Wizcom Technologies Ltd. / Ad hoc: Court Approves Liquidation of Assets of Wizcom Technologies Ltd. . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
Rosh Ha'ayin, June 29, 2012 - Wizcom Technologies Ltd. (Prime Standard: WZM, IL 0010830706) announces that the Court of Petach Tikva has approved the application of the nominated administrator of the Company, Ms. Hanit Nov, to sell all the assets of Wizcom Technologies Ltd. The administrator has found potential buyers for Wizcom's wholly owned subsidiaries Ligature Ltd. and Galil Microwaves Israel (2003) Ltd. Together with the proceeds from the selling of inventory of Wizcom Technologies, the liquidation of assets is expected to realize a net amount of USD 100,000 to 150,000. The accrued liabilities of the Company sum up to approx. USD 2.5 million. For Wizcom's wholly owned U.S.-subsidiary, Wizcom Technologies, Inc., no potential buyer could be identified. Accordingly the U.S. operations will be shut down during the coming weeks.
After the process of liquidation of assets, the corporation Wizcom Technologies Ltd. will remain as a shell. The administration of Wizcom Technologies Ltd. has applied with Deutsche Boerse AG for a change of the listing segment from Prime to General Standard, due to the fact that without operating activities it does not see an additional value of frequent reporting to the capital market.
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Source: Wizcom Technologies Ltd. via Thomson Reuters ONE
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Wizcom Technologies Ltd.
13 Hamelacha St. Rosh Ha'ayin Israel
WKN: 915856;ISIN: IL0010830706;Index:Prime All Share,TECH All Share;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
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