Edmond de Rothschild and Cohanzick funds buy ORAD shares
ISMM AG ("ISMM"), informed the Company today of a share sale agreement entered into during mid November under which ISMM sold all of its shareholding in Orad in an off-market transaction as part of the liquidation of its assets.
ISMM has sold 2,439,388 ordinary shares of NIS 0.01 ("Ordinary Shares") at a price of Euro1.85 per share to the Edmond de Rothschild Israel Opportunity Fund LP("Rothschild") and to the New York based Cohanzick Management fund ("Cohanzick").
Rothschild bought 1,459,459 Ordinary Shares representing approximately 13.49% of the Ordinary Share capital of the Company (being 12.7% on a fully diluted basis).Cohanzick, through three different managed funds, bought 979,929 Ordinary Shares representing approximately 9.06% of the Ordinary Share capital (and 8.52% on a fully diluted basis).
The Company welcomes the new investors and the contribution that they can make to the long-term growth of the company.
ORAD Hi Tec Systems GmbH
Founded in 1993, Orad is a world leader in TV production technology and is rapidly increasing its position in the real time 3D graphic market. Orad’s product line includes virtual sets, on-air graphics systems, channel branding, virtual advertising, sports production solutions and hardware for the Virtual Reality industry. Orad is a publicly traded company in the Prime Standard on Frankfurt’s Wertpapierbörse Prime Standard and AIM Market of the London Stock Exchange (symbol: OHT).www.orad.tv