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ELSIGHT LIMITED — Capital/Financing Update 2022
Apr 6, 2022
64836_rns_2022-04-06_4cc76211-7b63-4f68-b58c-abaf4c72682c.pdf
Capital/Financing Update
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07 April 2022
ASX Announcement
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Block Trade to Facilitate Early Exercise of Options
Elsight Limited (ASX: ELS) (‘Elsight Ltd’, ‘Elsight’ or ‘the Company’) , announces that a block trade of 8,040,002 ordinary shares, representing 6.02% of the issued capital in the Company was facilitated on 6 April 2022 at a price of $0.35 per share. Co-Founders Nir Gabay and Roee Kashi were parties to the block trade for the purpose of funding the early exercise of options (‘the Options’), and for taxation purposes.
Funds raised from the early exercise of the Options allows the Company to accelerate the executing of the design win strategy, which sees the Company’s “Halo” technology rolled out with commercial partners.
In a strong show of support to the business moving forward, and an endorsement of the management team, the newly acquired shares will be subject to a six-month voluntary escrow period. The entry into the voluntary restriction deed confirms both holders wish to remain long term shareholders of the Company.
The Company will provide further information when available.
The relevant regulatory forms in relation to the Options exercise and changes in substantial shareholdings will be provided to the ASX in due course.
Authorised for release by the Board of Directors of Elsight Limited.
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For more information, please contact:
Corporate & Business Enquiries Media Enquiries Howard Digby Justin Kelly Elsight Limited Media + Capital Partners T: +61 434 987 750 M: +61 408 215 858 E: [email protected] E: [email protected]
About Elsight
Elsight (ASX:ELS) (www.elsight.com) Elsight delivers Absolute Connection with 24/7 Confidence. Our proprietary bonding technology incorporates both software and hardware elements to deliver extremely reliable, secure, high bandwidth, real-time connectivity - even in the most challenging areas for stationary, portable, or actively mobile situational requirements.