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PRESS RELEASES
TEL AVIV, Israel, May 9 /PRNewswire-FirstCall/ -- Scopus Video Networks
Ltd. (NASDAQ: SCOP), a provider of digital video networking products, today
announced that a Special Meeting of Shareholders will be held on Monday, June
16, 2008 at 4:00 p.m., Israel time, at the offices of the Company, 10 Ha'amal
Street, Park-Afek, Rosh-Ha'ayin 48092, Israel. The record date for the
meeting is May 9, 2008. As required by Israeli law, the meeting is convened
at the request of Optibase Ltd. ("Optibase"), a 37% shareholder of the
Company.
The Company will mail to its shareholders of record a notice and proxy
statement describing the matters to be voted upon at the meeting, along with
a proxy card enabling them to indicate their vote on each matter. The Company
will also furnish the proxy statement to the Securities and Exchange
Commission (SEC) on Form 6-K.
The agenda of the meeting is as follows:
1. To consider and act on the Board's proposal to amend the Company's
Articles of Association in a manner that will declassify the Company's Board
of Directors, effective as of the next annual meeting ("Proposal 1");
2. To consider and act on Optibase's proposal to amend the Company's
Articles of Association in a manner that will declassify the Company's Board
of Directors ("Proposal 2"); and
3. Subject to approval of Proposal 2, to consider and act on Optibase's
proposal to elect five nominees proposed by Optibase to the Company's Board
of Directors ("Proposal 3").
The affirmative vote of at least seventy five percent (75%) of the votes
of shareholders present and voting at the meeting in person or by proxy,
excluding abstentions, is required to constitute approval of Proposals 1 and
2. The affirmative vote of at least a majority of the votes of the
shareholders present and voting at the meeting in person or by proxy,
excluding abstentions, is required to constitute approval of Proposal 3.
However, if Proposal 2 is not approved by the requisite vote, Proposal 3 will
become invalid.
The Board of Directors unanimously recommends that you vote:
- "FOR" Proposal 1
- "AGAINST" Proposal 2
- "AGAINST" Proposal 3
Additional details of the meeting, including the reasons for the Board's
recommendations, will be announced shortly.
About Scopus Video Networks
Scopus Video Networks (NASDAQ:SCOP) develops, markets and supports
digital video networking solutions that enable network operators to offer
advanced video services to their subscribers. Scopus' solutions support
digital television, HDTV, live event coverage and content distribution.
Scopus' comprehensive digital video networking solution offerintelligent
video gateways, encoders, decoders and network management products. Scopus'
solutions are designed to allow network operators to increase service
revenues, improve customer retention and minimize capital and operating
expenses.
Scopus' customers include satellite, cable and terrestrial operators,
broadcasters and telecom service providers. Scopus' products are used by
hundreds of network operators worldwide.
For more information visit: http://www.scopus.net
Company Contact: Investor Relations Contact
Moshe Eisenberg Ehud Helft / Kenny Green
Chief Financial Officer GK Investor Relations
Tel: +972-3-900-7100 Tel: (US) +1-646-201-9246
Moshee@scopus.net info@gkir.com
SOURCE Scopus Network Technologies Ltd
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