Ocean Harvest T Regulatory News (OHT)

17 Dec 2007 07:45

Orad Hi-Tec Systems17 December 2007 Orad Hi-TecSystems Ltd ("Orad" or the "Company") Holdings in Company Orad Hi-Tec Systems Ltd (Symbol: OHT) announces today a transaction in theCompany's shares. ISMM AG ("ISMM"), informed the Company today of a share sale agreement enteredinto during mid November under which ISMM sold all of its shareholding in Oradin an off-market transaction as part of the liquidation of its assets. ISMM has sold 2,439,388 ordinary shares of NIS 0.01 ("Ordinary Shares") at aprice of Euro1.85 per share to the Edmond de Rothschild Israel Opportunity FundLP ("Rothschild") and to the New York based Cohanzick Management fund ("Cohanzick"). Rothschild bought 1,459,459 Ordinary Shares representing approximately 13.49% ofthe Ordinary Share capital of the Company (being 12.7% on a fully dilutedbasis). Cohanzick, through three different managed funds, bought 979,929Ordinary Shares representing approximately 9.06% of the Ordinary Share capital(and 8.52% on a fully diluted basis). The Company welcomes the new investors and the contribution that they can maketo the long-term growth of the company. For further information please contact:ORAD Hi-Tec Systems Ltd (www.orad.tv) +972 9 7676 862Ehud Ben-Yair, CFO Shore Capital - Nominated Adviser to OradGraham Shore, London, UK +44 20 7408 4090 Edicto - Investor Relations +49 608494859-1Dr. Sonke Knop, Frankfurt Germany This information is provided by RNS The company news service from the London Stock Exchange