Wizcom Successfully Issues Convertible Bond
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Wizcom Technologies Ltd. /
Wizcom Successfully Issues Convertible Bond
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The issuer is solely responsible for the content of this announcement.
Company raises ?1.1 million
Rosh Ha'ayin, May 24, 2011. Wizcom Technologies Ltd. (Prime Standard: WZM,
IL 0010830706), a leading global provider of handheld scanning and translation
tools, today announces the Company has raised ?1.1 million through the
successful issue of a convertible bond. The purchasers include current Wizcom
shareholders, management and purchasers who are not related to the Company.
The convertible bond carries a coupon of 5% per annum. The conversion price will
be ?0.29 per ordinary share. Those investors who participated in the interim
loan extended to the company previously are eligible to 15% on the conversion
price. Maximum number of new shares to be issued will be 4,638,859. The
convertible notes may not be converted until a period of six months from their
issuance. Further details on the terms and conditions can be found on Wizcom's
website under the Agenda for the AGM held on 20 April 2011.
Shimon Amouyal, CEO for Wizcom, stated, "We are very pleased with this
successful placement. The main use for the proceeds of the issue will be to
extend credit lines to customers in order to drive demand. We have decided to
offer our customers this opportunity following feedback from the market."
"It is pleasing to see that yet again a substantial portion of the issue was
taken up by people close to the Company, with our Chairman of the Board the
largest single investor in the bond. It is clear that we have managed a
turnaround of Wizcom, reestablishing belief and credibility after a period in
which sales were seriously deteriorating. The execution of our strategy, as
well as the strengthening of our Management team have had a tremendous positive
effect, both on commercial operations and our standing in the market, resulting
in our ability successfully to close a number of important financing rounds."
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.
For further information, please contact:
Wizcom Technologies Ltd.
Shimon Amouyal, CEO
13 Hamelacha St.
Rosh Ha'ayin, 48091, Israel
Tel +972-3-9103330
shimona(at)wizcomtech.com
www.wizcomtech.com
SCHWARZ Financial Communication
Frank Schwarz
Investor Relations
Germany
Tel +49-611-1745-398-11
Schwarz(at)schwarzfinancial.com
www.schwarzfinancial.com
--- 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;
Press Release as PDF:
http://hugin.info/130210/R/1518320/454807.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wizcom Technologies Ltd. via Thomson Reuters ONE
[HUG#1518320]
Unternehmensinformation / Kurzprofil:
Datum: 24.05.2011 - 15:35 Uhr
Sprache: Deutsch
News-ID 54942
Anzahl Zeichen: 4557
contact information:
Town:
Rosh Ha'ayin
Kategorie:
Business News
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