Ampal Announces Sale of Controlling Interest by Steinmetz to Maiman.Business Editors NEW YORK--(BUSINESS WIRE)--April 25, 2002 Ampal-American Israel Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AMPL (language) AMPL - Along with mpl, the intrinsic parallel languages for MasPar's computers. AMPL and mpl are parallel variants of C. Ampl is actually now a gcc port. ["AMPL: Design, Implementation and Evaluation of a Multiprocessing Language", R. Dannenberg, CMU 1981]. ) announced today that Rebar Financial Corp., a corporation owned and controlled by Raz and Daniel Steinmetz, had completed the sale of approximately 51% (on a fully-diluted basis) of the outstanding shares of Ampal-American Israel Corporation to Y.M. Noy Investments Ltd., a company controlled by Yosef A. Maiman. The sale of these shares was in accordance with the previously announced February 26, 2002 agreement between Rebar and Y.M. Noy. Regulatory approvals necessary for the closing of the transaction have been received. As part of the sale, Ampal's employees sold to Y.M. Noy 329,000 Ampal Class A shares at $7.46 per share. In addition, Ampal also announced that effective April 25, 2002, Mr. Yosef Maiman was elected as Chairman of Ampal's Board of Directors and Mr. Jack Mr. Jack was a funny animals comic strip by Jimmy Swinnerton which ran from about 1903 until 1935. History When Jimmy Swinnerton moved from the San Francisco Examiner to the New York Journal in 1896, he changed his The Little Bears to Bigio was appointed as Chief Executive Officer and President of Ampal following the resignations of Mr. Daniel Steinmetz and Mr. Raz Steinmetz. At the same time, the following directors resigned from Ampal's Board of Directors: Benzion Benbassat, Avi Vigder, Kenneth L. Henderson, Esq. and Yaacov Elinov. Ampal's new Board of Directors consists of these directors: Yosef Maiman (Chairman), Jack Bigio, Leo Leo, in astronomy Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. Malamud, Michael Arnon, Hillel Peled and Eliyahu Wagner. Ampal and its subsidiaries primarily acquire interests in businesses located in the State of Israel or that are Israel-related. Ampal's primary investment focus is the growing high technology and communications sector. Ampal has diversified interests in the following sectors: high technology and communications, real estate, capital markets, leisure-time, energy distribution, and industry. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Further information regarding risks and uncertainties are detailed from time to time in the Company's filings with the Securities and Exchange Commission. This release and prior releases are available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide Web site at www.kcsa.com. |
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