Update re cash distribution

14 Mar 2008 09:38

Adamind Ltd14 March 2008 14 March 2008 Adamind Ltd ("Adamind" or "the Company") Update re Cash Distribution to Shareholders Further to the Company's announcement of 6 March 2008, the Company herebyannounces that it has posted to its shareholders documents in connection withthe distribution to the Company's shareholders of approximately US$19.2 million,approximately GBP 9.6 million ("the Distribution"). These documents include arequest to provide certain information required by Israeli tax authorities todetermine whether the Company is obligated to make any withholding from theamounts to be paid to its shareholders pursuant to the Distribution. The total amount of shares with respect to which the Distribution will be madeis 36,903,311, resulting in a distribution amount per share (before withholding,if applicable) of approximately GBP 0.26. The Company expects to distribute on or about 31 March 2008 funds toshareholders who shall have provided the required information prior to 23 March2008 and on or about 13 May 2008 to shareholders who shall have provided therequired information by 4 May 2008. If there is a need for a third distributiondate in respect to the Distribution, a further announcement will be made by theCompany in due course. It remains the Company's intention to distribute as much of the Company'sresources as possible and a further announcement will be made in due courseconcerning further distributions. Enquiries Corfin CommunicationsHarry Chathli, Neil Thapar +44 20 7977 0020 This information is provided by RNS The company news service from the London Stock Exchange