PCB |
Priortech grants options to purchase Camtek's shares to Israeli institutional investor
Camtek parent company and controlling shareholder, Priortech has signed an agreement on December 6th, 2009, for the sale of 1,087,447 of Priortech's ordinary shares to an Israeli institutional investor at a price of 10.21 NIS (approximatly € 1.82) per share.
As part of the agreement, Priortech also agreed to grant to the investor, for no additional consideration, two and a half year options (until June 30, 2012) to purchase 1,135,491 of Camtek's ordinary shares held by it, at an exercise price of 5.62 NIS per share (approximately € 0.99) a price which was 15% higher than the closing price of Camtek's ordinary share on the TASE as of December 3rd, 2009.
As of the date of the agreement, the 1,135,491 shares to be sold by Priortech upon exercise of the options, represent approximately 3.89% of Camtek's outstanding share capital.
Camtek would not receive any proceeds from any exercise of the options.
