27 Feb 2008 12:40
Adamind Ltd27 February 2008 27 February 2008 Adamind Ltd ("Adamind" or "the Company") Company Update Further to the announcement of 29 January 2008, the Company provides an updateon the timing of the distribution of funds to shareholders. Since the filing of the motion for the cash distribution on 27 January 2008, theCompany has been approached by certain parties with respect to a variety ofpossible alternative transactions. The Board has considered these alternativesand concluded that the distribution of approximately US$19 million remains inthe best interests of the Company's shareholders and is continuing to pursuethis strategy. The Company expects to inform shareholders of the results of the application tothe Israeli Courts for the first cash distribution on 3 March 2008 and continuesto expect the distribution to be made as planned in the first quarter of 2008 orshortly thereafter. Enquiries Corfin Communications Harry Chathli, Neil Thapar +44 20 7977 0020 This information is provided by RNS The company news service from the London Stock Exchange