RoboGroup T.E.K. Ltd. Announces Distribution
Rosh Haayin, Israel, July 26, 2022 (GLOBE NEWSWIRE) — RoboGroup T.E.K Ltd. (ROBO (TLV);(ROBOF)) today announced a distribution of $0.0144625 per share of common stock, payable on July 28, 2022, to U.S. shareholders of record at the close of business on February 22, 2022.
The distribution was previously announced on February 15, 2022, on Form CB via EDGAR.
RoboGroup T.E.K. Ltd., headquartered in Israel, Rosh Haayin, is engaged in developing, manufacturing and marketing technology training and education products. It offers its products under two business units – industrial training and STEM education.
The Company was incorporated in 1982 as a private company (current name is used since 2000). The Company’s shares are listed for trading on the Tel Aviv Stock Exchange since 1991 (TASE: ROBO).
RoboGroup’s vision is to disrupt the STEM (science, technology, engineering, and math) education technology market with its proprietary online virtual platform that enables students to learn coding, mathematics, and physics using virtual robots. The robots operate according to real-world physics and are controlled using unique coding techniques designed for young students.
The platform represents an accessible alternative for teachers and students lacking access to physical robots due to high costs, major logistical barriers blocking scalability, and high teacher proficiency requirements regarding robotics and coding. The platform also offers flexibility for simulating advanced technology and advanced environments for students who are already engaged in STEM work. Its second business unit offers Industry 4.0 training with a range of physical and remote-learning products and services.
This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.
This press release may contain forward-looking statements. Statements that are not historical facts are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release, and RoboGroup undertakes no duty to update such information, except as required under applicable law.
Gil Segal, CPA (Isr.)
Chief Financial Office
ROBOGROUP T.E.K LTD.
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