WEST PALM BEACH, Fla. and NETANYA, Israel, Sept. 01, 2016 (GLOBE NEWSWIRE) -- magicJack VocalTec Ltd. (Nasdaq:CALL) (“magicJack” or the “Company”), a leading VoIP cloud-based communications and UCaaS company, today confirmed that Kanen Wealth Management LLC (“Kanen”) has delivered notice to the Company of its intention to nominate seven director candidates for election to magicJack’s Board of Directors (the “Board”) at the Company's 2016 Annual Meeting of Shareholders. magicJack’s shareholders are not required to take any action at this time. The Board will review Kanen’s proposed nominees in accordance with magicJack’s corporate governance policies and the Board’s fiduciary duties under Israeli law, as with any nominees for election to the Company’s Board. The Board will postpone the Company’s 2016 Annual Meeting of Shareholders, previously scheduled for October 7, 2016, pending the completion of such review and schedule a new meeting date as promptly as practicable. The Board will present its recommendation with respect to the election of directors in its proxy statement, which will be filed with the Securities and Exchange Commission and mailed to all shareholders eligible to vote at the 2016 Annual Meeting of Shareholders. Vinson & Elkins LLP, Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co. and Akerman LLP are serving as legal counsel to magicJack. About magicJack VocalTec Ltd. magicJack VocalTec Ltd. (Nasdaq:CALL), the inventor of magicJack and a pioneer in Voice over IP (VoIP) technology and services, is a leading cloud communications company. With its easy-to-use, low cost solution for telecommunications, the Company has sold more than 11 million award-winning magicJack devices, which is now in its fifth generation, has millions of downloads of its free calling apps, and holds more than 30 technology patents. magicJack is the largest-reaching CLEC (Competitive Local Exchange Carrier) in the United States in terms of area codes available and number of states in which it is certified. In March 2016, magicJack VocalTec Ltd. acquired Broadsmart, a leading hosted UCaaS (Unified Communication as a Service) provider for medium-to-large multi-location enterprise customers. Broadsmart has a track record of designing, provisioning and delivering complex UCaaS solutions to blue chip corporate customers on a nationwide basis. Broadsmart has expertise in servicing enterprises with hundreds-to-thousands of locations. Important Additional Information The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company’s shareholders in connection with the Company’s 2016 Annual Meeting of Shareholders. The Company intends to file a proxy statement and white proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with any such solicitation of proxies from the Company’s shareholders. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING WHITE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Information regarding the ownership of the Company’s directors and executive officers in Company stock, restricted stock and options is included in our SEC filings on Forms 3, 4, and 5, which can be found through the Company’s website www.magicjack.com in the section “Investors” or through the SEC’s website at www.sec.gov. Information can also be found in the Company’s other SEC filings, including the Company’s definitive proxy statement for the 2015 Annual Meeting of Shareholders and its Annual Report on Form 10-K for the year 2015. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the definitive proxy statement and other materials
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