Message #30 From:
FastFun Date: September 7, 2007 09:28:37 PM
Arotech to Dual List on the Tel-Aviv Stock Exchange
September 5, 2007 - Arotech Corporation (NasdaqGM: ARTX), a provider of quality defense and security products for the military, law enforcement and security markets, announced today that the Israel Securities Authority and the Tel-Aviv Stock Exchange (“TASE”) have approved the dual listing of Arotech’s common stock on the TASE. Arotech’s common stock will continue to be listed on the Nasdaq Global Market, and Arotech will continue to be subject to all the rules and regulations of the Nasdaq and of the U.S. Securities and Exchange Commission. Arotech’s management does not anticipate any significant added costs associated with this dual listing, since the TASE reporting requirements are nearly identical to those of the U.S. Securities and Exchange Commission.
“By listing our shares on the TASE, we hope to promote a broader, more international institutional investment, which would increase our trading volume and liquidity,” said Robert S. Ehrlich, Chairman and CEO of Arotech. “Additional advantages of a TASE listing include longer trading hours and lower trading costs for Israeli investors,” stated Ehrlich.
“We are delighted to welcome Arotech to the TASE,” commented Ronit Harel Ben-Ze’ev, Senior Vice President and head of the Listing and Economic Department at the Tel-Aviv Stock Exchange. “More than 50 companies whose shares are traded on the Nasdaq, the New York Stock Exchange, the American Stock Exchange, or the London Stock Exchange have already dual listed in the TASE. Dual listing exposes these companies to the Israeli investment community,” added Ms Harel Ben-Ze’ev.
Trading on the TASE is expected to commence on Monday, September 10, 2007 under the ticker symbol ARTX, which is also Arotech’s ticker symbol on the Nasdaq.
