Cessation of Negotiations
21 Mayo 2008 - 4:19AM
UK Regulatory
Pilat Technologies International Ltd
Cessation of Negotiations
On 21 April 2008, Pilat Technologies International Ltd ("PTI" or the "Company")
announced that it had engaged the services of a financial adviser to produce
valuation reports on the Company and Adam-Milo Ltd. ("Adam-Milo"), a private
Israeli company engaged in the provision of assessment, recruitment and
organizational consulting services.
To the best of the Company's knowledge, Adam-Milo is controlled by a consortium
of investors including the Sky Private Equity Fund (the "Sky Consortium"),
which also controls 23 per cent. of the issued share capital of PTI.
Although the valuation exercise followed an approach by the Sky Consortium to
the board of directors of the Company proposing the potential acquisition of
Adam-Milo by PTI, the Sky Consortium has decided not to cooperate in the
valuation process resulting in the cessation of negotiations with the Sky
Consortium concerning a possible transaction.
Pilat Technologies International Ltd
Chaim Helfgott, Corporate Secretary 00 972 52 331 9174
Hanson Westhouse Limited 0113 246 2610
Tim Feather / Matthew Johnson
END
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