Perion Network Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K was filed by Perion Network Ltd. on September 15, 2016, for the month of September 2016. The filing serves to disclose a position statement received from Zack and Orli Rinat, who beneficially own 6,484,347 ordinary shares (8.5%) of the company. The statement relates to a shareholder meeting scheduled for September 26, 2016.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a disclosure of corporate governance communications rather than a financial results report.
Material Changes
No material financial changes versus the prior comparable period are reported in this document. The filing focuses on a dispute regarding shareholder meeting positions.
Management Commentary and Risks
The Board of Directors explicitly rejects the assertions made in the position statement submitted by the Rinat family. The Board stands by its own positions as set forth in the Proxy Statement dated August 22, 2016. The filing notes that the shareholders are solely responsible for the content of their statement.
Key Facts for Investor Verification
- Verify the content of the shareholder position statement attached as Exhibit 1.
- Review the Board's response and positions in the Proxy Statement dated August 22, 2016.
- Confirm the date and agenda of the shareholder meeting scheduled for September 26, 2016.
- Note that the Rinat family holds an 8.5% beneficial ownership stake in the company.