RADCOM's Shareholders Approve One-for-Four Reverse Share Split
May 06 2008 - 10:00AM
PR Newswire (US)
TEL AVIV, Israel, May 6 /PRNewswire-FirstCall/ -- At a General
Shareholders' Meeting held today, the shareholders of RADCOM Ltd.
("RADCOM" or the "Company") (NASDAQ:RDCM) (TASE:RDCM) approved a
one-for-four reverse split of the Company's outstanding ordinary
shares. The reverse share split, subject to a final favorable
ruling of the NASDAQ Hearing Panel, will enable the Company to
regain compliance with the minimum bid price requirement of $1.00
and to continue to be listed on the NASDAQ Capital Market. The
Company believes that the continued listing on the NASDAQ Capital
Market will enable the Company to have greater access to the public
capital markets and will afford the Company's shareholders greater
liquidity with respect to their shareholdings in the Company. If
the reverse split is effected, the number of the Company's
authorized Ordinary Shares will decrease from 39,990,680 to
9,997,670 Ordinary Shares and the number of Ordinary Shares
outstanding will decrease from 20,295,138 to approximately
5,073,784, the precise number of outstanding shares to depend on
the results of rounding of fractional shares. The Company will
inform its shareholders regarding the effective date of the reverse
split when available. 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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