Arkin will exercise an option to acquire 17.24% of the company for NIS 12 million.
Moshe (Mori) Arkin has informed the management of BreathID Ltd. (TASE:BRTI) that he intends to exercise the option he received just before the company held its IPO to acquire a 17.24% stake for NIS 12 million. He also informed BreathID's controlling shareholder, Hadasit Ltd., and its CEO Dr. Uri Geiger of his wish to join the company board and become its chairman.
BreathID stipulated in its IPO prospectus that Hadasit (which held 35.42%, of the company prior to Arkin's exercise of his option) and Geiger (who holds 11.37%), undertook to support Arkin's appointment as board chairman, provided that he has a minimum 10% equity share, so the appointment is likely to be approved.
Arkin is a member of the family which founded Agis Industries and led it for 30 years before selling it to Perrigo Company (Nasdaq:PRGO; TASE:PRGO) for $900 million in cash and stock. The deal made him one of the local investors with the greatest amount of liquid assets. Since then Arkin has made one major investment in Bezeq The Israeli Telecommunication Co. Ltd. (TASE: BEZQ), as a partner in the Ap-Sab-Ar Holdings Ltd. (the Apax Partners-Saban Capital Group Inc.-Arkin consortium), in which he holds 10%. He has also invested in the Pontifax LP fund, as well as biopharmaceutical companies, CollPlant Ltd., and Rosetta Genomics Ltd. (Nasdaq:ROSG).
Published by Globes [online], Israel business news - www.globes.co.il - on August 5, 2007
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