Alon Carmeli will receive options amounting to a 3.1% stake.
Translation and localization software company Babylon Ltd. (TASE:BBYL) is to give an options package to its new CEO, just six weeks after appointing him. The company said yesterday that it would give the new CEO Alon Carmeli warrants for a total of NIS 3.2 million, exercisable at price of NIS 4.126 per unit in three years time. The package will give Carmeli a 3.1% stake in Babylon. The company did not give any details about the CEO's terms of employment.
At the beginning of the year Babylon underwent a change in ownership, in which a limited partnership headed by Noam Lanir acquired a 38% stake. The company currently has a market cap of NIS 156 million, after soaring more than 40% since early December. The new CEO, Alon Carmeli, is Lanir's brother in law.
Published by Globes [online], Israel business news - www.globes.co.il - on February 19, 2008
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