Sarine Technologies : Response To Query Regarding Trading Activity
December 22, 2014 at 07:26 pm IST
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Announcement Title
Response to Query Regarding Trading Activity
Securities
SARINE TECHNOLOGIES LTD (SARINE)
Date & Time of Broadcast
Dec 22, 2014 21:42
Response Description
QUERY REGARDING TRADING ACTIVITY
22 December 2014
Sarine Technologies Ltd.
Question 1: Are you (the issuer) aware of any information not previously announced concerning you, your subsidiaries or associated companies which, if known, might explain the trading? Such information may include events that are potentially material and price-sensitive, such as discussions and negotiations that may lead to joint ventures, mergers, acquisitions or purchase or sale of a significant asset. You may refer to paragraph 8 in Appendix 7.1 of the Mainboard Rules for further examples. - If yes, the information shall be announced immediately.
The Company is not aware of any such information.
Question 2: Are you aware of any other possible explanation for the trading? Such information may include public circulation of information by rumours or reports.
As noted in the Company's Appendix 7.2 for Q3 2014 (published on 9 November 2014), the diamond industry, in which the Company operates, has been, and is likely to continue to be, during Q4 2014 and early 2015, adversely affected by credit shortage, increase in polished diamond inventories and the divergence in the prices of rough stones and polished diamonds. Based on recent publications made by leading figures and analysts in the diamond industry and based on queries made to the Company following such publications, it appears that such trends have indeed continued.
Question 3: Can you confirm your compliance with the listing rules and, in particular, Mainboard Rule 703?
The Company confirms that it is in compliance with the Listing Rules and, in particular, Mainboard Rule 703.
Sarine Technologies Limited is an Israel-based Company engaged in developing, manufacturing, marketing and selling precision technology products for processing of diamonds and gemstones. The Company's products provide solutions for every stage of rough diamond manufacturing process from geometrical modelling and internal inclusion mapping of the rough stone, through determining the derivable polished gems, based on true dollar value, through laser cutting and shaping. The Company's DiaMension family of products, including the DiaMension HD (high definition), are used in gemological institutes for the qualification and grading of a polished diamond's proportions. The Company's product portfolio includes Diamobile XXL, Galaxy Tension Solaris 100, Diascan S+, Diascan S+(Rough), Galaxy XL, Galaxy Meteorite, Instructror, Diamension Axiom, Diamension HD, Diamark, HD among others. The Company's systems assist the manufacturer to cut and polish the rough stones.