21 Dec 2016 12:19
21 December 2016
Amiad Water Systems Ltd.
("Amiad" or the "Company")
Transfer in Significant Shareholding
Amiad (AIM: AFS), a leading global producer of water treatment and filtration solutions, announces that it has been notified that Kibbutz Amiad Agricultural Cooperative Society Ltd. (the "Kibbutz") has transferred to HaChoshlim Foundation - Agriculture Cooperative Society for Business Ltd. ("H.F.") the entire issued share capital of A.M.SI. Investments (1997) Ltd. ("A.M.SI."), the holding company through which the Kibbutz held 10,298,187 shares of Amiad Water Systems Ltd., representing 45.4% of the issued share capital of the Company (the "Transfer"). The Kibbutz has gone through a reorganisation and formed H.F. specifically for the purposes to hold and invest the vast majority of the equity assets of the Kibbutz. The Kibbutz's direct holding of 135,200 shares remains unchanged.
In addition, H.F. has been added as party to the following agreements - with no other material changes to the respective agreements:
· The Company, after approval from Board members independent from the Transfer, has signed an amended agreement, pertaining to its relationship with the Kibbutz (the "Relationship Agreement"), with H.F. to incorporate H.F. into the Relationship Agreement, which has been in place since the Company's IPO. H.F. Directors, Mr Oded Rosen and Mr Avraham Azani, continue to serve the interest of the Kibbutz on the Board of Amiad.
· H.F. has become a party to the shareholders agreement with Kibbutz Beit Zera and Bermad Industries Cooperative Agricultural Society Ltd. as described in the Company's announcement of 29 April 2010.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail. No change in beneficial ownership is taking place, but the holding of the following Directors of the Company is being transferred as part of the Transfer.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Mr Oded Rosen | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Non-executive director | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Amiad Water Systems Ltd. | ||||
b)
| LEI
| N/a | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 0.5 NIS each in Amiad Water Systems Ltd.
IL0010943905 | ||||
b)
| Nature of the transaction
| Transfer of indirect interest, via Kibbutz Amiad, from A.M.SI to H.F. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
10,298,187
-
| ||||
e)
| Date of the transaction
| 21 December 2016 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Mr Avraham Azani | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Non-executive director | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Amiad Water Systems Ltd. | ||||
b)
| LEI
| N/a | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 0.5 NIS each in Amiad Water Systems Ltd.
IL0010943905 | ||||
b)
| Nature of the transaction
| Transfer of indirect interest, via Kibbutz Amiad, from A.M.SI to H.F. Direct holding remains unchanged | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
10,298,187
-
| ||||
e)
| Date of the transaction
| 21 December 2016 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
Enquiries
Amiad Water Systems Ltd. | |
Dori Ivzori, Chief Executive Officer Irit Ben-Dov, Chief Financial Officer | +972 4 690 9500 |
Stifel Nicolaus Europe Ltd. | |
Stewart Wallace, Ben Maddison | +44 20 7710 7600 |
Luther Pendragon Ltd. | |
Harry Chathli, Claire Norbury | +44 20 7618 9100 |
About Amiad
Amiad Water Systems (AIM: AFS) is a leading global producer of automatic, self-cleaning water treatment and filtration products and systems. Through its engineering skills and ability to innovate, Amiad provides cost-effective "green" solutions for the industrial, municipal, irrigation, oil & gas and ballast water markets. In these segments, its patented products are being integrated into the core of systems for filtration and water treatment, micro irrigation and membrane protection, wastewater and potable water treatment, cooling systems and seawater filtration.
Headquartered in Israel, Amiad provides these solutions through nine subsidiaries and a comprehensive network of over 170 distributors to customers in more than 80 countries.
For additional information or product details, please visit www.amiad.com.