NETANYA, Israel, July 16, 2010 /PRNewswire/ -- VocalTec
Communications Ltd. (Nasdaq: VOCL), the inventor of VOIP and the
softphone, today announced a 1-for-5 reverse split of its share
capital.
The reverse split results in every five issued and outstanding
ordinary shares being exchanged for one issued and outstanding
ordinary share; the par value of the company's ordinary shares
being multiplied by five; and the total number of shares underlying
outstanding options and warrants being divided by five, with the
exercise price per share under such options and warrants being
multiplied by five. The reverse split will reduce the total number
of outstanding shares and shares underlying outstanding options and
warrants from 5,866,470 and 4,566,160, respectively, to 1,173,294
and 913,232, respectively. Any fractional share of 0.50 or more
resulting from the foregoing reverse stock split will be rounded up
to the nearest whole number and any fractional share of less than
0.50 resulting from the foregoing reverse stock split will be
rounded up to the nearest whole number.
Please refer to the company's press release relating to the
merger of the company with YMax Corporation.