Attunity Files Application for Relisting on the NASDAQ Capital Market and Announces Special Meeting of Shareholders
Poster: SySAdmin
Posted on May 16, 2012 at 5:21:01 AM
Attunity Files Application for Relisting on the NASDAQ Capital Market and Announces Special Meeting of Shareholders
BURLINGTON, Massachusetts, May 16, 2012/PRNewswire-FirstCall/ --
Attunity, Ltd. (OTC Bulletin Board: ATTUF), a leading provider of information
availability software solutions, announced today that it has filed an application to
relist its ordinary shares on the NASDAQ Capital Market and that it will hold a special
meeting of shareholders on Thursday, June 21, 2012 at 10:00 a.m. (Israel Time) in
connection therewith, as described below.
Proposed NASDAQ Relisting
The Company reported that it has filed an application for listing its ordinary shares
on the NASDAQ Capital Market. The Company's listing on the NASDAQ Capital Market will be
subject to review by NASDAQ and dependent upon the Company meeting all relevant
quantitative and qualitative listing criteria of NASDAQ, including satisfying NASDAQ's
minimum bid price requirement of $2.00 or $3.00 per share (depending on the applicable
listing standard). The Company believes it currently meets all of NASDAQ's eligibility
requirements with the exception of the minimum bid price requirement.
"Relisting our ordinary shares on the NASDAQ will allow a broader range of investors
the ability to buy our ordinary shares and create greater liquidity for the shares. This
uplisting is also expected to provide greater visibility within the investment community
and reflects the significant financial progress we have achieved as part of our effort to
build shareholder value," commented Shimon Alon, Chairman and CEO of Attunity. "Over the
past two years, we have made significant progress in growing our business globally as a
leading provider of information availability software solutions. This has included the
development of new innovative solutions and the acquisition of RepliWeb in 2011, creating
one of the most complete solutions for the management of structured and unstructured data.
We are excited by our growth, which has resulted in increased profitability, our expansion
into the Big Data and Cloud Computing space, as it comes into contact with enterprises,
and now, executing our plan to relist on NASDAQ."
The Special Meeting of Shareholders
The Company announced that that it will hold a special meeting of shareholders on
Thursday, June 21, 2012 at 10:00 a.m. (Israel Time) at Attunity's offices in Kfar-Netter
Industrial Park, Kfar-Netter, Israel. The record date for the meeting is May 16, 2012.
The agenda of this special meeting is to authorize Attunity's Board of Directors to
effect a maximum 1-for-5 reverse split of Attunity's ordinary shares in connection with
the possible relisting of its shares on NASDAQ and to approve related amendments to
Attunity's Memorandum and Articles of Association. The Company clarified that it does not
intend to effect a reverse split, unless and until its Board of Directors determines at a
future date it is necessary and advisable in order to relist on NASDAQ.
This item requires the approval of no less than 75% of the shares voted on the matter.
In the absence of a requisite quorum of shareholders at the meeting, the meeting shall
be adjourned to the same day in the next week, at the same time and place, or any other
date and place as the board of directors shall designate and state in a notice to the
shareholders entitled to vote at the original meeting.
Additional Information and Where You Can Find It
In connection with the meeting, Attunity will send to its shareholders of record a
proxy statement describing the matters to be voted upon at the meeting, along with a proxy
card enabling them to indicate their vote on the matter. Attunity will also furnish copies
of the proxy statement and proxy card to the Securities and Exchange Commission (SEC) on
Form 6-K, which may be obtained for free from the SEC's website at http://www.sec.gov,
Attunity's website at http://www.attunity.com or by directing such request to the
Company's Investor Relations below.
About Attunity
Attunity is a leading provider of information availability software solutions that
enable access, sharing and distribution of data across heterogeneous enterprise platforms,
organizations, and the cloud. Our software solutions include data replication
[http://www.attunity.com/attunity_replicate ], change data capture
[http://www.attunity.com/attunity_stream ] (CDC), data connectivity
[http://www.attunity.com/attunity_connect ], enterprise file replication
[http://www.repliweb.com/products/r1-r/index.php ] (EFR) and managed-file-transfer
[http://www.repliweb.com/products/rmft/index.php ] (MFT). Using Attunity's software
solutions, our customers enjoy significant business benefits by enabling real-time access
and availability of data and files where and when needed, across the maze of heterogeneous
systems making up today's IT environment.
Attunity has supplied innovative software solutions to its enterprise-class customers
for nearly 20 years and has successful deployments at thousands of organizations
worldwide. Attunity provides software directly and indirectly through a number of partners
such as Microsoft, Oracle, IBM and HP. Headquartered in Boston, Attunity serves its
customers via offices in North America, Europe, and Asia Pacific and through a network of
local partners. For more information, visit http://www.attunity.com or our In Tune
blog [http://blog.attunity.com ] and join our community on Twitter
[http://www.twitter.com/attunity ], Facebook [http://www.facebook.com/attunity ], LinkedIn
[http://www.linkedin.com/groups?about=&gid(84948&trk=anet_ug_grppro ] and YouTube
[http://www.youtube.com/attunity ].
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other
Federal Securities laws. Statements preceded by, followed by, or that otherwise include
the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and
similar expressions or future or conditional verbs such as "will", "should", "would",
"may" and "could" are generally forward-looking in nature and not historical facts. For
example, when we discuss our outlook for 2012 or relisting on NASDAQ and its possible
effects, we are using a forward-looking statement. Because such statements deal with
future events, they are subject to various risks and uncertainties and actual results
could differ materially from Attunity's current expectations. Factors that could cause or
contribute to such differences include, but are not limited to: our reliance on strategic
relationships with our distributors, OEM and VAR partners, including Microsoft; risks and
uncertainties relating to the acquisition of RepliWeb, including costs and difficulties
related to integration of acquired businesses, the combined companies' financial results
and performance, and known or unknown contingent liabilities, including litigation, costs,
tax and expenses; our liquidity challenges and the need to raise additional capital in the
future; timely availability and customer acceptance of Attunity's new and existing
products, including Attunity Replicate; changes in the competitive landscape, including
new competitors or the impact of competitive pricing and products; a shift in demand for
products such as Attunity's products; the impact on revenues of economic and political
uncertainties and weaknesses in various regions of the world, including the commencement
or escalation of hostilities or acts of terrorism; and other factors and risks on which
Attunity may have little or no control. This list is intended to identify only certain of
the principal factors that could cause actual results to differ. For a more detailed
description of the risks and uncertainties affecting Attunity, reference is made to
Attunity's Annual Report on Form 20-F/A for the year ended December 31, 2011, which is on
file with the Securities and Exchange Commission (SEC) and the other risk factors
discussed from time to time by Attunity in reports filed or furnished to the SEC. Except
as otherwise required by law, Attunity undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events.
(c) 2012 Attunity Ltd. All rights reserved. Attunity is a trademark of Attunity Inc.
For more information, please contact:
Todd Fromer / Garth Russell
KCSA Strategic Communications
P: +1-212-682-6300
tfromer@kcsa.com / grussell@kcsa.com
Dror Harel-Elkayam, CFO
Attunity, Ltd.
Tel: +972-9-899-3000
dror.elkayam@attunity.com [dror.elkayam@attunity.com ]
Source: Attunity Ltd
BURLINGTON, Massachusetts, May 16, 2012/PRNewswire-FirstCall/ --
Attunity, Ltd. (OTC Bulletin Board: ATTUF), a leading provider of information
availability software solutions, announced today that it has filed an application to
relist its ordinary shares on the NASDAQ Capital Market and that it will hold a special
meeting of shareholders on Thursday, June 21, 2012 at 10:00 a.m. (Israel Time) in
connection therewith, as described below.
Proposed NASDAQ Relisting
The Company reported that it has filed an application for listing its ordinary shares
on the NASDAQ Capital Market. The Company's listing on the NASDAQ Capital Market will be
subject to review by NASDAQ and dependent upon the Company meeting all relevant
quantitative and qualitative listing criteria of NASDAQ, including satisfying NASDAQ's
minimum bid price requirement of $2.00 or $3.00 per share (depending on the applicable
listing standard). The Company believes it currently meets all of NASDAQ's eligibility
requirements with the exception of the minimum bid price requirement.
"Relisting our ordinary shares on the NASDAQ will allow a broader range of investors
the ability to buy our ordinary shares and create greater liquidity for the shares. This
uplisting is also expected to provide greater visibility within the investment community
and reflects the significant financial progress we have achieved as part of our effort to
build shareholder value," commented Shimon Alon, Chairman and CEO of Attunity. "Over the
past two years, we have made significant progress in growing our business globally as a
leading provider of information availability software solutions. This has included the
development of new innovative solutions and the acquisition of RepliWeb in 2011, creating
one of the most complete solutions for the management of structured and unstructured data.
We are excited by our growth, which has resulted in increased profitability, our expansion
into the Big Data and Cloud Computing space, as it comes into contact with enterprises,
and now, executing our plan to relist on NASDAQ."
The Special Meeting of Shareholders
The Company announced that that it will hold a special meeting of shareholders on
Thursday, June 21, 2012 at 10:00 a.m. (Israel Time) at Attunity's offices in Kfar-Netter
Industrial Park, Kfar-Netter, Israel. The record date for the meeting is May 16, 2012.
The agenda of this special meeting is to authorize Attunity's Board of Directors to
effect a maximum 1-for-5 reverse split of Attunity's ordinary shares in connection with
the possible relisting of its shares on NASDAQ and to approve related amendments to
Attunity's Memorandum and Articles of Association. The Company clarified that it does not
intend to effect a reverse split, unless and until its Board of Directors determines at a
future date it is necessary and advisable in order to relist on NASDAQ.
This item requires the approval of no less than 75% of the shares voted on the matter.
In the absence of a requisite quorum of shareholders at the meeting, the meeting shall
be adjourned to the same day in the next week, at the same time and place, or any other
date and place as the board of directors shall designate and state in a notice to the
shareholders entitled to vote at the original meeting.
Additional Information and Where You Can Find It
In connection with the meeting, Attunity will send to its shareholders of record a
proxy statement describing the matters to be voted upon at the meeting, along with a proxy
card enabling them to indicate their vote on the matter. Attunity will also furnish copies
of the proxy statement and proxy card to the Securities and Exchange Commission (SEC) on
Form 6-K, which may be obtained for free from the SEC's website at http://www.sec.gov,
Attunity's website at http://www.attunity.com or by directing such request to the
Company's Investor Relations below.
About Attunity
Attunity is a leading provider of information availability software solutions that
enable access, sharing and distribution of data across heterogeneous enterprise platforms,
organizations, and the cloud. Our software solutions include data replication
[http://www.attunity.com/attunity_replicate ], change data capture
[http://www.attunity.com/attunity_stream ] (CDC), data connectivity
[http://www.attunity.com/attunity_connect ], enterprise file replication
[http://www.repliweb.com/products/r1-r/index.php ] (EFR) and managed-file-transfer
[http://www.repliweb.com/products/rmft/index.php ] (MFT). Using Attunity's software
solutions, our customers enjoy significant business benefits by enabling real-time access
and availability of data and files where and when needed, across the maze of heterogeneous
systems making up today's IT environment.
Attunity has supplied innovative software solutions to its enterprise-class customers
for nearly 20 years and has successful deployments at thousands of organizations
worldwide. Attunity provides software directly and indirectly through a number of partners
such as Microsoft, Oracle, IBM and HP. Headquartered in Boston, Attunity serves its
customers via offices in North America, Europe, and Asia Pacific and through a network of
local partners. For more information, visit http://www.attunity.com or our In Tune
blog [http://blog.attunity.com ] and join our community on Twitter
[http://www.twitter.com/attunity ], Facebook [http://www.facebook.com/attunity ], LinkedIn
[http://www.linkedin.com/groups?about=&gid(84948&trk=anet_ug_grppro ] and YouTube
[http://www.youtube.com/attunity ].
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other
Federal Securities laws. Statements preceded by, followed by, or that otherwise include
the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and
similar expressions or future or conditional verbs such as "will", "should", "would",
"may" and "could" are generally forward-looking in nature and not historical facts. For
example, when we discuss our outlook for 2012 or relisting on NASDAQ and its possible
effects, we are using a forward-looking statement. Because such statements deal with
future events, they are subject to various risks and uncertainties and actual results
could differ materially from Attunity's current expectations. Factors that could cause or
contribute to such differences include, but are not limited to: our reliance on strategic
relationships with our distributors, OEM and VAR partners, including Microsoft; risks and
uncertainties relating to the acquisition of RepliWeb, including costs and difficulties
related to integration of acquired businesses, the combined companies' financial results
and performance, and known or unknown contingent liabilities, including litigation, costs,
tax and expenses; our liquidity challenges and the need to raise additional capital in the
future; timely availability and customer acceptance of Attunity's new and existing
products, including Attunity Replicate; changes in the competitive landscape, including
new competitors or the impact of competitive pricing and products; a shift in demand for
products such as Attunity's products; the impact on revenues of economic and political
uncertainties and weaknesses in various regions of the world, including the commencement
or escalation of hostilities or acts of terrorism; and other factors and risks on which
Attunity may have little or no control. This list is intended to identify only certain of
the principal factors that could cause actual results to differ. For a more detailed
description of the risks and uncertainties affecting Attunity, reference is made to
Attunity's Annual Report on Form 20-F/A for the year ended December 31, 2011, which is on
file with the Securities and Exchange Commission (SEC) and the other risk factors
discussed from time to time by Attunity in reports filed or furnished to the SEC. Except
as otherwise required by law, Attunity undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events.
(c) 2012 Attunity Ltd. All rights reserved. Attunity is a trademark of Attunity Inc.
For more information, please contact:
Todd Fromer / Garth Russell
KCSA Strategic Communications
P: +1-212-682-6300
tfromer@kcsa.com / grussell@kcsa.com
Dror Harel-Elkayam, CFO
Attunity, Ltd.
Tel: +972-9-899-3000
dror.elkayam@attunity.com [dror.elkayam@attunity.com ]
Source: Attunity Ltd