiliates. These forward-looking
statements are based on the current expectations of the management
of Pointer, only, and are subject to risk and uncertainties
relating to changes in technology and market requirements, the
company's concentration on one industry in limited
territories, decline in demand for the company's
products and those of its affiliates, inability to timely develop
and introduce new technologies, products and applications, and loss
of market share and pressure on pricing resulting from competition,
which could cause the actual results or performance of the company
to differ materially from those contemplated in such
forward-looking statements. Pointer undertakes no obligation to
publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. For a more
detailed description of the risks and uncertainties affecting the
company, reference is made to the company's reports filed from time
to time with the Securities and Exchange Commission.
Contact:
Zvi Fried, V.P. and Chief
Financial
Officer
Tel.: +972-3-572
3111
E-mail:
zvif@pointer.com
Gavriel Frohwein/Ehud Helft, GK Investor Relations
Tel: +1-646-688-3559
E-mail: pointer@gkir.com
SOURCE Pointer Telocation Ltd