SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
The Securities Exchange Act of 1934
For the month of June, 2008
OPTIBASE LTD
(Translation of registrant’s name into English)
2 Gav Yam Center, 7
Shenkar Street, Herzliya 46120, Israel
(Address of principal
executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-N/A
Attached hereto and incorporated by reference herein is a copy of the press release Optibase Announces Completion of a Private Issuance to Tom Wyler.
This report is hereby incorporated by reference to the Registration Statements on Form S-8 (File Nos. 333-10840;333-12814;333-13186;333-91650;333-122128;333-137644;333-139688) of the Company.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| OPTIBASE LTD. (Registrant) By: /s/ Amir Philips —————————————— Amir Philips Chief Financial Officer |
Date: June 25, 2008
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Media Contacts:
Talia Rimon, Director of Corporate Communications, Optibase Ltd. 011-972-9-9709-125 taliar@optibase.com Jennifer Hicks, ink Communications for Optibase +1-617-488-0988 ext. 2 jennifer@theinkstudio.com Investor Relations Contact: Lee Roth / Marybeth Csaby, KCSA for Optibase +1-212-896-1209 / 1236 lroth@kcsa.com / mcsaby@kcsa.com |
FOR IMMEDIATE RELEASE
OPTIBASE ANNOUNCES COMPLETION OF A PRIVATE ISSUANCE TO TOM WYLER
HERZLIYA, Israel, June 25, 2008 – Optibase Ltd. (NASDAQ:OBAS) a leader in advanced digital video solutions announced today that following the receipt of the approval of the Company’s shareholders on June 18, 2008, the Company had completed today a private issuance of 2,816,901 ordinary shares of the Company to Mr. Shlomo (Tom) Wyler, the Company’s President, Chief Executive Officer and Executive Chairman of the Board of Directors, in consideration for US$5 million.
Following the private issuance, Mr. Wyler will hold approximately 31.60% of the Company’s issued and outstanding share capital.
About Optibase
Optibase provides professional
encoding, decoding, video server upload and streaming solutions for telecom operators,
service providers, broadcasters and content creators. The company’s platforms enable
the creation, broadband streaming and playback of high quality digital video.
Optibase’s breadth of product offerings are used in applications, such as: video over
DSL/Fiber networks, post production for the broadcast and cables industries, archiving;
high-end surveillance, distance learning; and business television. Headquartered in
Israel, Optibase operates through its fully owned subsidiary in Mountain View, California
and offices in, Japan, China, India and Singapore. Optibase products are marketed in
over 40 countries through a combination of direct sales, independent distributors, system
integrators and OEM partners. For further information, please visit
www.optibase.com.
This press release contains forward-looking statements concerning our marketing and operations plans. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this press release are made based on management’s current expectations which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements. These statements involve a number of risks and uncertainties including, but not limited to, risks related to the video technologies market in general, and the evolving IPTV market in particular, competition, our ability to manage growth and expansion, general economic conditions and other risk factors. For a more detailed discussion of these and other risks that may cause actual results to differ from the forward looking statements in this news release, please refer to Optibase’s most recent annual report on Form 20-F. The Company does not undertake any obligation to update forward-looking statements made herein.
This release and prior releases
are available on the Company’s Web site at www.optibase.com.
This release and
prior releases are also available on the KCSA Public Relations Worldwide Web site at
www.kcsa.com.
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