Attached files
| file | filename |
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| 8-K - CURRENT REPORT - Paybox Corp. | pbox_8k.htm |
Exhibit
99.1
Corporate
Contact:
Matthew
E. Oakes
Paybox
Corp
954-510-3750
investorrelations@gopaybox.com
FOR IMMEDIATE RELEASE
PAYBOX ANNOUNCES RECORD DATE AND MEETING DATE FOR SPECIAL
MEETING
FORT LAUDERDALE, FL – April 11, 2017 – Paybox
Corp (OTCQB:PBOX), provider of the PAYBOX® unified working
capital management platform, today announced that it has
established a record date of April 11, 2017 for its special meeting
of stockholders (the “Special Meeting”) to be held to
consider and vote upon a proposal to approve a reverse stock split.
The Special Meeting will be held at the offices of Marcum LLP, 450
East Las Olas Boulevard, Ninth Floor, Fort Lauderdale FL 33301, on
Wednesday, May 3, 2017, at 10:00 A.M. EST. The proposed reverse stock split is in the ratio
of 1:200, and stockholders holding less than 200 shares would be
cashed out at a price of $0.40 per share.
Additional Information about the Proposal and Where to Find
It
In connection with the Proposal, the Company has filed with the
Securities Exchange Commission (“SEC”), and will mail
to stockholders of record of the Company as of April 11, 2017, a
definitive proxy statement in connection with its solicitation of
proxies for the Special Meeting. This press release does not
contain all the information that should be considered concerning
the reverse stock split proposal. It is not intended to provide the
basis for any investment decision or any other decision in respect
to the proposal. The Company’s stockholders and other
interested persons are advised to read the definitive proxy
statement, and the Company’s Schedule 13E-3 and related
exhibits filed with the SEC in connection with the Company’s
solicitation of proxies for the Special Meeting, as these materials
contain important information about the Company and the Proposal.
Stockholders can also obtain copies of the definitive proxy
statement and other documents filed with the SEC, without charge,
at the SEC’s web site at www.sec.gov, or by directing a
request to: Matthew Oakes, Chief Executive Officer, Paybox Corp,
500 East Broward Boulevard, Suite 1550, Ft. Lauderdale, FL
33394.
Participants in Solicitation
The Company and its directors and executive officers may be deemed
to be participants in the solicitation of proxies from the
stockholders of the Company in connection with the Proposal.
Information regarding the special interests of these directors and
executive officers in the Proposal is included in the definitive
proxy statement. Additional information regarding the directors and
executive officers of the Company is also included in the
Company’s Annual Report on Form 10-K for the year ended
December 31, 2016, which is available free of charge at the SEC web
site at www.sec.gov and at the address described
above.
About PAYBOX Corp
PAYBOX®
provides a powerful platform for unified working capital management
that facilitates over $160 billion worth of transactions annually
between more than 375,000 companies worldwide. PAYBOX Corp’s
clients include IBM, Siemens, HP Enterprises, Saint Gobain,
Carlson, and one of the world’s largest financial
institutions. The flagship component of PAYBOX’s unified
working capital management platform is PAYBOX® Cloud, which
offers robust and secure Accounts Payable and Receivables solutions
that seamlessly integrate with a company’s ERP system. Paper,
manual processes and customer/client invoice inaccuracies and
associated resolution costs are eliminated, while improving working
capital and customer satisfaction. Learn more at
www.gopaybox.com.