RISCO Increases Tender Offer Price for International Electronics; Reduces Conditions
30 4월 2007 - 10:00PM
PR Newswire (US)
BOSTON, April 30 /PRNewswire-FirstCall/ -- Rokonet Industries,
U.S.A., Inc., a wholly-owned subsidiary of RISCO Ltd. (RISCO),
announced today that it has amended its outstanding cash tender
offer for all of the common stock of International Electronics,
Inc. (IEI) (OTC:IEIB) (BULLETIN BOARD: IEIB) not already owned by
it or its subsidiaries to: * Increase the offer price to $4.00 per
share in cash -- an increase of over 14% from the previous offer; *
Waive RISCO's right to reduce the tender price while its offer is
outstanding; and * Reduce the minimum number of shares required to
be validly tendered and not withdrawn in RISCO's offer to 50.1% of
the outstanding shares (on a fully diluted basis). "On May 18, IEI
shareholders have a very important vote," said RISCO Chairman,
Moshe Alkelai. "They will decide whether any IEI shares RISCO
acquires in its tender offer will have voting rights. RISCO's all
cash, fully financed offer, is not conditioned on due diligence and
will pay all tendering shareholders $4.00 cash per share. It is
truly unfortunate that IEI's Management and Board seek to obstruct
the rights of shareholders, the true owners of the Company, by
entrenching themselves. Had they not done so RISCO's offer could
have been consummated long ago." MacKenzie Partners, Inc. is the
Information Agent for RISCO's tender offer and any questions or
requests for the Offer to Purchase and related materials with
respect to the tender offer may be directed to MacKenzie Partners,
Inc. Additional Information and Where to Find It This communication
may be deemed to be solicitation material in respect of the
solicitation of proxies of Rokonet Industries, U.S.A., Inc. from
stockholders of IEI in connection with the special meeting of IEI
stockholders to be held on May 18, 2007. Rokonet Industries,
U.S.A., Inc. will file a definitive proxy statement on Schedule
14A. IEI STOCKHOLDERS SHOULD READ THOSE MATERIALS CAREFULLY BECAUSE
THEY CONTAIN IMPORTANT INFORMATION REGARDING RISCO'S PROPOSAL.
Stockholders will be able to obtain the proxy statement and related
materials with respect to the special meeting free at the SEC's
website at http://www.sec.gov/ or from Rokonet Industries, U.S.A.,
Inc. by contacting Mackenzie Partners, Inc. toll free at
1-800-322-2885 or collect at 1-212-929-5500 or via email at . The
offer to buy IEI common stock is only being made pursuant to an
offer to purchase and related materials that Rokonet Industries,
U.S.A., Inc. has filed with the SEC. IEI STOCKHOLDERS SHOULD READ
THESE MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT
INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER.
Stockholders will be able to obtain the offer to purchase and
related materials with respect to the tender offer at the SEC's
website at http://www.sec.gov/ or from Rokonet Industries, U.S.A.,
Inc. by contact Mackenzie Partners, Inc. toll free at
1-800-322-2885 or collect at 1-212-929-5500 or via email at .
Participants in Solicitation Rokonet Industries, U.S.A., Inc. and
its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the holders of IEI
common stock in respect of the proposed special meeting of
stockholders. Certain information about such persons and their
interest in the solicitation will be contained in the proxy
statement regarding the special meeting, when it becomes available.
DATASOURCE: RISCO CONTACT: Bob Marese, +1-212-929-5045, or Lex
Flesher, +1-212-929-5397, both of MacKenzie Partners, Inc. for
RISCO
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