BSD.L Regulatory News (BSD)

11 Jun 2007 14:57

Emblaze Ltd11 June 2007 Emblaze Ltd SAPIENS ANNOUNCES COMPLETION OF $20 MILLION PRIVATE PLACEMENT LED BY GLOBAL INSTITUTIONAL INVESTORS The Round was done at $3 per share representing 12% premium to market price Closing expected by the end of June Ra'anana, Israel, 11 June 2007 - Emblaze Ltd ("Emblaze or "the Group") (LSE:BLZ) announces that Sapiens International Corporation N.V. (NASDAQ and TASE:SPNS) a member of the Emblaze / Formula Group (LSE:BLZ.L) (NASDAQ: FORTY andTASE: FORT), today announced that it has completed a $20 million privateplacement round led by institutional investors and by the Formula Group. Thecommon shares placement was priced at $3 representing 12% premium with nowarrants. After closing (expected at the end of June), Formula will remain thecontrolling shareholder of Sapiens. Mr. Al-Dor, President and CEO of Sapiens International, commented, "Sapiens is adifferent company today. We are back to growth and operational profitability,playing in multi-billion dollar markets and ready to take leadership. Thisinvestment is a strong vote of confidence by our investors, and by the Emblaze /Formula group, in our direction and future prospects. We appreciate theirsupport and we will do our best to continue on the course that we have set forourselves." Guy Bernstein, CEO Emblaze Group commented, "We are actively involved in all ofour companies. We work with Sapiens' management team on a daily basis. We focuson profitability and aggressive, global growth. Sapiens presents a strongopportunity in a large global market. There are many risks going forward, butour mutual cooperation on the future of the company is unique and powerful inits results as evidenced by this round." About Sapiens International Sapiens International Corporation N.V. (Nasdaq and TASE: SPNS), a member ofFormula Group (Nasdaq: FORTY and TASE: FORT), and the Emblaze Ltd (LSE: BLZ.L)group, is a leading global provider of proven IT solutions that modernizebusiness processes and enable insurance organizations to adapt quickly tochange. Sapiens' innovative solutions are widely recognized for their ability tocost-effectively align IT with the business demands for speed, flexibility andefficiency. Sapiens operates through its subsidiaries in North America, theUnited Kingdom, EMEA and Asia Pacific, and has partnerships with market leaderssuch as IBM and EDS. Sapiens' clients include AXA, Liverpool Victoria, NorwichUnion, OneBeacon, Principal Financial Group, Prudential, ING, Menora Mivtachim,and Occidental Fire & Casualty among others. For more information, please visithttp://www.sapiens.com. Except for historical information contained herein, the matters set forth inthis release are forward-looking statements that are dependent on certain risksand uncertainties, including such factors, among others, as market acceptance,market demand, pricing, changing regulatory environment, changing economicconditions, risks in new product and service development, the effect of theCompany's accounting policies, specific system configurations and software needsof individual customers and other risk factors detailed in the Company's SECfilings. About Emblaze Emblaze Ltd., whose shares have been listed on the London Stock Exchange since1996 (Ticker: BLZ), is a group of companies sharing a common mission to providea wide range of information technology products and services worldwide. Thegroup's portfolio includes: Emblaze Mobile, a new breed in handsets design andmanufacturing; ZONE-IP (LSE: ZIP) a provider of IP technologies and owner ofEmblaze VCON, a leading provider of wireless video communications technologiesand conferencing solutions for operators and enterprise markets over IPnetworks; Orca Interactive (LSE: ORCA), provider of Interactive Television IPTVmiddleware for Video On Demand (VOD) and broadcast services, aimed at Telecom,cable and xDSL operators; emoze, a free global Push Email service for mobiledevices that will push send your Emails and PIM data to you anywhere and to anydevice and Visual Defence (LSE: VDI), a provider of wireless and IP videosolutions for military and homeland security markets; Formula Systems Ltd(NASDAQ & TASE:FORTY), a global solutions provider of technology, software andIT solutions for telecommunications companies, operators and a wide range ofsectors. The Formula portfolio includes: Magic Software Enterprises (NASDAQ &TASE: MGIC), Sapiens International Corporation N.V. (NASDAQ & TASE: SPNS),BluePhoenix Solutions (NASDAQ &TASE:BPHX) and Matrix (TASE: MTRX) This information is provided by RNS The company news service from the London Stock Exchange