RADCOM Calls General Shareholder Meeting to Approve 1-to-4 Reverse Share Split
April 01 2008 - 8:45AM
PR Newswire (US)
TEL AVIV, Israel, April 1 /PRNewswire-FirstCall/ -- Further to its
announcement on March 17th in which RADCOM Ltd. ("RADCOM" or the
"Company") (NASDAQ and TASE: RDCM) announced its intention to carry
out a reverse share split of its outstanding ordinary shares, the
Company today announced that it has called an Extraordinary Meeting
of Shareholders (the "Meeting") of the Company to be held on May 6,
2008, at 16:30PM (Israel time), at the offices of the Company, 24
Raoul Wallenberg Street, Tel Aviv, Israel. "We are initiating this
transaction with the goal of enhancing the liquidity of our shares
for the benefit of our shareholders," commented Mr. Jonathan
Burgin, CFO of RADCOM. "Having completed a successful turnaround in
the fourth quarter of 2007, we are working to build the Company to
a new level, and therefore believe it is important to maintain our
accessibility to the public capital markets and our listing on
Nasdaq." The Meeting is being called to approve certain amendments
to the Company's Memorandum and Articles of Association in order to
enable the Company to effect a one-for-four reverse share split, as
well as to approve such one-for-four reverse share split. The
reverse share split will be undertaken with the goal of enabling
the Company to regain compliance with the minimum $1.00 bid price
requirement of the Nasdaq Capital Market, and therefore to continue
trading on The Nasdaq Capital Market. However, there can be no
assurance that the reverse share split will have this effect, or
that the Nasdaq Hearing Panel will accept the Company's appeal on
the Nasdaq Listing Qualifications Staff's March 11, 2008
determination to delist the Company's ordinary shares from trading
on the Nasdaq Capital Market. Shareholders of record at the close
of business on April 3, 2008, are entitled to notice of, and to
vote at, the Meeting. All shareholders are cordially invited to
attend the Meeting in person. About RADCOM RADCOM develops,
manufactures, markets and supports innovative network test and
service monitoring solutions for communications service providers
and equipment vendors. The Company specializes in Next Generation
Cellular as well as Voice, Data and Video over IP networks. Its
solutions are used in the development and installation of network
equipment and in the maintenance of operational networks. The
Company's products facilitate fault management, network service
performance monitoring and analysis, troubleshooting and
pre-mediation. RADCOM's shares are listed on both the NASDAQ
Capital Market and the Tel Aviv Stock Exchange under the symbol
RDCM. For more information, please visit http://www.radcom.com/.
Risks Regarding Forward-Looking Statements Certain statements made
herein that use the words "estimate," "project," "intend,"
"expect," "believe" and similar expressions are intended to
identify forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks and
uncertainties that could cause the actual results, performance or
achievements of the Company to be materially different from those
that may be expressed or implied by such statements, including,
among others, changes in general economic and business conditions
and specifically, decline in the demand for the Company's products,
inability to timely develop and introduce new technologies,
products and applications, and loss of market share and pressure on
prices resulting from competition. For additional information
regarding these and other risks and uncertainties associated with
the Company's business, reference is made to the Company's reports
filed from time to time with the United States Securities and
Exchange Commission. The Company does not undertake to revise or
update any forward-looking statements for any reason. Contact:
Jonathan Burgin CFO +972-3-645-5004 DATASOURCE: RADCOM Ltd CONTACT:
Contact: Jonathan Burgin, CFO, +972-3-645-5004,
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