BRIEF-Cyren Board Approves Plan To Cease Operations, Commence Insolvency Proceedings

Reuters2023-02-22

Feb 22 (Reuters) - Cyren Ltd :

* CYREN LTD - BOARD APPROVED PLAN TO CEASE OPERATIONS, COMMENCE INSOLVENCY PROCEEDINGS FOR CO & TO LIQUIDATE ITS WHOLLY-OWNED UNITS

* CYREN LTD - INTENDS TO COMMENCE A VOLUNTARY BANKRUPTCY PROCEEDING IN ISRAEL BY FILING AN INSOLVENCY APPLICATION WITH TEL AVIV DISTRICT COURT

* CYREN LTD - COMPANY EXPECTS TO CEASE REPORTING AS A PUBLIC REPORTING COMPANY

* CYREN LTD - COMPANY ALSO APPROVED ITS U.S. SUBSIDIARY, CYREN, INC. COMMENCING A GENERAL ASSIGNMENT FOR THE BENEFIT OF CREDITORS

* CYREN LTD - COMPANY ALSO APPROVED COMMENCEMENT OF LIQUIDATION PROCEEDINGS BY UNITS IN UK, GERMANY AND ICELAND

* CYREN LTD - EACH OF CO'S DIRECTORS WILL CEASE TO BE DIRECTORS OF CO EFFECTIVE AS OF DATE OF APPOINTMENT BY ISRAELI COURT OF A LIQUIDATING TRUSTEE

* CYREN LTD - ON FEB 20, BOARD TERMINATED BRETT JACKSON, CEO, JEFFREY DAUER, CFO & BRIAN DUNN, GENERAL COUNSEL WITHOUT CAUSE

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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