here are some old PR"s
DATE PUBLISHED: APRIL 07, 1997
TVG Technologies Ltd. Announces Sale of Telegate Shares
TEL AVIV, Israel, April 7 /PRNewswire/ -- TVG TECHNOLOGIES LTD. (Nasdaq:
TVGTF) (the "Company") today announced that the Company sold 58,253 shares
(the "Telegate Shares") of Telegate Ltd. ("Telegate")(approximately 8% of the
issued and outstanding shares of Telegate) owned by the Company for an
aggregate purchase price of approximately $1.6 million, subject to the
approval of the board of directors of Telegate.
On December 31, 1996, the Company entered into an agreement with third
party to sell the Telegate Shares. Two of Telegate's current shareholders
(one of which is Aryt Industries Ltd., an affiliate of the Company), together
with an investor, exercised their right of first refusal with respect to the
Telegate Shares and acquired the Telegate Shares on the same terms offered to
the third party. The Company will have a capital gain of $900,000 from this
transaction.
Earlier today, the seller of the Telegate Shares was mistakenly identified
as TAT Technologies Ltd., the parent of the Company.
DATE PUBLISHED: MARCH 29, 1999
TAT Technologies Sells 1,000,000 Shares of TVG Technologies
REHOVOT, Israel, March 29 /PRNewswire/ -- TVG Technologies Ltd.
(Nasdaq: TVGTF, TVGWF) (the "Company") today announced that its parent
company, TAT Technologies Ltd. (Nasdaq: TATTF; TATWF) ("TAT") has entered into
an agreement with a group of investors (the "Investors"), dated March 28, 1999
for the sale by it of 1,000,000 ordinary shares of the Company at a price of
$1.50 per share for an aggregate cash purchase price of $1,500,000 (the
"Purchase Price") representing approximately 40% of the issued and outstanding
shares.
The Investors have also received an option to purchase additional
1,000,000 ordinary shares of the company held by TAT, exercisable for a period
of one year from the date of the agreement at an exercise price of $2.00 per
share.
Pursuant to the agreement, following the receipt of the purchase price,
the Investors will be entitled to appoint the majority of TVG board members.
The Investors intend to introduce to TVG new activities relating to the
smartcard industry.
TVG Technologies Ltd. is an Israel-based high technology company
primarily engaged in the design, development, manufacture, marketing and
support of hardware products in imaging, video graphics, and computer
graphics. The Company products are primarily oriented toward high-end
personal computer (PC) platforms.
AI
