Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Shefa Gems Ltd LSE:SEFA London Ordinary Share IL0011101057 ORD NIS0.10 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 5.75p 5.00p 6.50p 5.75p 5.75p 5.75p 0 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 6.0 0.4 13.7 10.00

Shefa Yamim (A.T.M.) Ltd Amendment: Subdivision of Shares

17/04/2019 7:00am

UK Regulatory (RNS & others)


Shefa Gems (LSE:SEFA)
Historical Stock Chart

3 Months : From Mar 2019 to Jun 2019

Click Here for more Shefa Gems Charts.

TIDMSEFA

RNS Number : 4152W

Shefa Yamim (A.T.M.) Ltd

17 April 2019

B"H

17 April 2019

AMENDMENT: Subdivision of Shares

Following its announcement on 11 April 2019 of Proposed Change of Company Name, Appointment of Chairman, Subdivision of Shares Notification of Annual General Meeting (the "Announcement"), Shefa Yamim (A.T.M.) Ltd. would like to update the market that the announced share split of 10 to one will become effective on 23 April 2019, not 17 April 2019 as originally announced. Furthermore, the new share certificates are expected to be dispatched the week commencing 27 May 2019, being after the AGM has been held, not 1 May 2019 as originally announced.

All other information within the announcement remains the same. The full amended text is shown below.

11 April 2019

Shefa Yamim (A.T.M.) Ltd.

("Shefa Yamim" or the "Company")

Proposed Change of Company Name, Appointment of Chairman, Subdivision of Shares

Notification of Annual General Meeting

Shefa Yamim (LSE: SEFA), a precious stone exploration and prospecting company in Northern Israel, announces the Board of Directors' intention to change the English name of the Company to Shefa Gems Ltd.

Proposed Change of Company Name and Notification of Annual General Meeting

The proposed change is a reflection of the Company's "Mine to Market" strategy. By renaming itself as Shefa Gems, it will enable the Company to build a global brand by leveraging the positive brand-value associated with the rare gemstones amongst the suite of precious stones found in the Kishon Mid-Reach area.

A special resolution to approve the name change will be proposed at the Group's Annual General Meeting, which will be held on 23 May 2019. The Company's ticker on the London Stock Exchange will remain SEFA. Should shareholder approval be granted for the name change then the Company will issue new share certificates under Shefa Gems Ltd.

Appointment of Chairman

The Company is also pleased to announce that, in accordance with its commitment to high corporate governance standards, it is separating the roles of the Chairman and Chief Executive Officer. Mr Michael Rosenberg, OBE who is based in London and is currently an External Director and independent Non-Executive Director of Shefa Yamim, has been appointed as Chairman of the Company effective from 1 May 2019. Mr Avi Taub will continue in his role as Chief Executive Officer.

Subdivision of Shares and Total Voting Rights

The Company has been seeking to address the lack of liquidity in the shares of Shefa Yamim and following recommendations from its advisors, the Board of Directors have resolved to a subdivision ("share split") of Shefa Yamim (A.T.M.) shares traded on the Standard List of the London Stock Exchange. The Company will be conducting a 10 for one share split.

The Board of Directors of the Company confirm that the 14,236,426 ordinary shares of 1 NIS in issue as at 09 April 2019 ("Existing Ordinary Shares") will be sub-divided into 142,364,260 New Ordinary Shares of 10 Agorats ("New Ordinary Shares") each. 1 NIS is equal to 100 Agorats

Shareholders should multiple their Existing Ordinary Shares by ten to get their number of New Ordinary Shares.

The Existing Ordinary Shares of one shekel each are expected to be cancelled on 18th April and the New Ordinary Shares are expected to commence trading on 23rd April 2019. The new share certificates are expected to be dispatched the week commencing 27 May 2019, after the AGM has been held.

Following the share split, in conformity with Disclosure and Transparency Rule 5.6.1.R the Company's capital will consist of 142,364,260 New Ordinary Shares with voting rights. Shefa Yamim holds no New Ordinary Shares in Treasury.

The above figure, 142,364,260, may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Shefa Yamim (A.T.M.), under the FCA's Disclosure and Transparency Rules.

Avi Taub, CEO of Shefa Yamim, said: "The past 15 months has seen excellent progress made by Shefa Yamim which has seen the Company reach several key milestones including advancing exploration in our primary target, the Kishon Mid-Reach. 2019 is set to be a transformational year and in this regard, we are delighted that our UK-based independent non-executive director, Michael Rosenberg, OBE, has agreed to be the Chairman of the Company. His experience of the London markets will be invaluable as we navigate through this period of major change.

"We are focused on taking the Company forward towards trial mining in the Kishon Mid-Reach Zone 1 area as well as developing our "Mine to Market" strategy. The name change is a vital part of this strategy which will enable us to build a global brand and forge a distinctive identity for the Company and its unique gemstones. We look forward to this next phase in our development and address the significant opportunity in front of us."

- Ends -

Enquiries

 
 Shefa Yamim (A.T. M.) Ltd 
 Avi Taub, Chief Executive Officer 
  www.shefayamim.com                   +44 20 7618 9100 
                                      ---------------------------- 
 
 VSA Capital Limited - Financial 
  Adviser 
                                      ---------------------------- 
 Andrew Raca                           +44 20 3005 5000 
                                      ---------------------------- 
 
 SI Capital Limited - Broker 
                                      ---------------------------- 
 Greg Mahoney, Nick Emerson and Jon    +44 20 3871 4038 / +44 1483 
  Levinson                              413500 
                                      ---------------------------- 
 
 Luther Pendragon 
                                      ---------------------------- 
 Harry Chathli, Alexis Gore, Rachel 
  So                                   +44 20 7618 9100 
                                      ---------------------------- 
 

Notes to Editors

About Shefa Yamim (A.T.M.)

Shefa Yamim (LSE: SEFA) is a multi-commodity explorer of precious stones operating in Northern Israel. Exploration activity is managed by professionally skilled and technically competent personnel and is accompanied by an international team of geological experts with decades of proven experience in their fields.

All exploration activities are conducted under international standards and the internationally recognised SAMREC 2016 Code. Furthermore, its permits, granted to it by the Commissioner of Mines, extend over an area of approximately 600,000 Dunam (60,000 hectares) that includes the Kishon River, the volcanic bodies on Mount Carmel, the Zevulun and Yizre'el valleys and their margins - Menashe Hills, Tivon-Alonim Hills, and Nazareth range. The Company upholds environmental values and protects the nature in the areas where it operates, cooperating fully with all authorities.

Shefa Yamim is currently focused on developing a "Mine to Market" strategy, which includes exploration, mining, designing and selling its jewellery pieces containing gemstones from the Holy Land. As part of this strategy, the Company is collaborating with award-winning jewellery designer, Yossi Harari, who has created a unique 24k gold, "Heaven on Earth" jewellery collection with Shefa Yamim's rare gemstones. www.shefayamim.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCCKADKDBKBAQD

(END) Dow Jones Newswires

April 17, 2019 02:00 ET (06:00 GMT)

1 Year Shefa Gems Chart

1 Year Shefa Gems Chart

1 Month Shefa Gems Chart

1 Month Shefa Gems Chart
Your Recent History
LSE
SEFA
Shefa Gems
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20190627 10:22:30