1 July 2014
Micronet Enertec Technologies, Inc. (NASDAQ: MICT) said that its subsidiary Enertec Electronics, Ltd. signed a definitive agreement to acquire 736,341 shares of Micronet Ltd constituting 3.9 percent of the issued and outstanding shares of Micronet from Rafi Katz, Micronet´s former CEO.
The consideration for the purchased shares is USD642,000. After closing of the transaction, the company´s ownership will increase to 62.5 percent of the issued and outstanding shares of Micronet.
Micronet Enertec Technologies operates through two companies, Enertec Systems 2001 Ltd, its wholly-owned subsidiary, and Micronet Ltd, in which it has a controlling interest. For more information visit: www.micronet-enertec.com.