PIA Pilat Tech.

    RNS Number : 0177H
  Pilat Technologies International Ld
  30 October 2008
   

    PILAT TECHNOLOGIES INTERNATIONAL LTD.

    PROPOSED CANCELLATION OF ADMISSION TO TRADING ON AIM

    The Directors of Pilat Technologies International Ltd. ("Pilat" or "the Company") announce that on or around 3 November 2008 a circular
will be posted to the Company's shareholders ("Shareholders") to convene a General Meeting at which a resolution will be proposed to approve
the cancellation the admission of the Company's ordinary shares ("Ordinary Shares") to trading on AIM ("the Cancellation"). Resolutions will
also be proposed at the General Meeting in accordance with the requisition received from certain shareholders as announced on 20 October
2008.

    It is expected that, subject to Shareholder approval at the General Meeting on 4 December 2008, the Cancellation will take effect at
8.00 a.m. on 12 December 2008.  Pilat's Ordinary Shares will continue to be traded on the Tel Aviv Stock Exchange ("TASE").

    Background to the Cancellation 

    In making the decision to cancel the admission of the Company's Ordinary Shares to trading on AIM, the Directors have considered the
ongoing expense of maintaining a quotation on both AIM and the TASE and the current low volumes of trading in the Ordinary Shares on AIM. In
recent years there has been only limited trading of Pilat's shares on AIM, whilst on the TASE the volume traded has been many times higher,
perhaps reflecting Pilat's higher profile on the Israeli market.

    In common with many smaller companies trading on AIM, Pilat has suffered from a lack of institutional investor interest, thin trading
volumes and large spreads in the quoted share price.

    The Directors also believe that the Company's listing on the TASE gives it adequate access to capital. In 2000, when the Company needed
to raise funds, it did so by raising US$6,000,000 via a private placing in Tel Aviv without AIM involvement.

    Trading on AIM gives rise to a number of additional expenses including ongoing AIM fees, Nominated Adviser fees, CREST fees and the need
to publish accounts in English. In addition, the dual listing increases the complexity of the Company's regulatory obligations which
consumes management time.

    Following the Cancellation, the Ordinary Shares will not be quoted on a market in the UK and the Ordinary Shares will cease to be
registered with CREST.  However the Ordinary Shares will continue to be traded on the TASE.

    In order to enjoy the benefits of trading on the TASE, the holders of shares trading on AIM should transfer the registration of their
shares from AIM to the TASE, by following the simple procedures listed on the Company's website at www.pilat.com/investors.

    To facilitate the continual trading of the Ordinary Shares currently quoted on AIM: 

 1.  Pilat will publish an extract of the Company's quarterly financial
     reports in English on its website, for at least two years following the
     Cancellation; and

 2.  Pilat has reached an agreement with Clal Finance Ltd. ("Clal")
     (www.clalfinance.com), the largest financial institution outside the
     banking system in Israel, which has agreed to open brokerage accounts and
     assist in registering Pilat shares on the TASE. Clal has agreed to make
     this process as simple as possible and Shareholders should contact Ms.
     Noya Amuyal (in English) by email, telephone or post as follows:

    e-mail: noyaa@clal-fin.co.il
    phone: +972 3 565 2598
    post: Ms Noya Amuyal, Clal Finance, The Rubinstein Building, 37 Menachem Begin Street, Tel-Aviv 65220, Israel.

    Following the initial contact, a representative of Clal will contact the Shareholder and explain the registration process. Upon
completion of the process the Shareholder will hold Pilat shares freely tradable on the TASE and have an account with a broker who will be
able to assist in trading these shares, as well as other stocks, bonds, mutual funds, option and other instruments available in the Israeli
market. 

    The Company Secretary is also available to assist any Shareholder with registration.

    Until such time as the Shareholders whose shares were trading on AIM have been registered for trading on TASE, the Shareholders will:

 1.  continue enjoying all the rights of Shareholders, including the right to
     receive notices of, and participate at, Shareholders' meetings, rights to
     receive dividends and any and all rights of Shareholders; and

 2.  be able to sell shares through private sale, though not on an exchange.

    The Cancellation should result in the Company achieving administrative cost savings, without adversely affecting Shareholders, the
trading of its shares and the ability to raise funds on an exchange.

    Enquiries:

 Pilat Technologies International Ltd  00 972 3 767 9200
 Chaim Helfgott, Company Secretary

 Hanson Westhouse Limited                  0113 246 2610
 Tim Feather / Matthew Johnson


This information is provided by RNS
The company news service from the London Stock Exchange
 
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