3rd Apr 2006 07:50
Emblaze Ltd03 April 2006 Emblaze Ltd. Notification of Interest in Adamind and Date of Preliminary Results for Year Ended 31 December 2005 Emblaze Ltd. ("Emblaze" or the "Company") announces that on 31 March 2006, ithas sold 17,735,000 existing ordinary shares of ILS 0.01 in Adamind through aplacing by Bridgewell to institutional investors at 110p per Ordinary Share.Emblaze no longer has a holding in the Company. Eli Reifman, CEO of Emblaze, said: "Currently, the vast majority of Emblaze'sbusiness and future growth is generated from its mobile business. While we havegreat faith in the Adamind business model, space and future potential, itscontribution to the group's growth and global visibility has become negligiblein comparison with the Mobile division and therefore non-core to the Emblazegroup and marginal in its future support of shareholders' value. We have decidedto divert further management attention and resources to our main direction andas a result have disposed of our holdings in Adamind." Adamind was originally formed from Emblaze technology and business. Havingsupported the Company since its inception through all growth stages and mergerwith the Phillips MP4Net division, Emblaze Group saw Adamind become a realglobal leader in wireless media adaptation and Transcoding. Since Adamind'sadmission to AIM in February 2005, it has continued to grow strongly as anindependent company posting 100% growth in revenues in 2005. We wish only thebest for its future role in the newly forming next generation telecom markets." In addition, Emblaze announces that the preliminary results for the year endedDecember 31, 2005 will be published on Thursday April 27, 2006. On the day andduring the following days to the announcement, Eli Reifman, CEO and GuyBernstein, CFO will host a meeting for analysts, conduct institutionalinvestors' meetings and have its traditional open-house Q&A session for itsshareholders. Enquiries: EmblazeDoron Cohen/Hagit Gal +972 9 7699831/339Corfin CommunicationsHarry Chathli, Neil Thapar +44 20 7929 8989 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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