Notice of Filing of an Application for Approval of
Distribution in Accordance with Section 303 of the Israeli Companies Law, 1999.
In accordance with Section 2(a) of the Israeli Companies Regulations (Approval of Distribution), 2001 (the "Regulations"), notice is hereby given regarding the filing of an application (the "Application") to the District Court in Tel Aviv Jaffa (the "Court") for the approval of such distribution in accordance with Section 303 of the Israeli Companies Law, 1999 (the "Companies Law").
In the Application, the Court has been requested to approve the repurchase by the Company of its issued and outstanding ordinary shares in an amount of up to US$30,000,000 (the "Repurchase"). By carrying out the Repurchase the Company shall use funds in an amount of up to US$30,000,000 that is not derived from the Company's retained earnings.
As of June 30, 2007, 22,518,223 ordinary shares of the Company are quoted on the Nasdaq National Market, with a closing sale price per ordinary shares on September 28, 2007 of US$17.56. As of June 30, 2007, the Company holds 631,563 treasury stock. The Company's share capital, as of June 30, 2007, is equal to US$164.8 million. In deduction of the treasury stock, the Company’s share capital is equal to US$151.8 million.
In accordance with Section 303(c) of the Companies Law, a creditor is entitled to approach the Court and object to the Application and to the consummate the Repurchase. In accordance with Section 3(3) of the Regulations, creditors are entitled to object to the Application for a period of 30 days from the date of publishing this notice (i.e., until October 31st, 2007), or such later date as may be decided by the Court.
The determining date of a person or entity being a creditor of the Company is the date of publishing this notice.
Copies of the Application may be reviewed by creditors and photocopied at such creditors' expense, at the offices of RADVISION Ltd., 24 Raoul Wallenberg Street, Tel Aviv, Israel, Sunday - Thursday, between 09:00 and 15:00. In addition, information regarding the decisions of the Court, including, information with respect to the last date for approaching the Court in order to object to the Application and to the consummation of the Repurchase, should the Court decide to prolong the objection term beyond the 30-day period from the date of publishing this notice, may be obtained from Adv. Rael Kolvesohn at Tel. +972-3-7679300 or Fax +972-3-7679382, Sunday - Thursday, between 09:00 and 15:00, or through electronic mail addressed to Rael@radvision.com.
RADVISION Ltd.
October 1st, 2007