TEL-AVIV, Israel, July 21, 2016 /PRNewswire/ --
Metalink Ltd. (OTCQB: MTLK), today announced that its Board of
Directors has determined to halt, and not pursue at this stage, its
previously announced plan to voluntary liquidate the Company (and
distribute all of its net cash to shareholders on a pro rata
basis).
Following careful consideration of the matter in light of, among
other things, the previously disclosed objection to the plan by one
of its principal shareholders coupled with the need to approve the
liquidation by shareholders holding at least 75% of all shares
voted on the matter, the Board of Directors has determined, in
consultation with its legal advisors, to halt the plan at this
stage and, at the same time, continue to explore other strategic
alternatives aimed at enhancing value to shareholders.
ABOUT METALINK
Metalink shares are quoted on OTCQB under the symbol "MTLK". For
more information, please see our public filings at the SEC's
website at http://www.sec.gov .
SAFE HARBOR STATEMENT
This press release contains "forward looking statements" within the
meaning of the United States
securities laws. Words such as "aim," "expect," "estimate,"
"project," "forecast," "anticipate," "intend," "plan," "may,"
"will," "could," "should," "believe," "predicts," "potential,"
"continue," and similar expressions are intended to identify such
forward-looking statements. Because such statements deal with
future events, they are subject to various risks and uncertainties
that could cause actual results to differ materially from those in
the forward looking statements. Factors that could cause or
contribute to such differences include, but are not limited to, the
liquidation plan of the Company, the amount of cash that will be
returned to shareholders, the timing of a liquidation process, the
timing of liquidation distribution(s), and other matters set forth
from time to time in Metalink's filings with the Securities and
Exchange Commission, including Metalink's Annual Report in Form
20-F. Readers are cautioned not to place undue reliance on
forward-looking statements. Except as required by applicable law,
the Company undertakes no obligation to republish or revise
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrences of unanticipated
events. The Company cannot guarantee future results, events, and
levels of activity, performance, or achievements.
Contact:
Shay Evron, Acting CEO & CFO
Metalink Ltd.
Tel: +972-3-7111690
Fax: +972-3-7111691
Shay.Evron@il.gt.com
SOURCE Metalink Ltd.