TEL-AVIV, Israel, February 6, 2017 /PRNewswire/ --
Metalink Ltd. (OTCQB: MTLK), today announced that it has
successfully completed its self tender offer to purchase up to
1,945,000 of its ordinary shares for $1.50 per share net to the seller in cash, less
any required withholding taxes and without interest. The tender
offer, which commenced on December 29,
2016, expired on Friday, February 3,
2017 at 5:00 p.m.,
New York time.
Metalink has been advised by the depositary for the tender offer
that, as of the final expiration of the tender offer, a total of
1,435,217 shares had been validly tendered and not properly
withdrawn pursuant to the offer. As contemplated in the offer to
purchase, Metalink has accepted for purchase all of the 1,435,217
shares tendered, and shall purchase from each tendering shareholder
the full amount of his or her tender. Metalink shall pay for the
tendered shares approximately $2.15
million in the aggregate.
The shares to be purchased represent approximately 53.3% of the
2,690,857 shares issued and outstanding as of immediately prior to
the consummation of the tender offer. Metalink will have 1,255,640
shares issued and outstanding as of the time immediately following
the payment for the tendered shares (excluding 1,525,067 treasury
shares).
Payment for the shares accepted will be made promptly through
American Stock Transfer & Trust Company, LLC, the depositary
for the tender offer.
To Metalink's knowledge, after giving effect to the payment for
the shares tendered in the offer and accepted for payment, (1) Top
Alpha Capital S.M. Ltd., an Israeli company wholly owned by Mr.
Daniel Magen, will own, in the
aggregate, 670,000 ordinary shares of Metalink, representing
approximately 53.4% of the issued and outstanding shares of
Metalink, and (2) each of Uzi
Rozenberg, the Chairman of the Board of Directors of
Metalink, and Tzvi Shukhman, a
member of the Board of Directors, who were also principal
shareholders of Metalink prior to completion of the offer, will no
longer hold any shares of Metalink.
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,
uncertainty as to the Company's plan of operations, changes in
general economic and business conditions, changes in currency
exchange rates and interest rates and other risks and matters set
forth from time to time in Metalink's filings with the Securities
and Exchange Commission, including Metalink's last Annual Report on
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.