10th Aug 2021 19:28
Shefa Gems Ltd - Israel-based gemstone mining company - Names attorney Natan Drukman to progress with the disposal of the mining business by way of a dividend in specie to existing shareholders, and this is expected to complete subject to the schedule to be determined by the court in Israel. Following the disposal of the mining business, the company says it will become a cash shell seeking acquisition opportunities in the web technology and software space. Shefa Gems intends to change its name to Alef Bet Advanced Technologies, or a similar name, as approved by the Israeli Registrar of Companies. In the next couple of days, the company says it will complete the equity subscription of shares at a price of USD0.0005 each, raising a total of USD1.1 million.
The company confirms that Executive Chair Alon Shany and Non-Executive Directors Jacques Abitbol and Eva Abittan have been appointed to board. Michael Rosenberg, David Nachshon, Gershon Frenkel, Zvi Nemeth, James Campbell and Natan Drukman have stepped down. Yossef Taub remains on the board as a regular director, and Nathalie Schwarz remains on the board as an independent non-executive director.
Current stock price: 0.89 pence
Year-to-date change: down 56%
By Evelina Grecenko; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Shefa Gems