Orckit Shareholders Approve Arrangement With Note Holders
April 19 2012 - 11:23AM
Orckit Communications Ltd. (Nasdaq:ORCT) (the "Company") today
announced that at its adjourned extraordinary general meeting of
shareholders held on April 19, 2012, its shareholders approved the
arrangement among the Company and its Series A note holders and
Series B note holders, and a related increase in authorized share
capital, by the requisite majority, which is 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
ordinary shares voting on the matter. The requisite majority was
achieved whether or not the votes of shareholders who also hold
notes are included in the computation.
For more information about the arrangement approval process,
please see the proxy statement of the Company that was submitted to
the Securities and Exchange Commission with a Report on Form 6-K on
March 7, 2012.
About Orckit Communications Ltd.
Orckit facilitates telecommunication providers' delivery 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 and sound leadership, Orckit has a firm
foothold in the ever-developing world of telecommunication.
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 distribution and reseller
partners worldwide. Orckit was founded in 1990 and went public in
1996. The company is active in APAC, Western and Eastern Europe,
and America.
For more information, please visit http://www.orckit.com. Follow
Orckit on Twitter @ORCT
CONTACT: Rob Fink
212-896-1239
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