Orckit Announces Extraordinary General Meeting of Shareholders
December 11 2014 - 1:25PM
Business Wire
Orckit Communications Ltd. (OTCQB:ORCT) (the "Company") today
announced that an Extraordinary General Meeting of Shareholders
will be held on January 11, 2015 at 3:00 p.m. (Israel time), at the
offices of the temporary liquidator of the Company, Adv. Lior
Dagan, 1 Azrielli Center (Round Building, 35th Floor), Tel Aviv,
Israel. The record date for the meeting is December 22, 2014.
The agenda of the meeting is the approval of an arrangement
between the Company and its creditors and related transactions
pursuant to Section 350 of the Israeli Companies Law, 5759-1999.
The arrangement requires the affirmative approval of a majority by
number of the shareholders voting their shares, in person or by
proxy, and holding at least 75% of the shares voting on the matter,
unless the District Court of Tel Aviv (the "Court") will rule
otherwise. The arrangement is also subject to the approval of the
Company's creditors and the Court.
In accordance with the ruling of the Court, proxy statements
describing the proposal on the agenda and proxy cards will
not be mailed to shareholders
registered through the Company's U.S. transfer agent (including
"street name" shares held via DTC members). Instead, the Company
will file a proxy statement and a form of proxy card with the
Securities and Exchange Commission ("SEC") on Form 6-K at least
seven days prior to the meeting. These documents will be available
to the public at the SEC's EDGAR website at
http://www.sec.gov/edgar/searchedgar/companysearch.html. Each
shareholder who is unable to attend the meeting in person will be
required to print, complete, date and sign the proxy card and
deliver it to the Company as will be described in the proxy
statement. Such shareholders who hold ordinary shares in "street
name" will also be required to contact their broker and receive an
authorization to vote the shares on behalf of the broker, and
return such authorization along with their proxy card to the
Company as described in the proxy statement. Signed proxy cards
(and broker authorizations) will be accepted at the office of the
temporary liquidator until January 11, 2015, at 1:00 p.m. (Israeli
time).
The voting of shares held through members of the Tel Aviv Stock
Exchange Clearinghouse will follow customary Israeli procedures.
Specifically, the Company will shortly file a form of written
ballot with the Israel Securities Authority ("ISA") and will file
the terms of the arrangement with the ISA at least seven days prior
to the meeting. These documents will be available to the public at
the ISA's MAGNA website at http://www.magna.is.gov.il and the Maya
website of the Tel Aviv Stock Exchange ("TASE") at
http://www.maya.tase.co.il. TASE members, without charge, will send
via email a link to the filing of such documents to its clients who
hold shares of the Company and who have not duly instructed the
broker otherwise in advance. Such clients are entitled to receive a
confirmation of ownership (ishur baalut) from their brokers upon
request. Signed written ballots (and confirmations of ownership)
will be accepted at the office of the temporary liquidator until
January 11, 2015, at 1:00 p.m. (Israeli time).
For copies of relevant documents, or to send position
statements, you may address Adv. Sivan Lev or Adv. Yonatan
Ashkenazi at the office of the temporary liquidator of the Company
at Tel. +972-3-607-0819 or Fax +972-3-607-0830.
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. Orckit was founded in 1990 and
became publicly traded in 1996. Orckit's shares are traded on the
OTCQB and the Tel Aviv Stock Exchange and is headquartered in
Tel-Aviv, Israel.
Orckit Communications Ltd.Adv. Sivan Lev, +972-3-607-0819orOren
Tepper, +972-3-694-5260orent@orckit.com
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