Syneron Medical Terminates Shareholder Rights Plan
01 Junio 2011 - 9:30AM
Marketwired
Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic
device company, today announced that its Board of Directors has
terminated the shareholder rights plan, effective May 31, 2011.
The shareholder rights plan was adopted on November 11, 2008
after a decline in the market price of Syneron's common stock to
ensure that all Syneron shareholders would be treated fairly in the
event of any unsolicited takeover of the company. Given the
Company's sustained growth, financial strength and the
dissatisfaction of its shareholders to the continuation of the
shareholder rights plan, Syneron's Board of Directors decided that
the protection offered by the shareholder rights plan is no longer
warranted.
"The Board takes pride in responsibly serving the best interests
of Syneron's shareholders, as well as its commitment to strong
corporate governance policies and practices," said Shimon Eckhouse,
Chairman of the Board. "At the recent annual meeting, we listened
carefully to the viewpoints of our shareholders, including the
rejection of the proposal to increase our authorized share capital.
We brought that message back to the Board and reconsidered the need
for the shareholder rights plan. Much has changed since November
2008 and the concerns that we had then, which motivated the Plan's
adoption, are no long as persuasive, so we decided to terminate the
Plan."
The amendment to the shareholder rights plan will be filed with
the Securities and Exchange Commission on a Form 6-K.
About Syneron Medical Ltd. Syneron Medical
Ltd. (NASDAQ: ELOS) is the leading global aesthetic device company
with a comprehensive product portfolio and a global distribution
footprint. The Company's technology enables physicians to provide
advanced solutions for a broad range of medical-aesthetic
applications including body contouring, hair removal, wrinkle
reduction, rejuvenation of the skin's appearance through the
treatment of superficial benign vascular and pigmented lesions, and
the treatment of acne, leg veins and cellulite. The Company sells
its products under two distinct brands, Syneron and Candela.
Founded in 2000, the corporate, R&D, and manufacturing
headquarters for Syneron Medical Ltd. are located in Israel.
Syneron also has R&D and manufacturing operations in the US.
The Company markets and services and supports its products in 90
countries. It has offices in North America, France, Germany, Italy,
Portugal, Spain, UK, Australia, China, Japan, and Hong Kong and
distributors worldwide. Additional information can be found at
www.syneron.com.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
Any statements contained in this document regarding future
expectations, beliefs, goals, plans or prospects constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Further, any statements
that are not statements of historical fact (including statements
containing "believes," "anticipates," "plans," "expects," "may,"
"will," "would," "intends," "estimates" and similar expressions)
should also be considered to be forward-looking statements. There
are a number of important factors that could cause actual results
or events to differ materially from those indicated by such
forward-looking statements, including the risk that the businesses
of Syneron and Candela may not be integrated successfully; the risk
that the merger transaction with Candela may involve unexpected
costs or unexpected liabilities; the risk that synergies from the
merger transaction may not be fully realized or may take longer to
realize than expected; the risk that disruptions from the merger
transaction make it more difficult to maintain relationships with
customers, employees, or suppliers; as well as the risks set forth
in Syneron Medical Ltd.'s most recent Annual Report on Form 20-F,
and the other factors described in the filings that Syneron Medical
Ltd. makes with the SEC from time to time. If one or more of these
factors materialize, or if any underlying assumptions prove
incorrect, Syneron Medical Ltd.'s actual results, performance or
achievements may vary materially from any future results,
performance or achievements expressed or implied by these
forward-looking statements.
In addition, the statements in this document reflect the
expectations and beliefs of Syneron Medical Ltd. as of the date of
this document. Syneron Medical Ltd. anticipates that subsequent
events and developments will cause its expectations and beliefs to
change. However, while Syneron Medical Ltd. may elect to update
these forward-looking statements publicly in the future, it
specifically disclaims any obligation to do so. The forward-looking
statements of Syneron Medical Ltd. do not reflect the potential
impact of any future dispositions or strategic transactions that
may be undertaken. These forward-looking statements should not be
relied upon as representing Syneron Medical Ltd.'s views as of any
date after the date of this document.
Contacts: Asaf Alperovitz Chief Financial Officer + 972 73 244
2283 Email: Email Contact Nick Laudico / Zack Kubow The Ruth Group
646-536-7030/7020 Email: Email Contact / Email Contact
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