Business
Metalink Completes Self Tender Offer
Metalink Completes Self Tender Offer.
About this update from Metalink Ltd.
[{"type":"text","content":"\n\n\n\nMetalink Completes Self Tender Offer\n\n\n\n\n\nMetalink Completes Self Tender Offer\nTop Alpha will become the majority shareholder of Metalink\nPR Newswire\nTEL-AVIV, Israel, February 6, 2017\n\n\n\nTEL-AVIV, Israel, February 6, 2017 /PRNewswire/ --\n\nMetalink Ltd. (OTCQB: MTLK), today announced that it has successfully completed its self tender offer to purchase up to 1,945,000 of its ordinary shares for $1.50 per share net to the seller in cash, less any required withholding taxes and without interest. The tender offer, which commenced on December 29, 2016, expired on Friday, February 3, 2017 at 5:00 p.m., New York time.\n\nMetalink has been advised by the depositary for the tender offer that, as of the final expiration of the tender offer, a total of 1,435,217 shares had been validly tendered and not properly withdrawn pursuant to the offer. As contemplated in the offer to purchase, Metalink has accepted for purchase all of the 1,435,217 shares tendered, and shall purchase from each tendering shareholder the full amount of his or her tender. Metalink shall pay for the tendered shares approximately $2.15 million in the aggregate.\n\nThe shares to be purchased represent approximately 53.3% of the 2,690,857 shares issued and outstanding as of immediately prior to the consummation of the tender offer. Metalink will have 1,255,640 shares issued and outstanding as of the time immediately following the payment for the tendered shares (excluding 1,525,067 treasury shares).\n\nPayment for the shares accepted will be made promptly through American Stock Transfer & Trust Company, LLC, the depositary for the tender offer.\n\nTo Metalink's knowledge, after giving effect to the payment for the shares tendered in the offer and accepted for payment, (1) Top Alpha Capital S.M. Ltd., an Israeli company wholly owned by Mr. Daniel Magen, will own, in the aggregate, 670,000 ordinary shares of Metalink, representing approximately 53.4% of the issued and outstanding shares of Metalink, and (2) each of Uzi Rozenberg, the Chairman of the Board of Directors of Metalink, and Tzvi Shukhman, a member of the Board of Directors, who were also principal shareholders of Metalink prior to completion of the offer, will no longer hold any shares of Metalink.\n\nABOUT METALINK \n\nMetalink shares are quoted on OTCQB under the symbol \"MTLK\"....