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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gilat | LSE:GLT | London | Ordinary Share | IL0010938228 | ORD ILS 0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 87.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8655T Gilat Satcom Limited 28 March 2007 Gilat Satcom Ltd ("Gilat" or "the Company") Change of Ownership Gilat Satcom Ltd. (the "Company"), hereby announces that Worldgroup Holdings Ltd. ("Worldgroup") has entered into an agreement pursuant to which it has agreed to sell all of its shareholding in Satcom Systems Ltd. ("Satcom"), amounting to 53.6% of the issued share capital of Satcom (the "Shares"), to Ronen Kantor Trustees Ltd., which acts as trustee for a company which is a part of the Eurocom Group of companies ("Eurocom"). Eurocom is controlled by Mr. Shaul Elovitch. As at the date of this announcement, Satcom Systems holds 79.2% of the issued share capital of the Company. The Shares will be acquired for an aggregate purchase price of NIS 35 million (approximately GBP 4.26 million). Completion of this transaction is subject to receipt of the approval of the Israeli Minister of Communications and the Israeli Antitrust Autority. In addition, Eurocom has acquired an option (the "Option") to purchase additional shares of Satcom Systems (the "Option Shares"), amounting to 7.97% of the issued share capital of Satcom System, in consideration for NIS 6 million (approximately GBP 730,000). The Option Shares are held by Man Capital Investments Ltd., a company under the control of Mr. Marc Zalcman. The Option is exercisable until the earlier of: (a) 30 November 2007, or (b) 7 days following receipt of a notice from Man Capital Investments Ltd. of its intention to sell the Option Shares, provided that at the date of such notice, the price of Satcom Systems' shares on the Tel Aviv Stock Exchange is not less than NIS 3.41 per share. The Option Shares are mortgaged in favour of Worldgroup, Worldgroup has therefore given its consent to the terms of the Option. This information is provided by RNS The company news service from the London Stock Exchange END MSCEAEDPAELXEFE
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