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Bio-Light to allocate 5 million shares to Menorah-Mivtachim

By Gali Weinreb and Ron Stein

Globes

March 6, 2007

Bio-Light Israeli Life Sciences Investments Ltd. will allocate five million shares and one million warrants to Menorah Mivtachim Holdings Ltd. subsidiaries Menorah Mivtachim Pensions and Menorah Mivtachim Gemel.

The amount of the private placement will be determined at 96% of Bio-Light’s share price on the date the allocation is approved, up to a ceiling of NIS 21 million. If the value of the placement falls below NIS 18 million, Bio-Light may cancel the placement.

Menorah Mivtachim will own 13% of Bio-Light after the deal. The investment is part of the trend of non-financial investments by pension companies.

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