Ability Inc: Zooms on deal to buy supplier

Ability

21/11/2018 16:21

** Shares of Israel-based interception and cyber security
tools provider  ABIL.O  up 92.2 pct at $5.42, trading at a near
three and a half month peak 
    ** ABIL agrees to buy the supplier from which it exclusively
licenses Ultimate Interception (ULIN), Co's principal cellular
interception system  urn:newsml:reuters.com:*:nGNX14MqXw 
    ** Co agrees to issue 354,609 ordinary ABIL shares i.e. the
equivalent of $1 mln
    ** In addition, also agrees to issue to the supplier three
warrants, each warrant exercisable for co's 100,000 ordinary
shares at an exercise price of $3.81
    ** If deal is completed, ABIL would no longer be subject to
the revenue share arrangement it currently has with the supplier
    ** Stock, which leads gains on the Nasdaq Composite Index
 .IXIC  today, has risen about 36.8 pct this year compared with
a 1.3 pct increase in the index 

 (Reporting by Aaron Saldanha in Bengaluru)
 ((Aaron.Saldanha@thomsonreuters.com; +91 80 6749 1130; Reuters
Messaging: Aaron.Saldanha@thomsonreuters.com@reuters.net))