AFS.L Regulatory News (AFS)

23 Apr 2007 08:18

Amiad Filtration Systems Ltd23 April 2007 23 April 2007For Immediate Release Amiad Filtration Systems Ltd. ("Amiad" or the "Company") Waivers and Grant of Options On 19 April 2007, following a request made by the Company, three of itsdirectors, Yosef Katz, Abraham Heifetz and Itamar Eder, and the V.P. Sales &Marketing, Arik Dayan, gave written notice to the Company of their waiver, withimmediate effect, of their respective rights to options granted to them by theCompany under the Amiad 2005 Share Option Plan (the "Plan") over the followingnumber of ordinary shares, none of which had not vested at that date: • Yosef Katz - 13,124 shares • Abraham Heifetz - 8.751 shares • Itamar Eder - 4,375 shares • Arik Dayan - 4,375 shares The Company had requested the waiver of these options in order that theaggregate number of shares under options granted to employees/directors of theCompany (taking into consideration also the waiver of options by Kibbutz Amiadand the grant of new options to Mr. Rokah, as provided below) does not exceed 3%of the total issued share capital of the Company on a fully diluted basis. Noneof the optionholders received any consideration from the Company for agreeing towaive his options over the above shares. The dates of vesting of those shares remaining under option have not beenaltered.Following the above waiver of options over shares, the directors are interested,either directly or indirectly, in the following number of shares in the Company: Number of Ordinary Number of Ordinary Shares % of Issued Share Shares under Option CapitalYosef 0 218,886 1.125Katz AbrahamHeifetz 11,000 145,923 0.807 Itamar 0 72,961 0.375Eder At the same board meeting, the Company received written notice from KibbutzAmiad Agricultural Cooperative Association ("Kibbutz Amiad") of its waiver, withimmediate effect, of its right to options granted to it by the Company over77,336 ordinary shares. The options had not vested at the date of the notice. As a result of the above waiver of options by Kibbutz Amiad, each of KibbutzAmiad and A.M.SI Investments (1997) Ltd., a company fully controlled by KibbutzAmiad, ("AMS") are interested, either directly or indirectly, in the followingnumber of shares in the Company: Number of Ordinary Number of Ordinary Shares % of Issued Share Shares under Option CapitalKibbutz 10,200 0 0.052Amiad AMS 10,152,371 0 52.18 At the same meeting, the board of directors resolved (conditional upon obtainingshareholder approval at the Company's Annual General Meeting to be held laterthis year) to grant options over 72,961 ordinary shares under the Plan to Mr Joseph Rokah, a director of the Company, at an exercise price of US$1.532 perOrdinary Share (being the same price as the exercise price for the optionspreviously granted to Kibbutz Amiad and all other option holders), such sharesto vest as follows: Vesting Date Number of Ordinary Shares 11 August 2007 36,480 11 August 2008 18,240 11 August 2009 18,241 On 19 April 2007, the Company was notified by Mr Rokah that, following the aboveconditional grant of options over shares, he is interested, either directly orindirectly, in the following number of shares in the Company: Number of Ordinary Number of Ordinary Shares % of Issued ShareShares under Option Capital5,000 72,961 0.401 Enquiries Amiad Filtration Systems Ltd. +972 4 690 9500Yossi Katz, Chief Executive OfficerItamar Eder, Chief Financial Officer Corfin Communications +44 20 7929 8989Harry Chathli, Neil Thapar This information is provided by RNS The company news service from the London Stock Exchange