Increased Shareholders' Equity Will Satisfy the Associated Listing Requirement for a New Listing on a National Exchange
BURLINGTON, MA, January 4, 2012 - Attunity Ltd. (OTC BB: ATTUF.OB), a leading provider of real-time data integration software, announced today that Messrs. Shimon Alon (ChairmanCEO of Attunity)Ron Zuckerman (member of Attunity's Board of Directors), the holders of approximately $740,000, an aggregate principal amount of the Company's outstanding convertible promissory notes due 2012 (the "Notes"), have agreed to immediately convert their Notes into ordinary shares of Attunity. The Notes being converted represent approximately 47% of the Notes outstanding.
The Company also announced that it is considering the
relisting of its ordinary shares on the NASDAQ or the NYSE
Amex, pending market conditionssatisfaction of the
applicable listing criteria.
Dror Harel-Elkayam, CFO of Attunity, commented: "We are
excited that our principal debt holders have agreed to
convert debt into shares of Attunity, as it will strengthen
the Company's balance sheetincrease total shareholders'
equity. This conversion is also an important vote of
confidence in Attunity's future as we continue to
rapidly expand our business with new solutions for the
cloudenterprise environmentnew customer agreements.
Furthermore, by reducing our debt, Attunity will be able to
invest more resources towards the salesmarketing of these
new solutions."
Messrs. AlonZuckerman as well as the other holders of the
Notes, in a total principal amount of approximately $1.6
million, were offered incentives to convert all or part of
their Notes into ordinary shares. The offer made by the
Company expires on January 31, 2012.
Additional details regarding the conversion by Messrs.
AlonZuckermanthe conversion offer are included in the
Report on Form 6-K that the Company will furnish to the
SecuritiesExchange Commission (SEC) today.
About Attunity
Attunity is a leading provider of real-time data
integration software that enables access,
sharingdistribution of data across heterogeneous enterprise
platforms, organizations,the cloud. Our offering includes
software solutions such as (MFT) offered through our
RepliWeb division. Using Attunity's software solutions, our
customers enjoy dramatic business benefits by enabling
real-time accessavailability of datafiles wherewhen needed,
across the maze of heterogeneous systems making up today's
IT environment.
Attunity has supplied innovative software solutions to its enterprise-class customers for nearly 20 yearshas successful deployments at thousands of organizations worldwide. Attunity provides software directlyindirectly through a number of partners such as Microsoft, Oracle, IBMHP. Headquartered in Boston, Attunity serves its customers via offices in North America, Europe,Asia Pacificthrough a network of local partners. For more information, visit join our community on , .
Safe Harbor Statement
This press release contains forward-looking statements
within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act
of 1995other Federal Securities laws. Statements preceded
by, followed by, or that otherwise include the words
"believes", "expects",
"anticipates", "intends",
"estimates", "plans",similar
expressions or future or conditional verbs such as
"will", "should", "would",
"may""could" are generally
forward-looking in naturenot historical facts. For example,
when we discuss the relisting on NASDAQ/AMEX, we are using
a forward-looking statement. Because such statements deal
with future events, they are subject to various
risksuncertaintiesactual results could differ materially
from Attunity's current expectations.
Factors that could cause or contribute to such differences
include, but are not limited to: risksuncertainties
relating to the acquisition of RepliWeb, including
costsdifficulties related to integration of acquired
businesses, the combined companies' financial
resultsperformance,ability to repay debttiming thereof; our
liquidity challengesthe need to raise additional capital in
the future; market acceptance of the Attunity Replicatethe
development of a market for such product; timely
availabilitycustomer acceptance of Attunity's newexisting
products; any unforeseen developmental or technological
difficulties with regard to Attunity's products; changes in
the competitive landscape, including new competitors or the
impact of competitive pricingproducts; a shift in demand
for products such as Attunity's products; unknown factors
affecting third parties with which Attunity has formed
business alliances; the impact on revenues of
economicpolitical uncertaintiesweaknesses in various
regions of the world, including the commencement or
escalation of hostilities or acts of terrorism;other
factorsrisks on which Attunity may have little or no
control. This list is intended to identify only certain of
the principal factors that could cause actual results to
differ.
For a more detailed description of the risksuncertainties
affecting Attunity, reference is made to Attunity's latest
Annual Report on Form 20-F, which is on file with the
SecuritiesExchange Commission (SEC)the other risk factors
discussed from time to time by Attunity in reports filed or
furnished to the SEC. Except as otherwise required by law,
Attunity undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
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© Attunity 2012. All Rights Reserved. Attunity is a registered trademark of Attunity Inc. All other productcompany names herein may be trademarks of their respective owners.
For more information, please contact:
Todd Fromer / Garth Russell
KCSA Strategic Communications
P: +1-212-682-6300
tfromer@kcsa.com / grussell@kcsa.com
Dror Harel-Elkayam, CFO
Attunity Ltd.
Tel. +972-9-899-3000
dror.elkayam@attunity.com
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