TEL AVIV, Israel, June 30, 2016 /PRNewswire/ --
Metalink Ltd. (OTCQB: MTLK) today announced that, further to its
previously announced plan to voluntary liquidate the Company, it
has received notice from one of its principal shareholders
(holding, to the Company's knowledge, approximately 24.9% of the
outstanding shares) whereby such shareholder stated, among other
things, its objection to the liquidation plan. Since the
liquidation requires approval by shareholders holding at least 75%
of all shares voted on the matter, the Board of Directors is
reviewing and considering the objection, including its effects on
the implementation of the plan, in consultation with its legal
advisors.
ABOUT METALINK
Metalink shares are quoted on OTCQB under the symbol "MTLK". For
more information, please see our public filings at the SEC's
website at http://www.sec.gov
SAFE HARBOR STATEMENT
This press release contains "forward looking statements" within
the meaning of the United States
securities laws. Words such as "aim," "expect," "estimate,"
"project," "forecast," "anticipate," "intend," "plan," "may,"
"will," "could," "should," "believe," "predicts," "potential,"
"continue," and similar expressions are intended to identify such
forward-looking statements. Because such statements deal with
future events, they are subject to various risks and uncertainties
that could cause actual results to differ materially from those in
the forward looking statements. Factors that could cause or
contribute to such differences include, but are not limited to, the
liquidation plan of the Company, the amount of cash that will be
returned to shareholders, the timing of a liquidation process, the
timing of liquidation distribution(s), and other matters set forth
from time to time in Metalink's filings with the Securities and
Exchange Commission, including Metalink's Annual Report in Form
20-F. Readers are cautioned not to place undue reliance on
forward-looking statements. Except as required by applicable law,
the Company undertakes no obligation to republish or revise
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrences of unanticipated
events. The Company cannot guarantee future results, events, and
levels of activity, performance, or achievements.
Contact:
Shay Evron, Acting CEO &
CFO
Metalink Ltd.
Tel: +972-3-7111690
Fax: +972-3-7111691
Shay.Evron@il.gt.com
SOURCE Metalink Ltd