Bogen Board Approves Subsidiary Spin-off
Bogen Board Approves Subsidiary Spin-off
RAMSEY, N.J.--(BUSINESS WIRE)-- On October 31, 2012, the Board of Directors of Bogen Communications International, Inc. (Pink Sheets: BOGN.PK) ("Bogen"), approved the spin-off of its wholly-owned subsidiary, Bogen Corporation ("Bogen Corp."). Shareholders of record as of the record date, November 19, 2012, received an Information Statement describing the transaction in detail. Subject to shareholder approval of the transaction, Bogen will distribute all of the shares of Bogen Corp. common stock on a pro rata basis to the holders of Bogen common stock holding shares as of the record date, November 19, 2012. The distribution of the shares will occur on December 21, 2012. Any one who purchases Bogen stock after November 19, 2012, will not receive the shares of Bogen Corp., which will be distributed only to the holders of record on November 19, 2012.
A shareholder meeting will be held on November 29, 2012, to consider and vote on the spin-off. However, as of the record date, 70.7% of the shares of Bogen were held by directors or executive officers of Bogen or its affiliates. All of Bogen's directors and certain executive officers have indicated that they intend to vote, in their capacity as shareholders of the Company, in favor of the spin-off of Bogen Corp.
Please visit Bogen's website at www.bogen.com for additional information about the Company and its products and services.
About Bogen
Bogen Communications International, Inc., based in Ramsey, New Jersey, and Germering, Germany, develops, manufactures, and markets telecommunications peripherals, sound processing equipment, and Unified Messaging products and services. Bogen's products are sold to commercial, industrial, professional, and institutional customers worldwide.
Bogen Communications International, Inc.
Maureen A. Flotard, 201-934-8500
CFO and VP-Finance
KEYWORDS: United States North America New Jersey
INDUSTRY KEYWORDS:
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