|
1. In the Prospectus the public was offered securities as follows:
(1) Up to 686,000 ordinary shares, registered by name, of NIS 0.01 p.v. each (hereinafter: “the Shares”).
(2) Up to 1,715,000 options (series 1), registered by name, registered for trading, exercisable as described in the Prospectus and such that each option (series 1) shall be exercisable to one ordinary share of NIS 0.01 p.v. (hereinafter: “Options (Series 1)”).
(3) Up to 6,860,000 options (series 2), registered by name, registered for trading, exercisable as described in the Prospectus and such that each option (series 2) shall be exercisable to one ordinary share of NIS 0.01 p.v. (hereinafter: “Options (Series 2)”).
2. The securities were offered to the public in 49,000 units (hereinafter: “the Units”) by way of a tender for the unit price of no less than NIS 625.8 and no more than NIS 655.8. Each unit is composed of 140 ordinary shares, 35 Options (Series 1) and 140 Options (Series 2).
The Company was given a prior undertaking by institutional investors that those institutional investors would submit orders in the tender for 39,200 units, representing 80% of the offered units.
3. In the tender which took place on March 8, 2006, 138 applications were received, on which 100 were applications from the public and 38 applications from institutional investors, as stated, to purchase 65,620 units, for the sum of NIS 42,740,000, that is, about 1.34 times the quantity of units offered (orders were received in the tender for about 2.7 times the quantity of units offered to the public, less the units ordered by institutional investors).
The price per unit determined in the tender is NIS 655.8.
4. The units were allocated as follows:
(1) 38 applications from institutional investors, to purchase 39,200 units, stating the price determined in the tender, were fully granted.
(2) 56 applications to purchase 16,474 units, stating the price determined in the tender, were granted at the rate of 59.49% (rounded to the nearest whole unit).
(3) 44 applications from the public to purchase 9,946 units, stating a price lower than the price determined in the tender, were not granted.
Following the aforesaid allocation, the requirements for minimal dispersion and the requirements concerning the value and rate of public holdings of Company shares, requirements stated in the guidelines from the Stock Exchange, are being met.
5. The immediate proceeds (gross) from the sale of the shares offered to the public under the Prospectus are about NIS 32,134,000.
6. The total future proceeds that the Company is likely to receive from the exercise of all the Options (Series 1) offered under the Prospectus, is about NIS 7,666,000 (gross), plus index linkage differentials. In addition, if all the Options (Series 2) offered under the Prospectus are exercised during the first exercise period, as defined in the Prospectus, the Company will receive an additional NIS 39,445,000 (gross), plus index linkage differentials. If all the Options (series 2) are exercised in the second exercise period, as defined in the Prospectus, the Company will receive an additional NIS 45,962,000 (gross), plus index linkage differentials, all as specified in the Prospectus.
7. It should be noted that, following completion of the IPO, proceedings for increasing the Company’s registered capital, for consolidating Company capital, for splitting the Company’s share capital and for distributing bonus shares to Company shareholders, all of which were described in the Prospectus, came into force. As of the date of this immediate report, the Company’s capital consists of ordinary shares of the Company of NIS 0.01 p.v. each.
[Non-binding translation of the company's Hebrew announcement.]
|