BOSTON, May 17 /PRNewswire/ -- Rokonet Industries, U.S.A., Inc., a
wholly- owned subsidiary of RISCO Ltd. (RISCO), announced today that it is
withdrawing its cash tender offer for all of the outstanding common stock
of International Electronics, Inc. (OTC Bulletin Board: IEIB) for $4 per
share announced March 6, 2007, its control share acquisition statement and
related request for a special meeting of International Electronics, Inc.
stockholders scheduled for May 18.
"We are pleased that RISCO's offer forced IEI to finally deliver value
to stockholders," said RISCO Chairman, Moshe Alkelai. "In light of IEI's
announced transaction with Linear at $6.65 per share, more than 300% above
the IEI trading price when RISCO began this process just over six months
ago, we have decided to withdraw our tender offer. We wish the IEI
stockholders well with their extraordinary return."
MacKenzie Partners, Inc. is the Information Agent for RISCO's tender
offer and any questions or requests for the Offer to Purchase and related
materials with respect to the tender offer may be directed to MacKenzie
Partners, Inc.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in respect
of the solicitation of proxies of Rokonet Industries, U.S.A., Inc. from
stockholders of IEI in connection with the special meeting of IEI
stockholders to be held on May 18, 2007. Rokonet Industries, U.S.A., Inc.
will file a definitive proxy statement on Schedule 14A. IEI STOCKHOLDERS
SHOULD READ THOSE MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT
INFORMATION REGARDING RISCO'S PROPOSAL. Stockholders will be able to obtain
the proxy statement and related materials with respect to the special
meeting free at the SEC's website at http://www.sec.gov or from Rokonet
Industries, U.S.A., Inc. by contacting Mackenzie Partners, Inc. toll free
at 1-800-322-2885 or collect at 1-212-929- 5500 or via email at
proxy@mackenziepartners.com.
The offer to buy IEI common stock is only being made pursuant to an
offer to purchase and related materials that Rokonet Industries, U.S.A.,
Inc. has filed with the SEC. IEI STOCKHOLDERS SHOULD READ THESE MATERIALS
CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS
AND CONDITIONS OF THE OFFER. Stockholders will be able to obtain the offer
to purchase and related materials with respect to the tender offer at the
SEC's website at http://www.sec.gov or from Rokonet Industries, U.S.A., Inc. by
contact Mackenzie Partners, Inc. toll free at 1-800-322-2885 or collect at
1-212-929-5500 or via email at proxy@mackenziepartners.com.
Participants in Solicitation
Rokonet Industries, U.S.A., Inc. and its directors and executive
officers may be deemed to be participants in the solicitation of proxies
from the holders of IEI common stock in respect of the proposed special
meeting of stockholders. Certain information about such persons and their
interest in the solicitation will be contained in the proxy statement
regarding the special meeting, when it becomes available.
SOURCE RISCO
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Related links:
http://www.sec.gov/
CONTACT:
Bob Marese, +1-212-929-5045, or Lex Flesher,
+1-212-929-5397, both of MacKenzie Partners, Inc.
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