TEL AVIV, Israel--(BUSINESS WIRE)--
Orckit Communications Ltd. (OTCQB: ORCT) (the "Company")
today announced, following the Company's report of April 14, 2014
announcing that it has scheduled a creditors' meeting for May 4, 2014
and a shareholders' meeting for May 14, 2014 to vote upon the proposed
arrangement under Section 350 of the Israeli Companies Law, that the
creditors' meeting has been postponed pending the completion of the
negotiation of the final terms of the arrangement with the
representatives of the creditors. A new date for the creditors' meeting
will be published in the future.
The shareholders' meeting will be held as scheduled on May 14, 2014,
based on the principles set forth in the proxy statement filed by the
Company on April 14, 2014. There may be no further updates regarding the
arrangement prior to the shareholders' meeting.
About Orckit Communications Ltd.
Orckit facilitates the delivery by telecommunication providers of high
capacity broadband residential, business and mobile services over
wireline or wireless networks with its Orckit-Corrigent family of
products. Orckit was founded in 1990 and became publicly traded in 1996.
Orckit's shares are traded on the OTCQB and the maintenance list of the
Tel Aviv Stock Exchange and is headquartered in Tel-Aviv, Israel.
For more information, please visit http://www.orckit.com.
Follow Orckit on Twitter @ORCT.
Orckit Communications Ltd.
Oren Tepper, phone: +972-3-694-5260
Source: Orckit Communications Ltd.