Vislink Announces Distribution of Series A Preferred Shares to Holders of Its Common Shares

Mount Olive, New Jersey., November 09, 2022 (GLOBE NEWSWIRE) — Vislink Technologies, Inc.(NASDAQ:VISL) (“Vislink” or the “Company”), a global technology leader in the capture, delivery and management of high-quality live video and associated data in the media and entertainment, Law Enforcement and Defense, today announced that from November 9, 2022its Board of Directors has declared a dividend of one thousandth of a newly designated Series A Preferred Share, par value $0.00001 per share, for each outstanding share of the ordinary shares of the Company entered in the register at 5:00 p.m. Eastern Time on November 21, 2022. The Series A Preferred Shares are expected to be distributed to such beneficiaries at 5:00 p.m. Eastern Time on November 22, 2022. The outstanding Series A Preferred Shares will vote with the outstanding common shares of the Company, as a single class, exclusively with respect to a stock consolidation, and will not be entitled to vote on any other matter. , except to the extent required under the general corporate law of Delaware. Subject to certain limitations, each outstanding Series A Preferred Share will have 1,000,000 votes per share (or 1,000 votes per thousandth of a Series A Preferred Share).

All Series A Preferred Shares which are not present in person or by proxy at the meeting of shareholders called to vote on the Share Consolidation immediately before the opening of the votes at such meeting will be automatically redeemed by the Company. All outstanding Series A Preferred Shares which have not been so redeemed will be redeemed if such redemption is ordered by the board of directors of the Company or automatically upon approval by the shareholders of the Company of a amendment to the certificate of incorporation of the Company effecting the repurchase of divided shares at such meeting.

The Series A Preferred Shares will not be certified and no Series A Preferred Shares will be transferable by any holder thereof except in connection with a transfer by such holder of common shares of the Company held by such holder. . In such event, a one-thousandth number of Series A Preferred Shares equal to the number of common shares of the Company to be transferred by such holder would be transferred to the transferee of such common shares.

Additional details regarding the Series A Preferred Shares will be contained in a report on Form 8-K to be filed by the Company with the Security and Exchange Commission (“SECOND”).

Further details regarding a special meeting of shareholders of the Company to consider a stock consolidation should be contained in a definitive proxy statement at Schedule 14A which will be filed by the Company with the SECOND. This special meeting will be separate and distinct from the company’s previously announced 2022 annual meeting of shareholders, which is scheduled to be held on December 27, 2022. The special meeting will only relate to a proposal to possibly carry out a consolidation of shares. Series A Preferred Shares will not be eligible to participate in the 2022 Annual Meeting.

This communication does not constitute a solicitation of a vote or approval of any matter. Investors will be able to obtain a free copy of the definitive proxy statement for the 2022 separate annual and special meetings, when available, and other relevant documents filed by Vislink with the SECOND on the SEC’s website at www.sec.gov. In addition, investors may obtain a free copy of the applicable proxy statement, when available, and other relevant documents on Vislink’s website at www.vislink.com or by sending a ask Vislink Technologies, Inc.Attention: Secretary General, 350 Clark Drive, Mount Olive, New Jersey 07828, or by calling (908) 852-3700.

About Vislink TechnologiesInc. Vislink is a global technology company specializing in the collection, delivery and management of high-quality live video and associated data, from the action scene to the viewing screen. For broadcast markets, Vislink provides solutions for collecting live news, sports and entertainment events. Vislink also provides the surveillance and defense markets with real-time video intelligence solutions using a variety of bespoke transmission products. Through its Mobile Viewpoint product lines, Vislink also provides live streaming solutions using bonded cellular, 5G and AI-based technologies for automated news and sports productions.

The Vislink The team also provides professional and technical services using a team of technology experts with decades of applied knowledge and real-world experience in terrestrial microwave, satellite, fiber optic, surveillance and wireless communications, to provide a wide range of customer solutions. . Vislink’s common stock is publicly traded on the Nasdaq Capital Market under the symbol “VISL”. For more information, visit www.vislink.com.

Forward-looking statements:

Certain statements contained in this press release are forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor under the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical facts included in this press release, including those regarding a possible consolidation of the common stock , the Company’s strategy, future operations, future financial condition, future revenues, including from booking activity, risks of supply chain constraints and inflationary pressures, projected expenditures, outlook, plans, including consolidation of footprint and technology assets , management objectives, new capabilities, product and solution launches including AI-enabled and 5G streaming technologies, expect contract values, projected pipeline sales opportunities, integration of acquisitions and expected market opportunities in the Company’s operating segments, including the live event production market, the effects of the COVID-19 pandemic, the sufficiency of the Company’s capital resources to fund company operations and all statements regarding future results are forward-looking statements. Vislink may not actually achieve the plans, achieve the intentions or meet the expectations or projections disclosed in forward-looking statements such as the foregoing and you should not place undue reliance on such forward-looking statements. These statements are based on management’s current expectations and involve risks and uncertainties, including those discussed in Vislink’s Annual Report on Form 10-K for the fiscal year ended. December 31, 2021filed with the SECOND on April 15, 2021as amended on May 2, 2022 and September 21, 2022and in documents subsequently filed with the SECOND.

Statements made in this press release speak only as of the date stated herein, and subsequent events and developments may cause the Company’s expectations and beliefs to change. Although the Company may elect to update these forward-looking statements publicly at some time in the future, the Company specifically disclaims any obligation to do so, whether as a result of new information, future events or otherwise, except if required by law. These forward-looking statements should not be taken to represent the views of the Company as of any date after the date set forth herein.

contacts

Media Relations:Charlotte van Hertum[email protected]

Investor Relations:
[email protected]

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Source: Vislink Technologies, Inc.

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