Medigus Ltd. (TASE:MDGS) today notified the Tel Aviv Stock Exchange (TASE) Dexxon Technologies (2005) Ltd. wants to leave the controlling shareholder group and sell its stake in the company. Dexxon has offered Medigus's other controlling shareholders to buy its stake at NIS 2 per share, a 30% discount on Medigus's opening price today.
Medigus's share fell 7.4% to NIS 2.16, giving a market cap of NIS 125 million.
Dexxon, controlled by Dan Oren, owns 6.18 million Medigus shares, amounting to 10.74% of the company. Dexxon's offer is conditional on the other shareholders buying at least 4.5 million of its Medigus shares (two-thirds of the holding) and responding to the offer by September 15.
Medigus's other controlling shareholders said that they would consider the offer favorably. They include Medigus chairman Yair Rabinowitch, Medigus CEO Elazar Sonnenschein, Minelu Sonnenschein, Aviel Roy-Shapira, and patent law firms Luzzatto & Luzzatto partners Kfir and Esther Luzzatto.
Dexxon's offer to sell comes after two failed attempts to increase its stake in the esophagus endoscope maker.
Published by Globes [online], Israel business news - www.globes-online.com - on September 2, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009