Accent Software International Ltd. announces redemption of outstanding redeemable warrants.Jerusalem--(BUSINESS WIRE)--Nov. 6, 1995--Accent Software International Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ACNTF/ACNWF) announced today that it has called for redemption of all of its outstanding redeemable warrants (the "Warrants"). The Warrants entitle the holders thereof to purchase an aggregate of 937,250 Ordinary Shares of Accent Software International Ltd. (the "Company") at a price of $8.50 per Ordinary Share. Should all the Warrants be exercised by their holders prior to the Redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. , the Company shall realize net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). in excess of $7.7 million. In accordance with their terms, the Warrants are redeemable by the Company if the closing bid price of the Company's Ordinary Shares on all twenty (20) days ending on the third day prior to the day on which the Company gives notice of redemption has been at least 120% of the exercise price of the Warrants. Based on the current exercise price of the Warrants of $8.50, 120% of the exercise price constitutes a price of $10.20. As of the close of trading on Nov. 3, 1995, the closing bid price of the Company's Ordinary Shares exceeded $10.20 for each of the twenty (20) trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. ending thereon. The Company is giving notice to its transfer agent today that the warrants will be redeemed on Dec. 7, 1995 at a price of $0.10 per Warrant. Holders of the Warrants have the right to exercise their Warrants until the close of business on Dec. 6, 1995 by completing the exercise form on the reverse side of the Warrant certificate and transmitting (by certified check A written order made by a depositor to a bank to pay a certain sum to the person designated—the payee—which is marked by the bank as "accepted" or "certified," thereby unconditionally promising that the bank will pay the order upon its or bank draft payable to the Company) to the American Stock Transfer and Trust Company (the Warrant Agent) $8.50 per Warrant exercised. The Company will pay a warrant solicitation fee of $0.25 per Warrant to any broker or dealer who provides written confirmation to the transfer agent that it is entitled to such fee. Accent Software International designs and develops multilingual mul·ti·lin·gual adj. 1. Of, including, or expressed in several languages: a multilingual dictionary. 2. Internet and word processing word processing, use of a computer program or a dedicated hardware and software package to write, edit, format, and print a document. Text is most commonly entered using a keyboard similar to a typewriter's, although handwritten input (see pen-based computer) and software products for retail, corporate, educational, government and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers, and markets these products in more than 20 countries. Founded in 1988, Accent Software International is a publicly-held company (NASDAQ: ACNTF) and is headquartered in Jerusalem. -0- Note to Editors: Accent is a trademark of Accent Software International Ltd. CONTACT: Accent Software International Ltd. Robert Trachtenberg, 011-972-2-793-723 Ext. 242 Bobt@accent.co.il Norman Kreger, 011-972-2-793-723 Ext. 243 Normank@accent.co.il Home Page: http://www.accentsoft.com or Wolfe Axelrod Associates Mona J. Walsh/Gordon H. Wolfe/Joel Herskovits/Barbara Yu 212/370-4500 (Media) 76015.440@compuserve.com |
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