Result of General Meeting Approval of Delisting
The Board of Visonic announces that the Resolutions proposed at the General Meeting (“GM”) held earlier today, to approve the cancellation of listing of its Shares on the Official List and the trading of its Shares on the main market of the London Stock Exchange and to approve the proposed amendments to the Company’s Articles of Association (“Articles”), as set out in the notice of GM sent to Shareholders dated 11 January 2010, were duly approved by Shareholders1.
Accordingly, the Delisting, which was conditional upon the consent of not less than 75 per cent. of the votes cast at the GM in relation to the Delisting Resolution, is expected to occur at 8.00 a.m. (UK time) on 5 March 2010, being at least twenty clear business days following the date that shareholder approval was obtained. The Company has made a formal application for Delisting.
The Company intends to close the UK Branch Register and terminate the depository interest facility shortly following the Delisting, at which point depositary interests will automatically be removed from CREST and all Shares on the UK Branch Register will be transferred to the IL Principal Register. Depositary interest holders will be given notice of the termination of the facility and the Company will announce such date on its website.
Clal Finance - Contact Details:
Shareholders who wish to transfer their shares from UK to Israel can open an account via a stock member in Israel. Visonic has contacted Clal Finance Batucha Investment Management Limited which proposes such services to shareholders:
Clal Finance Batucha Investment Management Ltd.
Mrs. Mirit Amar
Rubinshtein House, 3rd fl.
37, Menahem Begin Road
Tel-Aviv 65220 Israel