RADCOM Provides Notice of Entering Into a Related Party Transaction
TEL AVIV, Israel, November 27, 2012
TEL AVIV, Israel, November 27, 2012 /PRNewswire/ --
RADCOM Ltd. ("RADCOM"or the"Company") announced today that the Audit
Committee and Board of Directors of the Company unanimously approved the
entering into a loan agreement between the Company and Mr. Zohar Zisapel
(and/or a company controlled by him), the Company's Chairman and its largest
shareholder with holdings of approximately 34% of the Company's voting power.
The key terms of the loan agreement are as follows:
1.Mr. Zisapel will extend a loan of up to 3,000,000 New Israeli Shekels to
2.The loan will be interest-free and will only be linked to the Israeli
Consumer Price Index; and
3.The Company is obligated to repay the loan by March 31, 2013, unless
otherwise agreed upon by Mr. Zisapel and the Company.
The Audit Committee and the Board of Directors of the Company have unanimously
resolved that the entry by the Company into the loan agreement substantially
upon the terms described above is solely for the benefit of the Company.
As required by the Israeli Companies Law, the abovementioned transaction was
approved by the Audit Committee and the Board of Directors of the Company. In
accordance with regulations promulgated under the Israeli Companies Law,
holders of 1% or more of the outstanding Ordinary Shares of the Company may
demand that the Company convene a general meeting of shareholders to approve
the abovementioned loan agreement, by sending a written request to the
Company's principal offices (RADCOM Ltd., 24 Raoul Wallenberg Street, Tel Aviv
69719, Israel, Attn.: Chief Financial Officer) no later than December 11,
2012. If no request is received by such date, the abovementioned transaction
will not require the approval of the Company's shareholders.
RADCOM provides innovative service assurance solutions for communications
service providers and equipment vendors. RADCOM specializes in solutions for
next-generation networks, both wireless and wireline. RADCOM's comprehensive,
carrier strength solutions are used to prevent service provider revenue
leakage and enable management of customer care. RADCOM's products facilitate
fault management, network service performance analysis, troubleshooting and
pre-mediation with an OSS/BSS. RADCOM's shares are listed on the NASDAQ
Capital Market under the symbol RDCM. For more information, please visit
SOURCE RADCOM Ltd
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