(Alliance News) - Amiad Water Systems Ltd on Friday said subscription and open offer shares have been admitted to trading on AIM and Ishay Davidi has joined the board.
The supplier of water filters and filtration systems has on Wednesday raised GBP17.6 million through an open offer and had in February secured GBP17.6 million through a share subscription by Israeli private equity firm and significant shareholder FIMI Opportunity Funds.
In accordance with FIMI share purchase deal, Davidi has joined the board of Amiad, with effect from shares admission, and Dori Ivzori, Jenny Derfler and Zehava Simon have resigned as directors of Amiad.
However, Ivzori will continue to serve as the chief executive officer of Amiad, it said.
"We are delighted to have completed this important capital raising and appreciate the strong support shown for it by both FIMI and other shareholders," said Amiad Chair Yariv Avisar.
"We would like to thank Derfler and Simon for their valuable contributions to Amiad over the years and wish both of them the very best in their future endeavours. We also look forward to continuing to work closely with Ivzori in his role as CEO," added Avisar.
AIM-listed Amiad shares were trading 4.2% lower in London on Friday at 230.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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