Metalink to distribute cash to shareholders via self tender offer

Board of directors of Metalink Ltd. (OTCQB: MTLK) has approved a plan to distribute up to USD3.5 million in cash to shareholders, the company said.

The distribution, which is expected to be conducted through a repurchase of shares from Metalink shareholders by means of a self tender offer and/or a cash dividend, is subject to the satisfaction of certain conditions, including the approval of the Tel Aviv District Court.

Metalink intends to file an application to the court seeking the court´s approval for distribution of up to USD3.5 million by means of a repurchase of shares from Metalink shareholders and/or cash distribution.

Metalink was an Israeli-based hi-tech company specializing in silicon solutions for wireless and wireline broadband communications.