TEL AVIV, Israel, May 18, 2015 /PRNewswire/ --
Radcom Ltd., (NASDAQ: RDCM),
("RADCOM" or the
"Company") announced today that
the Audit Committee and Board of Directors of the Company, approved
an extension for another year, of the consultancy engagement
between the Company and Ms. Heli
Bennun and/or a company controlled by her (the
"Consultant"). Ms. Bennun is the domestic partner of Mr. Zohar
Zisapel, the Company's Chairman and its largest shareholder, with
holdings of approximately 32% of the Company's voting power.
The key terms of the agreement being extended, are the
following:
1. The Consultant will provide advisory services to the Company's management with
respect to the Company's business operations;
2. In consideration for the services rendered, Radcom shall pay the Consultant a monthly amount equal to the maximum amount permitted by the applicable regulations, which may not exceed the average monthly salary to an employee in
Israel, plus VAT.
3. The engagement shall be for a period of 12 months expiring on January 11th 2016
or as otherwise agreed to between the parties.
4. The Consultant will provide a service of at least 25 hours per month on average
during the term of the agreement.
NOTE: As required by the Israeli Companies Law, the
transaction was approved by the Audit Committee and the Board of
Directors of Radcom Ltd. In accordance with regulations promulgated
under the Israeli Companies Law, a shareholder(s) holding more than
1% of the Company's outstanding shares may demand, 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 June
1 2015, that the Company convene a shareholder meeting to
approve the said agreement.
About RADCOM
RADCOM provides innovative service assurance and customer
experience management solutions for leading telecom operators and
communications service providers. RADCOM specializes in solutions
for next-generation mobile and fixed networks, including LTE,
VoLTE, IMS, VoIP, UMTS/GSM and mobile broadband. RADCOM's
comprehensive, carrier- grade solutions are designed for big data
analytics on terabit networks, and are used to prevent service
provider revenue leakage and to enhance customer care management.
RADCOM's products interact with policy management to provide
self-optimizing network solutions. RADCOM's shares are listed on
the NASDAQ Capital Market under the symbol RDCM. For more
information, please visit http://www.radcom.com
Risks Regarding Forward-Looking Statements
Certain statements made herein that use words such as
"estimate," "project," "intend," "expect," "'believe", "may",
"might", "predict", "potential", "anticipate", "plan" or similar
expressions are intended to identify forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements involve known and unknown
risks and uncertainties that could cause the actual results,
performance or achievements of the Company to be materially
different from those that may be expressed or implied by such
statements, including, among others, changes in general economic
and business conditions and specifically, decline in the demand for
the Company's products, inability to timely develop and introduce
new technologies, products and applications, and loss of market
share and pressure on prices resulting from competition. For
additional information regarding these and other risks and
uncertainties associated with the Company's business, reference is
made to the Company's reports filed from time to time with the
United States Securities and Exchange Commission. The Company does
not undertake to revise or update any forward-looking statements
for any reason.
Contact:
Uri Birenberg
CFO
+972-77-774-5060
Urib@radcom.com
SOURCE RADCOM Ltd