ROSH HA'AYIN, Israel, Oct. 13, 2009 (GLOBE NEWSWIRE) -- TTI Team Telecom International Ltd. (Nasdaq:TTIL) ("TTI Telecom"), a global supplier of Operations Support Systems (OSS) to communications service providers, today announced that its Special General Meeting of Shareholders will be held on Tuesday, November 17, 2009 at 5:00 p.m. Israel time, at the offices of the Company, 12 Amal Street, Afek Park, Rosh Ha'ayin, Israel. The record date for the meeting is October 14, 2009. TTI Telecom will send its shareholders of record a proxy statement describing the various matters to be voted upon at the meeting, along with a proxy card enabling them to indicate their vote on each matter. TTI Telecom will also file the proxy statement with the Securities and Exchange Commission (SEC) in the next few days.
The agenda of the meeting is as follows:
(1) To reelect Julie Kunstler as an outside director for an
additional three year term;
(2) To approve a decrease in the compensation paid to the
Company's outside directors; and
(3) To transact such other business as may properly come
before the Meeting or any adjournment thereof.
Items 1 and 2 require the approval of a simple majority of the shares voted on the matter.
In addition, TTI would like to announce that TTI's acting CFO, Mrs. Tali Tueg-Cohen has been appointed TTI's CFO.
About TTI Telecom:
TTI Team Telecom International Ltd. ("TTI Telecom") is a leading provider of next generation Operations Support Systems (OSS) to communications service providers worldwide. The company's Netrac portfolio delivers an automated, proactive and customer-centric approach to service assurance and network management.
Anchored by market-leading service assurance solutions -- Fault Management (FaM) and Performance Management (PMM) -- that give customers an end-to-end view of their network, TTI Telecom's Netrac enables service providers to reduce operating costs, enhance profitability and launch new, revenue-generating services more rapidly. Netrac is compatible with multiple technologies and industry standards, and is uniquely positioned to bridge legacy, next-generation, convergent, and IMS Networks. TTI Telecom's customer base consists of tier-one and tier-two service providers globally, including large incumbents in the Americas, Europe and Asia-Pacific.
Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies as well as certain other risk factors which are detailed in the Company's SEC filings.