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Company Announcement

14th Aug 2013 07:00

EMBLAZE LTD - Company Announcement

EMBLAZE LTD - Company Announcement

PR Newswire

London, August 14

Emblaze Ltd (LSE:BLZ) ("Emblaze" or "the Company") Company Announcement Herzeliya, Israel, 14 August 2013: The Company has been informed by itschairman, Naftali Shani, that he is in advanced discussions to dispose of hisentire holding of shares in the Company (comprising 15,482,784 shares,representing 14.08 per cent. of the Company's issued share capital (excludingtreasury shares)) (the "Shani Stake") to BGI Investments (1961) Ltd. ("BGI"). The Company is also aware that Fortissimo Capital are also in advanceddiscussions to dispose of its entire holding of shares in the Company(comprising 18,782,880 shares, representing 17.08 per cent. of the Company'sissued share capital (excluding treasury shares)) (the "Fortissimo Stake" and,together with the Shani Stake, the "Stakes") to BGI. In addition, if the acquisition of the Stakes proceed, it is anticipated thatthe Company will appoint new members to its board of directors and that some ofthe existing members may step down from the board of directors. The Company also noted reports in the Israeli media that such acquisition couldpotentially lead to the filing by the Company of an offer to purchase stake inIDB Holdings Corporation Ltd as part of ongoing Israeli court proceedingsrelated to IDB Holdings Corporation Ltd, although the Company has, to date, notengaged in any discussions in this context. There can be no guarantee that the acquisition of either the Shani Stake or theFortissimo Stake will complete or that the changes to the board of directorswill take effect. The Company will update the market as soon as it receivesfurther information. Enquiries: Piers Coombs/ Tim Redfern/ Kit Stephenson/ Nicola Mitford-Slade/ Adam Miller +44 20 7523 8000 Canaccord Genuity Ltd Emblaze is traded on the London Stock Exchange (LSE: BLZ) since 1996.

www.emblaze.com


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