Ad hoc:WizCom Technologies Ltd.:Ad hoc: WizCom Assessing Potential Claims Against Former Supplier
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Rosh Ha'ayin, March 29, 2010. Following the ad-hoc-announcement as of February
22, 2010, Wizcom Technologies Ltd. (Prime Standard: WZM, IL 0010830706)
announces today that the Company is in the process of conducting extensive
investigations, initiated by the Board of Directors and Management, into pricing
over the last five years by Teliran (1993) Ltd., exclusive turn-key supplier for
Wizcom products since 2005. In the course of this investigation, Wizcom
Management is particularly looking into the pricing method and examining whether
it conformed with the existing agreements between the companies.
While Wizcom is still in the process of analyzing data and invoices related to
such sales, and is not yet in a position to fully assess the actual volume of
any potential claims against Teliran, preliminary results indicate that the
Company may have cause to pursue legal action against Teliran in order to
attempt to recover funds related to over-payments. As the total amount
potentially is significant, the Board has retained external auditors to
ascertain the validity of any possible claims.
In the meantime, Wizcom has closed a supply agreement with the CAM Group, an
Israeli electronic subcontractor. The agreement with CAM is non-exclusive as
per Wizcom's strategy to reduce dependency on a single supplier.
For further information:
WizCom Technologies Ltd.
Shimon Amouyal, CEO
13 Hamelacha St.
Rosh Ha'ayin, 48091, Israel
Telefon +972-3-9103330
shimona(at)wizcomtech.com
http://www.wizcomtech.com
SCHWARZ Financial Communication
Frank Schwarz
Investor Relations
Telefon +49-611-1745-398-11
Schwarz(at)schwarzfinancial.com
[HUG#1398540]
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WizCom Technologies Ltd.
8B Hamarpe St. Jerusalem Israel
WKN: 915856;ISIN: IL0010830706;Index:Prime All Share,TECH All Share;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;
PDF Version of Ad Hoc Release: http://hugin.info/130210/R/1398540/354305.pdf
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Datum: 29.03.2010 - 03:47 Uhr
Sprache: Deutsch
News-ID 1012099
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