19 Nov 2010 07:28
Emblaze Ltd. ("Emblaze" or "the Group")
Interim Management Statement
Ra'anana, Israel, 19 November 2010 - Emblaze sets out below its Interim Management Statement for the period from 1st July 2010 to date.
On 03 September 2010 Emblaze announced that it has entered into a conditional agreement to sell its entire 49.2% holding in Formula Systems (1985) Ltd. to Asseco Poland SA for a total consideration of US$139,138,400, payable in cash on closing of the transaction.
The sale is of sufficient size relative to that of the Group to constitute a Class 1 transaction under the Listing Rules and is, therefore, conditional upon, inter alia, the approval of shareholders. Accordingly, on 20 October 2010 the Company posted a circular to shareholders convening an annual general meeting to approve, amongst other things, the proposed sale. The circular contains updated information about the Group business and a trading update.
Since 20 October 2010 there have been no material events, transactions or change in the financial position of Emblaze.
A copy of the circular has been submitted to the Financial Services Authorityand is available at the National Storage Mechanism, which is located at www.hemscott.com/nsm.do. The circular is also available on the Company'swebsite, www.emblaze.com. Enquiries: Jonathan Shillington, Alistair Scott +44 (0) 20 7932 1850 Grayling jonathan.shillington@grayling.com
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