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31 Dec 2015 07:00
31 December 2015
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ADGORITHMS LTD
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("Adgorithms" or the "Company")
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Director Share Transfer
Adgorithms announces that it received notification on 30 December 2015 that, on that day, Or Shani, Chief Executive Officer of the Company, transferred his entire holding of 29,177,431 ordinary shares of 0.01 NIS each (the "Holding") toĀ the trustee of theĀ Or Shani 2015 Irrevocable Trust (the "Trust"),Ā for nil consideration.Ā
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The beneficiaries of the Trust are Mr.Ā Shani's twoĀ daughtersĀ (both of whom are under 18 years of age) but Mr. Shani has retainedĀ sole voting rights in respect of the Holding, which represents 47.3 per cent.Ā ofĀ the Company's current issued share capital.Ā
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The lock-in arrangements set out in the Company's admission document dated 5 June 2015 will continue to apply to the Holding.Ā
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The Company has been advised that the transferĀ was made forĀ personalĀ taxĀ planningĀ purposesĀ in connection withĀ Mr.Ā Shani'sĀ relocation to the United States.Ā
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For further information, please contact:
Adgorithms | Tel: +972 3537 7137 |
Or Shani, Chief Executive Officer | |
Ron Stern, Chief Financial Officer | |
www.adgorithms.com | |
Liberum (NOMAD and Broker) | Tel: +44 20 3100 2000 |
Neil Patel / Chris Clarke / Tom Fyson | |
Vigo Communications | Tel: +44 20 7016 9570 |
Jeremy Garcia / Ben Simons / Fiona Henson | adgorithms@vigocomms.com |
www.vigocomms.com |
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