Orad Hi-Tec Systems
17 December 2007
Orad Hi-TecSystems Ltd
('Orad' or the 'Company')
Holdings in Company
Orad Hi-Tec Systems Ltd (Symbol: OHT) announces today a transaction in the
Company's shares.
ISMM AG ('ISMM'), informed the Company today of a share sale agreement entered
into during mid November under which ISMM sold all of its shareholding in Orad
in an off-market transaction as part of the liquidation of its assets.
ISMM has sold 2,439,388 ordinary shares of NIS 0.01 ('Ordinary Shares') at a
price of Euro1.85 per share to the Edmond de Rothschild Israel Opportunity Fund
LP ('Rothschild') and to the New York based Cohanzick Management fund
('Cohanzick').
Rothschild bought 1,459,459 Ordinary Shares representing approximately 13.49% of
the Ordinary Share capital of the Company (being 12.7% on a fully diluted
basis). Cohanzick, through three different managed funds, bought 979,929
Ordinary Shares representing approximately 9.06% of the Ordinary Share capital
(and 8.52% on a fully diluted basis).
The Company welcomes the new investors and the contribution that they can make
to the long-term growth of the company.
For further information please contact:
ORAD Hi-Tec Systems Ltd (www.orad.tv) +972 9 7676 862
Ehud Ben-Yair, CFO
Shore Capital - Nominated Adviser to Orad
Graham Shore, London, UK +44 20 7408 4090
Edicto - Investor Relations +49 608494859-1
Dr. Sonke Knop, Frankfurt Germany
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.