UNITED STATES : Attunity Announces Agreements To Convert Outstanding Debt into Ordinary Shares [TendersInfo (India)]

(TendersInfo (India) Via Acquire Media NewsEdge) Increased Shareholders' Equity Will Satisfy the Associated Listing Requirement for a New Listing on a National Exchange.

Attunity Ltd., a leading provider of real-time data integration software, announced today that Messrs. Shimon Alon (Chairman and CEO of Attunity) and Ron Zuckerman (member of Attunity's Board of Directors), the holders of approximately $740,000, an aggregate principal amount of the Company's outstanding convertible promissory notes due 2012 (the "Notes"), have agreed to immediately convert their Notes into ordinary shares of Attunity. The Notes being converted represent approximately 47% of the Notes outstanding.

The Company also announced that it is considering the relisting of its ordinary shares on the NASDAQ or the NYSE Amex, pending market conditions and satisfaction of the applicable listing criteria.

Dror Harel-Elkayam, CFO of Attunity, commented: "We are excited that our principal debt holders have agreed to convert debt into shares of Attunity, as it will strengthen the Company's balance sheet and increase total shareholders equity. This conversion is also an important vote of confidence in Attunity's future as we continue to rapidly expand our business with new solutions for the cloud and enterprise environment and new customer agreements. Furthermore, by reducing our debt, Attunity will be able to invest more resources towards the sales and marketing of these new solutions." Messrs. Alon and Zuckerman as well as the other holders of the Notes, in a total principal amount of approximately $1.6 million, were offered incentives to convert all or part of their Notes into ordinary shares. The offer made by the Company expires on January 31, 2012. Additional details regarding the conversion by Messrs. Alon and Zuckerman and the conversion offer are included in the Report on Form 6-K that the Company will furnish to the Securities and Exchange Commission (SEC) today.

(c) 2012 Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company

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