BOSTON, November 29, 2010 /PRNewswire-FirstCall/ -- Allot
Communications Ltd. (NASDAQ: ALLT), a leading supplier of service
optimization and revenue generation solutions for fixed and mobile
broadband service providers worldwide, announced today that the
Tel-Aviv Stock Exchange ("TASE") has approved the dual listing of
the Company's ordinary shares on the TASE beginning at market open
on December 21, 2010, under the
ticker symbol ALLT. The Company's ordinary shares will continue to
be listed on the NASDAQ Global Select Market in the United States, and Allot will remain
subject to the rules and regulations of NASDAQ and of the U.S.
Securities and Exchange Commission.
Allot will host a welcoming ceremony on December 20, 2010 at 09:30
AM Israel time at the Tel-Aviv Stock Exchange Visitor Center
at 54 Ahad Ha'am Street, Tel Aviv.
Rami Hadar, President and CEO of
Allot, and Nachum Falek, CFO, will
speak and will be available for questions.
"We are very pleased to welcome Allot to the Tel-Aviv Stock
Exchange, where the company joins an increasing number of
dual-listed high-tech companies," said Ester Levanon, CEO of the Tel-Aviv Stock
Exchange. "The TASE is the home of Israel's innovative and growing companies.
Allot joins some 140 high-tech listed companies which reflects the
strong position of the Tel-Aviv Stock Exchange in the Hi-Tech and
biotech industries. We are confident that the dual listing will
enable Allot to increase its exposure to Israeli investors, enjoy
expanded trading hours and facilitate quick and easy investor
access to the Company's shares."
"We are pleased to join the TASE with this new dual listing,"
said Rami Hadar. "While we have been
considering this step for a long time, recently we have seen a
significant increase in interest in Allot among Israel's large and sophisticated institutional
investors. We believe that this step will continue to expand our
exposure to the Israeli investment community, as well as provide
trading access for European investors during regular European
business hours."
Allot, with a market capitalization of approximately
$180 million, is expected to become
part of the Tel-Tech 15 index and the Mid-Cap 50 index using the
TASE's fast track system. This enables dual-listed companies to
enter the leading stock exchange indices shortly after they have
been dual-listed.
Trading on the TASE occurs Sunday through Thursday from
9:45 AM to 4:30 PM Israel time,
except on TASE trading holidays. Through the Dual Listing Law that
took effect in October 2000,
U.S.-listed companies may dual-list on the TASE without any
additional regulatory requirements. TASE links to the U.S. markets
with a direct link to DTC, a subsidiary of the Depository Trust
& Clearing Corporation, which facilitates the trading of
dually-listed securities.
About Allot Communications
Allot Communications Ltd. (NASDAQ: ALLT) is a leading provider
of intelligent IP service optimization solutions for fixed and
mobile broadband operators and large enterprises. Allot's rich
portfolio of solutions leverages dynamic actionable recognition
technology (DART) to transform broadband pipes into smart networks
that can rapidly and efficiently deploy value added Internet
services. Allot's scalable, carrier-grade solutions provide the
visibility, topology awareness, security, application control and
subscriber management that are vital to managing Internet service
delivery, enhancing user experience, containing operating costs,
and maximizing revenue in broadband networks. For more information,
please visit http://www.allot.com.
Investor Relations Contact:
Jay Kalish
Executive Director Investor Relations
International access code +972-54-221-1365
jkalish@allot.com
SOURCE Allot Communications Ltd.