TEL AVIV, Israel, May 2 /PRNewswire-FirstCall/ -- RiT Technologies, Ltd.(NASDAQ: RITT), following on its announcement on March 27, 2008, announcedthat STINS COMAN Incorporated ('STINS COMAN') commenced a partial tenderoffer today to purchase for cash 734,079 ordinary shares of RiT, or suchgreater number of shares that will represent 5% of the total voting rights ofRiT's outstanding ordinary shares as of the expiration of the offer, at theprice of $0.86 per share, net, without interest, upon the terms and subjectto the conditions of the offer.
As previously announced, on March 27, 2008, STINS COMAN entered into asecurities purchase agreement with Messrs. Yehuda Zisapel, Zohar Zisapel andMeir Barel to purchase all 5,122,521 RiT shares held by them (and theiraffiliates) for a total of $4,405,368, or $0.86 per share. That purchase iscontingent on the completion of the tender offer commenced today. Followingconsummation of the offer and the purchase contemplated by the securitiespurchase agreement, and assuming that none of RiT's outstanding options areexercised, STINS COMAN will beneficially own approximately 39.9% of RiT'soutstanding ordinary shares.
The complete terms and conditions of the tender offer are contained inthe Offer to Purchase included as an exhibit to the Tender Offer Statement onSchedule TO filed by STINS COMAN on May 2, 2008 with the U.S. Securities andExchange Commission.
IMPORTANT NOTICE:
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND IS NEITHER ANOFFER TO PURCHASE NOR A SOLICITATION OF AN OFFER TO SELL SECURITIES.INVESTORS AND SHAREHOLDERS OF RiT ARE STRONGLY ADVISED TO READ THE TENDEROFFER STATEMENT OF STINS COMAN, THE LETTER OF TRANSMITTAL AND RELATED TENDEROFFER MATERIALS AND TO READ THE SOLICITATION/RECOMMENDATION STATEMENT WITHRESPECT TO THE TENDER OFFER WHICH WILL BE FILED IN DUE COURSE BY RiT BECAUSETHEY CONTAIN IMPORTANT INFORMATION THAT SHAREHOLDERS SHOULD CONSIDER BEFOREMAKING ANY DECISIONS REGARDING TENDERING THEIR SHARES. INVESTORS ANDSHAREHOLDERS MAY OBTAIN THE TENDER OFFER STATEMENT AND THESOLICITATION/RECOMMENDATION STATEMENT AND OTHER FILED DOCUMENTS AT NO CHARGEON THE SEC'S WEB SITE (http://www.sec.gov) AND AT NO CHARGE BY CONTACTINGMACKENZIE PARTNERS, INC., THE INFORMATION AGENT FOR THE TENDER OFFER, AT+1-212-929-5500 OR TOLL FREE (800)322-2885.
About RiT Technologies:
RiT is a leading provider of physical network infrastructure control andmanagement solutions.
