Possible list candidate:
Aryt Industries...ticker ARYTF...filing at
sec.gov
Shares outstanding 43,333,781
Long filing, had news yesterday, does this filing sound to good to be true? Wheeeeew, a long read but I bought yesterday and am still researching
Excerpts from filings:Two shareholders hold 41.71% and Amcoram holds 10.71%..Total 52.41% ...float apprx. 20.6 million
As of June 30, 2000, approximately 8% of the Company's outstanding
shares were held in the United States.
The most interesting part:EVENTS
In January 2000, we sold our interest in Telegate to Terayon
Communication Systems, Inc. ("Terayon") in exchange for approximately 220,000
shares of Terayon common stock and approximately $160,000 in cash. Of the
Terayon shares we received, 16,000 are held in escrow by Terayon to secures
certain rights of Terayon and are to be released from escrow in January 2001,
assuming no claim is made against the escrowed shares. As a result of this
sale we realized a capital gain of $13.03 million. As of June 30, 2000, we
sold approximately 200,000 of our Terayon shares at an average price of $203
per share for aggregate proceeds of $40.06 million. As a result of this sale
we had a profit on the sale of marketable securities of $35.38 million, during
the first quarter of 2000.
This is TERN
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As a result of our sale of our interest in Telegate and our
disposition of substantially all of the Terayon shares that we received in
that transaction, we received gross proceeds of approximately $40.2 million in
the first half of 2000. After payment of transaction expenses, debts,
provision for taxes, and application of funds to acquisitions of interests in
Voice Diary, Sensotech and OfficeCore, we have approximately $21 million
available for investment in our business. Pending application in our existing
businesses or in investment opportunities in emerging technology companies,
those funds have been invested as follows:
On June 19, 2000, Reshef entered into a Share Purchase Agreement with
Soltam Systems, Ltd. ("Soltam") and into an Activity Purchase Agreement with
Soltam's subsidiary, K.M. Fuzes Engineering, Ltd. ("Soltam Fuze"). Pursuant to
the agreement, Soltam will purchase from Reshef newly issued shares of Reshef,
representing 26% of Reshef, for $1.5 million and Reshef will purchase from
Soltam Fuze all of its operations relating to the development, manufacturing
and sale of electronic fuzes, for $1.5 million. The closing of this
transaction is subject to certain contingencies, including the receipt of
various Israeli regulatory approvals.
Found this on Soltam from an israel newspaper:
HA'ARETZ NEWS Thursday March 30, 2000
Soltam wins deal to upgrade Indian artillery
By Amnon Barzilai
Ha'aretz Defense Correspondent
Soltam Systems Ltd. won a $47.5 million contract to upgrade 180 artillery pieces of the Indian Army following a tender process which lasted six years and involved competition from French, Swedish, Czech an South African companies. The project is expected to be completed in two years and will be done in Israel.
A decision on an option for the upgrading of an additional 220-250 artillery pieces will be made by Indian officials next year.
According to the contract, Soltam will upgrade Russian-made M-46 130 mm field artillery pieces into 155 mm guns similar to the ones used by the Israel Defense Forces. The changes to the pieces involve the replacing of the gun tubes and the firing mechanisms. The upgraded guns will have six-meter tubes and ranges of up to 39 kilometers.
The Indian Army tender was delayed because of variations in the concepts presented to the Indian Defense Ministry by competing companies. Only Soltam offered to retain the original structure of the artillery pieces.
India is one of the largest users of 130 mm artillery in the world and it was agreed that if the option for further upgrades is implemented, Soltam will cooperate with local Indian industry in the upgrades and transfer know-how for the building of gun-tubes there.
More from filing:
We are currently considering altering the holding structure for one
or more of our subsidiaries or investee companies. Such plans are still under
consideration. In contemplation of such possible alteration, on May 31, 2000,
we entered into a Memorandum of Understanding with Ram Zur Industries Ltd.
("Ram") and certain of its shareholders pursuant to which we are to purchase
approximately 63% of Ram's share capital from Ram and its shareholders for NIS
7.35 million. In addition, at closing, the shareholders of Ram will purchase
all of Ram's operations and assets in exchange for assuming all of Ram's
current obligations. The closing of this transaction is subject to certain
contingencies, including the receipt of various Israeli regulatory approvals.
If such transaction closes, Ram could serve as a publicly traded (Tel Aviv
Stock Exchange) vehicle through which we may directly or indirectly hold
certain of our subsidiaries or investee companies.
This news yesterday:
Thursday September 28, 9:08 am Eastern Time
Press Release
Aryt's Subsidiary Received an Order and Was Awarded a Bid From the IMDF
TEL AVIV, Israel--(BUSINESS WIRE)--Sept. 28, 2000--Aryt Industries Ltd. (OTCBB:ARYTF - news) announced today that on September 27, 2000, Amcoram Ltd., (``Amcoram''), Aryt's wholly-owned subsidiary, received an order for a simulator from a European company, amounting to $550,000 US dollars.
In addition, Amcoram was awarded a bid from the Israel Ministry of Defence for a similar simulator in the amount of 640,000 NIS. The Ministry also received an option to purchase another simulator for the same amount. Delivery of the orders is scheduled for the first month of the year 2001.
Upon completion of the order from the European company and receipt of the order from the Israeli Ministry of Defence, Amcoram shall have to pay TECsys Ltd., from whom the simulator business was acquired, a additional consideration, in the amount of 270,000 US dollars.
Aryt Industries Ltd. is an Israeli investment and holding company, retaining developing companies in different fields involved in industrial technologies, through its holdings Voice Diary (18%), Sensotech (25%), OfficeCore (30%), and specialized technological companies involved in military defence.
--------------------------------------------------------------------------------
Contact:
Aryt Industries Ltd.
Ran Eckhaus, CFO
Tel: 972-3-538-8613
Fax: 972-3-533-9223
This news from 9/24/2000
Sunday September 24, 9:56 am Eastern Time
Press Release
Aryt Industries Affiliate, Sensotech Ltd., Initials Agreement With Vapor Corporation
TEL AVIV, Israel--(BUSINESS WIRE)--Sept. 24, 2000--Aryt Industries Ltd. (``Aryt'' or the ``Company'') (OTC BB: ARYTF - news) announced today that an Agreement was initialed between Sensotech, Ltd., (25% owned) (henceforth ``Sensotech''), and Vapor Corporation (henceforth ``Vapor''), to sell the manufacturing rights of one of Sensotech's products ``CLASS'' - a contact-less acoustic sensor system for public transportation (busses and trains) in North America, for a period of ten (10) years, and to receive orders for supplying sensors.
According to the said Agreement, Vapor will pay Sensotech for the manufacturing rights at the first stage, the sum of $770 thousand US dollars, and in addition Sensotech will receive royalties on sales of CLASS by Vapor.
Sensotech management estimates that the sum of these royalties will amount to up to $700 thousand US dollars a year.
In addition, Sensotech received an order for supplying sensors during the year 2001, amounting to $260 thousand US dollars.
Sensotech is in the business of development, manufacturing and marketing intelligent safety sensor systems, utilizing ultrasound technology for various applications.
Sensotech safety sensors are designed for the auto industry (``ACCESSOR''), public transportation (``CLASS''), elevators (``Sensolift''), and other products now under development, based on Sensotech technology.
In August this year, Sensotech set up a fully owned subsidiary, Sensotech Automotive, through which it will serve the automotbiles market (manufacturing, development and marketing). Sensotech Automotive will seek strategic partnerships for the automotive industry.
Aryt Industries Ltd. is an Israeli investment and holding company, retaining developing companies in different fields involved in industrial technologies, through its holdings Voice Diary (18%), Sensotech (25%), OfficeCore (30%), and specialized technological companies involved in military defence.
--------------------------------------------------------------------------------
Contact:
Aryt Industries Ltd.
Ran Eckhaus, CFO
Tel: 972-3-538-8613
Fax: 972-3-533-9223
Vapor Canada is a division of Westinghouse Air Brake Co.
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