He will own 18% of Kamada both directly and through his companies.
Leon Recanati today exercised Kamada Ltd. (TASE: KMDA) options worth NIS 10 million. He is a director in the pharmaceutical company and a party at interest in it though his companies, and will now own 18% of Kamada both directly and through his companies.
Recanati exercised series 2 options in Kamada that are scheduled to expire on August 27. $5 million worth of options from this series have been exercised to date, out of a possible $10 million. In early July, Ralph Hahn also exercised series 2 options worth NIS 2.9 million, and Kamada CEO David Tsur exercised NIS 100,000 worth of options in June.
Kamada issued series 2 options as part of its offering in August 2005. The options were traded on the market at NIS 0.70, compared with their current price of NIS 2.70, two weeks before their expiry. The options can be converted into shares at NIS 17 per share, compared with the current share price of NIS 20.80.
Published by Globes [online], Israel business news - www.globes.co.il - on August 13, 2006
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