Arel Communications Board of Directors Unanimously Approves Privatization Plan
2005年10月12日 - 5:30AM
ビジネスワイヤ(英語)
Arel Communications and Software (NASDAQ: ARLC), technology leader
in integrated voice, video and web communications for interactive
conferencing, collaboration and training applications, today
announced that its Board of Directors has unanimously approved a
plan to take the Company private that was submitted by Arel's Audit
Committee and Chairman. Arel has also obtained a fairness opinion
for the transaction. The Company will now seek the approval of
Arel's shareholders and the consent of an Israeli court. As
previously announced, the approved plan entails the repurchase of
Arel's shares by the Company from all of its shareholders, at a
price of $1.50 per share with Mr. Clayton Mathile and certain
directors and officers of the Company remaining as shareholders of
Arel. Cetus Corp., an Ohio based investment company controlled by
Mr. Mathile, has agreed in principle, subject to reaching
definitive terms, to provide the Company with the funding to carry
out the proposed plan and for its future operating needs. If the
proposed transaction is effected as proposed, Arel expects to have
fewer than 300 shareholders of record. In such case, Arel would
terminate the registration of its ordinary shares under the
Securities Exchange Act of 1934, as amended, delist its ordinary
shares from the Nasdaq SmallCap Market and cease filing reports and
other information with the Securities and Exchange Commission
(SEC). No assurance can be given that the proposed transaction, or
a similar transaction, will be effected on these or any other
terms. This announcement is neither a solicitation of a proxy nor
an offer to purchase, or a solicitation of an offer to sell,
ordinary shares of Arel. Arel intends to file a Schedule 13E-3 with
the SEC in connection with the special meeting of shareholders
which would be held to vote on the proposed plan. All shareholders
are urged to read the definitive Schedule 13E-3 when it becomes
available and any definitive materials accompanying such Schedule
13E-3 because they will contain important information about the
proposed transaction. Shareholders may obtain such documents free
of charge when they are available at the Web site maintained by the
SEC at www.sec.gov. Arel will also mail a copy of certain
definitive materials to its shareholders entitled to vote at the
special meeting. About Arel Communications and Software: Arel
Communications and Software is a leader in conferencing and
collaboration solutions. Arel is focused on enhancing
communications, facilitating workgroup collaboration and driving
productivity in the enterprise. By providing a comprehensive
application suite, Arel Spotlight(TM), for leveraging enterprise
networks for rich-media communications, Arel replicates in-person
meetings in the online environment. Combining voice, video and data
conferencing in one easy-to-use Web-based solution, Arel fosters
interactive communications that significantly improve work
environments today. Arel's solution impacts key business processes
such as corporate and marketing communications, distance learning,
product development, customer relationship management, and supply
chain management. Allowing geographically dispersed users to work
together in groups, attend webinars and panel discussions,
participate in training courses, and have one-on-one meetings with
customers or colleagues, from virtually anywhere, Arel Spotlight is
a powerful tool for critical business communications. For more
information, visit www.arelcom.com. This press release contains
forward-looking statements that are subject to risks and
uncertainties. Factors that could cause results to differ
materially from these forward-looking statements include, but are
not limited to, the receipt of corporate and third party approvals,
obtaining the financing to carry out the proposed plan, general
business conditions in the industry, changes in demand for
products, the timing and amount or cancellation of orders and other
risks detailed from time to time in Arel Communications and
Software's filings with the Securities and Exchange Commission.
Arel is under no obligation (and expressly disclaims any such
obligation) to update or alter any forward-looking statements
whether as a result of new information, future events or otherwise.
All trademarks recognized.
Arel (NASDAQ:ARLC)
過去 株価チャート
から 5 2024 まで 6 2024
Arel (NASDAQ:ARLC)
過去 株価チャート
から 6 2023 まで 6 2024
Real-Time news about Arel Communications & Software Ltd. (MM) (ナスダック市場): 0 recent articles
その他のArel Communications and Softwareニュース記事