TEL AVIV, Israel, November 27, 2012 /PRNewswire/ --
RADCOM Ltd. ("RADCOM" or
the "Company") announced today
that the Audit Committee and Board of Directors of the Company
unanimously approved the entering into a loan agreement between the
Company and Mr. Zohar Zisapel (and/or a company controlled by him),
the Company's Chairman and its largest shareholder with holdings of
approximately 34% of the Company's voting power.
The key terms of the loan agreement are as follows:
- Mr. Zisapel will extend a loan of up to 3,000,000 New Israeli
Shekels to the Company;
- The loan will be interest-free and will only be linked to the
Israeli Consumer Price Index; and
- The Company is obligated to repay the loan by March 31, 2013, unless otherwise agreed upon by
Mr. Zisapel and the Company.
The Audit Committee and the Board of Directors of the Company
have unanimously resolved that the entry by the Company into the
loan agreement substantially upon the terms described above is
solely for the benefit of the Company.
As required by the Israeli Companies Law, the abovementioned
transaction was approved by the Audit Committee and the Board of
Directors of the Company. In accordance with regulations
promulgated under the Israeli Companies Law, holders of 1% or more
of the outstanding Ordinary Shares of the Company may demand that
the Company convene a general meeting of shareholders to approve
the abovementioned loan agreement, by sending a written request to
the Company's principal offices (RADCOM Ltd., 24 Raoul Wallenberg
Street, Tel Aviv 69719,
Israel, Attn.: Chief Financial
Officer) no later than December 11,
2012. If no request is received by such date, the
abovementioned transaction will not require the approval of the
Company's shareholders.
About RADCOM
RADCOM provides innovative service assurance solutions for
communications service providers and equipment vendors. RADCOM
specializes in solutions for next-generation networks, both
wireless and wireline. RADCOM's comprehensive, carrier strength
solutions are used to prevent service provider revenue leakage and
enable management of customer care. RADCOM's products facilitate
fault management, network service performance analysis,
troubleshooting and pre-mediation with an OSS/BSS. RADCOM's shares
are listed on the NASDAQ Capital Market under the symbol RDCM. For
more information, please visit http://www.RADCOM.com.
Contact:
Gilad Yehudai
CFO
+972-77-774-5060
RADCOM Ltd.
gilady@radcom.com
SOURCE RADCOM Ltd