May 9, 2018 / 5:51 AM / 12 days ago

BRIEF-Foresight Signs Agreement To Merge Eye-Net Activities With Tamda

May 9 (Reuters) - Foresight Autonomous Holdings Ltd :

* PRESS RELEASE - FORESIGHT SIGNS AN AGREEMENT TO MERGE ITS EYE-NET™ ACTIVITIES WITH TAMDA

* FORESIGHT AUTONOMOUS HOLDINGS-WILL TRANSFER 100% OF SHARE CAPITAL OF SUBSIDIARY TO TAMDA IN RETURN FOR APPROXIMATELY 74.49% OF TAMDA’S SHARE CAPITAL

* FORESIGHT AUTONOMOUS HOLDINGS - TAMDA WILL HAVE NO ASSETS, LIABILITIES OR OBLIGATIONS OF ANY KIND AND WILL HAVE NET CASH OF NIS 2,000,000 UPON CLOSING

* FORESIGHT AUTONOMOUS - WILL SPIN OFF ITS ACTIVITIES DEDICATED TO DEVELOPMENT OF ITS EYE-NET(TM) ACCIDENT PREVENTION SYSTEM INTO ITS UNIT

* FORESIGHT AUTONOMOUS HOLDINGS LTD - HAS SIGNED A MERGER AGREEMENT WITH TAMDA LTD AND ITS CONTROLLING SHAREHOLDER, IPAX ISSUES LTD

* FORESIGHT- CO WILL ESTABLISH WHOLLY-OWNED SUBSIDIARY, TRANSFER TO SUBSIDIARY ALL OF CO’S RIGHTS, INCLUDING INTELLECTUAL PROPERTY, FOR NO CONSIDERATION

* FORESIGHT AUTONOMOUS HOLDINGS-CO WILL SPIN OFF ACTIVITIES DEDICATED TO DEVELOPMENT OF EYE-NET ACCIDENT PREVENTION SYSTEM INTO UNIT, THEN MERGE INTO TAMDA Source text for Eikon: Further company coverage:

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