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1 May 2009 16:32
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SimiGonΒ LtdΒ ("SimiGon" or the "Company")
DirectorΒ andΒ EmployeeΒ Shareholding
SimiGonΒ announces that, as part ofΒ theΒ ongoingΒ initiatives to decrease its expenses where possible, the Board is planning to implement aΒ oneΒ year salary reduction of 15Β per cent.Β for senior management and other employees. The individuals will instead be issuedΒ ordinaryΒ sharesΒ ofΒ 0.01Β NISΒ in the Company ("OrdinaryΒ Shares") with an equivalent value, which willΒ be issued to the Company's trustee and willΒ vest in 12 equal monthly instalments.
Pursuant to this initiative,Β Ami VizerΒ and Haim Yatim,Β DirectorsΒ of the Company,Β wereΒ issued342,717Β andΒ 123,217Β Ordinary SharesΒ respectively,Β in return for the one year salary reduction. Following this transaction,Β Mr VizerΒ has a beneficial interestΒ inΒ 3,437,291Β OrdinaryΒ Shares, representingΒ 8.30Β per cent.Β of the total issued share capital of the Company,Β and Haim YatimΒ has a beneficial interest inΒ 193,217Β OrdinaryΒ Shares, representingΒ 0.47Β per cent of the total issued share capital of the Company.
A further 1,757,675 Ordinary Shares will be issued toΒ otherΒ employees of the CompanyΒ under these arrangements.Β
Accordingly, applicationΒ will beΒ made forΒ a totalΒ ofΒ 2,223,609Β Ordinary SharesΒ to be admitted to trading on the AIM market of the London Stock Exchange.Β The newΒ OrdinaryΒ Shares rank pari passu with the Company's existingΒ OrdinaryΒ Shares and admission is expected to become effective onΒ 8Β May 2009.
1 May 2009
Enquiries:
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SimiGon Ltd |
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Ami Vizer, Chief Executive Officer Haim Yatim, Chief Financial Officer |
+972 9 956 1777 |
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Evolution Securities Ltd |
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Jeremy Ellis Chris Clarke |
+44 (0)20 7071 4300 |
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