June 25, 2009, Hod Hasharon, Israel - Leadcom Integrated Solutions Ltd. ('Leadcom' or 'the Company'), (AIM: LEAD), following the Company's announcement on June 8 2009, the Company announces that yesterday, June 24 2009, the Company held a general meeting ("Meeting") of holders of its debentures (Series A). The purpose of the meeting was for management to provide the debenture holders with an update on the business.
The debenture holders proposed to appoint a representative body, and a decision with regards to their proposal will be taken in the coming days.
During the Meeting, the Company's CEO, Mr. Alcalay, referring to participants' questions, said that taking into account current conditions, the Company intends to repay its obligations in a timely manner, including the upcoming periodic repayment due to debenture holders on July 15 2009. Mr. Alcalay said that he is of the opinion that the Company's Q2/2009 cash flow from operations is expected to be positive, that significant improvement occurred lately in the Company's collection of debts from clients in India and Africa and, accordingly, a decrease in the client receivables is expected in the Q2/2009 accounts.
Enquiries:
Ron Belkine - Leadcom
General Counsel & Company Secretary
Tel: +972 9 7690120
Andrew Godber – Panmure Gordon
Tel: +44 (0) 20 7614 8385 |