SIM.L Regulatory News (SIM)

16 Jul 2007 07:01

SimiGon Limited16 July 2007 16 July 2007 Holdings in Company SimiGon Limited ("the Company") announces that as part of its continuousmonitoring of its shareholder list, it has become aware that RHI Holdings, Inc("RHI") has reduced its shareholding in the Company by up to 742,500 ordinaryshares in the capital of the Company (the "Sale Shares") over a period of timefrom 28 February 2007 to 19th June 2007. These shares were sold by RHI whilstsubject to a lock-in agreement entered into on 27 October 2006 between certainof the Company's shareholders, including RHI, the Company and the Company'sBroker and nominated adviser, Panmure Gordon (Broking) Limited ("PanmureGordon"), (the "Lock-In Agreement"), as described in the admission document ofthe Company dated 27 October 2006. Having identified this breach of the Lock-In Agreement by RHI, the Company,Panmure Gordon and RHI have worked together to come to an arrangement to remedythat breach. As a result of these discussions RHI agreed to reinvest in theCompany all of the profits which it realised by the sale of the Sale Shares bypurchasing ordinary shares in capital of the Company ("Ordinary Shares") in themarket. To this end, RHI acquired 178,000 Ordinary Shares at a price of 80 penceper share on the 12th July (the "Purchased Shares"). RHI has also agreed inprinciple to sign a new lock-in agreement in relation to the Purchased Shareswhich expires three months later than the original Lock-In Agreement. TheOrdinary Shares which RHI held at the date of admission of the Company's entireissued share capital to trading on the AIM market (other than the Sale Shares)remain subject to the original Lock-In Agreement. Following these trades RHI continues to hold an interest in 1,411,195 OrdinaryShares representing 3.8% of the voting rights attributable to the OrdinaryShares in issue. Of these 1,411,195 Ordinary Shares, 1,233,195 are subject tothe original Lock-In Agreement with the remaining 178,000 to be subject to thenew lock-in agreement. Additional measures have been put in place to prevent any other locked-inshareholders selling any further shares until the original Lock-In Agreement hasexpired. Enquiries: SimiGon Limited Ami Vizer, CEO +1(407)3340402 Haim Yatim, CFO +972(52) 8391580 Panmure Gordon & Co Tom Forcier +44 (0) 20 7459 3600 Chris Bucknall This information is provided by RNS The company news service from the London Stock Exchange