15 Jan 2009 12:08
Amiad Filtration Systems Ltd
15 January 2009
Amiad Filtration Systems Ltd.
("Amiad" or the "Company")
Notification of Interest
Pursuant to Rule 17 of the AIM Rules for Companies, the Company announces that it was notified yesterday of the following by Viola Private Equity I L.P. ("Viola"):
1. On 14 January 2009, Atorka Group hf. ("Atorka") sold to Viola P.E. Ventures Management (2008) Ltd., a private company whose interests are wholly-owned by Viola, 4,429,442 ordinary shares of NIS0.5 each in the Company ("Ordinary Shares"), representing 23.13% of the issued share capital of the Company, at a price per share of 140.238p. As a result of this sale, the total number of shares in the Company beneficially held by Atorka has been reduced to 308,000 Ordinary Shares, representing 1.61% of the issued share capital of the Company.
2. Viola has also been granted an irrevocable option to acquire the remaining 308,000 Ordinary Shares held by Atorka with the understanding that such shares will be made available for sale and transfer by Atorka as soon as possible.
Viola is an affiliate of the Viola Group, a private equity investment group with over $1.8 billion under management, focused on technology-based investment opportunities in technology.
In addition, Kibbutz Amiad Agricultural Cooperative Association, which holds Ordinary Shares representing approximately 53% of the issued shares capital of the Company, notified the Company yesterday that it intends to recommend to the board of directors of Amiad that Mr. Harel Beit-On and Ms. Osnat Ronen, each of whom is a partner of Viola, be nominated as directors of the Company at its next general meeting.
Rami Treger, the CEO of Amiad, and Tal Yeshua, the Chairman of Amiad's board of directors, commented:
"We are delighted to welcome Viola as a major new shareholder in Amiad."
Enquiries:
Amiad Filtration Systems Ltd.
Rami Treger, Chief Executive Officer +972 4 690 9500
Panmure Gordon +44 20 7459 3600
Katherine Roe
Corfin Communications +44 207 977 0020
Harry Chathli, Victoria Ward