Orckit Announces Adjournment of 2011 Annual General Meeting
October 06 2011 - 11:50AM
Orckit Communications Ltd. (Nasdaq:ORCT) today announced that the
requisite quorum of two or more shareholders holding at least 25%
of the outstanding ordinary shares was not present at its Annual
General Meeting of Shareholders scheduled to be held on Thursday,
October 6, 2011 at 3:00 p.m. Israel time. Accordingly, pursuant to
applicable law, an adjourned meeting will be held on Tuesday,
October 11, 2011 at 3:00 p.m. Israel time, at the offices of the
Company, 126 Yigal Allon Street, Tel Aviv, Israel. The quorum for
the adjourned meeting will be any two shareholders present in
person or by proxy. The record date of September 6, 2011 will
remain unchanged for the adjourned meeting.
The agenda of the meeting is as follows:
- Re-election of Eric Paneth, Izhak Tamir, Jed M. Arkin and Moti
Motil as directors;
- Re-election of Moshe Nir and Amiram Levinberg as outside
directors and election of Naomi Steinfeld as an outside director;
- Approval of compensation to the Company's non-employee
directors;
- Approval of amendments to the Company's Articles of
Association;
- Approval of a form of amended indemnification letter in favor
of directors;
- Reappointment of Kesselman & Kesselman, a member of
PricewaterhouseCoopers International Limited, as our independent
auditors; and
- Consideration of our audited financial statements for the year
ended December 31, 2010.
Item 1 and Item 4 require the approval of the holders of 66-2/3%
of the shares present, in person or by proxy, and voting on the
matter. Items 2, 3, 5 and 6 require the approval of the
holders of a majority of the shares present, in person or by proxy,
and voting on the matter. Item 7 will not involve a vote of
the shareholders.
About Orckit Communications Ltd.
Orckit facilitates the delivery by telecommunication providers
of high capacity broadband residential, business and mobile
services over wireline or wireless networks with its
Orckit-Corrigent family of products. With 20 years of field
experience with Tier-1 customers located around the
world, Orckit has a firm foothold in the ever-developing world
of telecommunications. Orckit-Corrigent's product portfolio
includes Packet Transport Network (PTN) switches, an MPLS and
MPLS-TP dual stack based portfolio enabling advanced packet, as
well as legacy services over packet networks with a wide set of
transport features. Orckit-Corrigent markets its products directly
and indirectly through strategic alliances, as well as through
distribution and reseller partners worldwide. Orckit was founded in
1990 and became publicly traded in 1996. Orckit is dually listed on
NasdaqGM (ORCT) and the Tel Aviv Stock Exchange and is
headquartered in Tel-Aviv, Israel. For more information,
please visit http://www.orckit.com. Follow Orckit on Twitter
@ORCT
CONTACT: Adam Pollack
KCSA Strategic Communications
(212) 896-1232
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