Teliran Submits Originating Summons and Petition for Ex-Parte Injunction against Wizcom
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Wizcom Technologies Ltd. /
Teliran Submits Originating Summons and Petition for Ex-Parte Injunction against
Wizcom
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Rosh Ha'ayin, November 18, 2010 Wizcom Technologies Ltd. ("Wizcom") (Prime
Standard: WZM, IL 0010830706) announces that on November 16, 2010 it was
notified that on November 14, 2010 its former sole supplier Teliran 1993 Ltd
("Teliran") furnished the district court of Tel Aviv-Jaffa with an originating
summons, as well as a petition for a preliminary ex-parte injunction within
which four provisional remedies were requested by Teliran. On November 15, 2010
the district court granted Teliran a temporary ex-parte injunction, approving
two of the provisional remedies requested. The court instructed the Company that
it may respond to the ruling within 7 days, which the Company plans to act upon.
The first remedy instructs that, by virtue of the investment agreement within
which the Company granted Teliran with convertible notes of the Company, the
voting at the general meeting of the shareholders of the Company take place in
accordance with the holdings of the Company shares prior to the conversion of
the series-A notes, that were granted on November 25, 2009, to Company shares.
The second remedy instructs that the date of the conversion of the Company's
notes to Company shares set for November 24, 2010 in the said convertible notes
agreement, be extended until further decision by the court.
The management and the legal advisors of the Company believe that the Company
will be able to successfully defend its position, that the Originating Summons
and Petition should be rejected, before the court.
About Wizcom Group:
Wizcom Technologies Ltd. is the world's leading producer of personal, portable
scanning pens that help people read and process text. These pocket-sized, user-
friendly devices enable people to understand and use printed material, anytime
and anywhere, without disrupting their reading process. Our pens help students
of English as a first or second language, as well as people working in
multilingual environments, enhancing their fluency and expediting reading
comprehension.
Wizcom Technologies Inc, Boston, US-based entity, responsible for Wizcom Group
operations in the Americas.
Ligature Ltd. is a world leader developer of Optical Character Recognition (OCR)
technologies and applications. The company offers innovative approach to OCR
based solutions for specialized markets partnering with OEMs, VARs and system
integrators incorporating CharacterEyes into software applications and hardware
products.
Galil Microwaves Israel (2003) Ltd. is a third party manufacturer and assembler
of electronic modules for microelectronic and microwave components.
For further information, please contact:
WizCom Technologies Ltd.
Shimon Amouyal, CEO
13 Hamelacha St.
Rosh Ha'ayin, 48091, Israel
Phone +972-3-9103330
shimona(at)wizcomtech.com
http://www.wizcomtech.com
SCHWARZ Financial Communication
Frank Schwarz
Investor Relations
Germany
Phone +49-611-1745-398-11
Schwarz(at)schwarzfinancial.com
[HUG#1463876]
--- End of Message ---
Wizcom Technologies Ltd.
13 Hamelacha St. Rosh Ha'ayin Israel
WKN: 915856;ISIN: IL0010830706;Index:Prime All Share,TECH All Share;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;
Wizcom PR:
http://hugin.info/130210/R/1463876/402513.pdf
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Source: Wizcom Technologies Ltd. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 18.11.2010 - 15:43 Uhr
Sprache: Deutsch
News-ID 48911
Anzahl Zeichen: 4998
contact information:
Town:
Rosh Ha'ayin
Kategorie:
Business News
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