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TASE Implements R&D Committee Recommendations: Launches TA Tech-Elite Index

 TASE Implements R&D Committee Recommendations: Launches TA Tech-Elite Index  PR Newswire  TEL AVIV, Israel, April 7, 2014  TEL AVIV, Israel, April 7, 2014 /PRNewswire/ --In its 3.4.2014 meeting, the Tel Aviv Stock Exchange (TASE) Board of Directors approved the launch of the TA Tech-Elite index, which will comprise the shares of the leading Technology and Biomed companies. The new index includes companies with a free float of at least 25% and a market cap of at least NIS 400 million. The minimum market cap required from IPO companies for fast track entrance into the index is set at NIS 200 million. The number of constituents in the index is not limited, while the weight cap of a single constituent is set at 10%. It is anticipated that this new index will also be part of the new "Israeli High-tech" index, which will be calculated by an international index vendor and is expected to serve as the underlying asset for various index-tracking products, enabling greater exposure of Israel's high tech industry among foreign investors. There are currently 34 companies eligible for inclusion in the TA Tech-Elite index, 23 of which are Technology companies and 11 Biomed companies. The cumulative float-adjusted market cap of these companies exceeds NIS 45 billion.  Tel Aviv Stock Exchange Logo  The index is scheduled for launch on 11 May 2014.  The launch of this index constitutes the first step in implementing the recommendations of the Committee to Promote Investment in Public Companies Engaged in R&D, which examined ways to encourage the listing of technology companies on TASE.  Along with the launch of the new index the board also decided to expand the TA BlueTech-50 index into the TA-BlueTech index, a composite share price index comprising all constituents of the TA-Technology and TA-Biomed indices, without limitations on the number of index constituents, starting 15 June 2014 (the upcoming rebalancing date for TASE share price indices). It is expected that 7 companies, with a combined market cap of NIS 950 million will join the TA-BlueTech index as a result of this revision.  Robby Goldenberg, Senior Vice President and Head of the Trading and Derivatives Department remarked: "The launch of the TA Tech-Elite index is yet another measure undertaken by TASE to broaden the spectrum of financial products it offers the public, in accordance with market needs. The new index is expected to focus attention on large technology and biomed companies, render the listing of high tech companies on TASE more compelling and improve the liquidity of high tech shares."  According to Hani Shitrit, Senior Vice President, Head of the Economic Department and the person chairing the Committee to Promote Investment in Public Companies Engaged in R&D, "The Israel Securities Authority and TASE have started to implement the committee's recommendations and are currently initiating the required legislative amendments." The launch of the TA Tech-Elite index, the "Israeli High-tech" index and the promotion of market research on listed companies will improve market efficiency and increase the exposure of institutional, retail and foreign investors to Israeli high tech companies."  A list of potential TA Tech-Elite constituents follows:  Link to R&D committee recommendations  No. TASE ID Company Name                  Market Cap Free Float Weight     NO. 1   273011  Nice                          9,069       8,565      10.00% 2   1129543 Opko Health                   12,678      6,518      10.00% 3   1081124 Elbit Systems                 9,062       4,903      10.00% 4   1082544 EZchip Semiconducters         2,599       2,392      6.35% 5   1123017 LivePerson                    2,266       1,630      4.33% 6   1085208 Compugen                      1,674       1,610      4.28% 7   260018  Ormat                         3,011       1,540      4.09% 8   1099654 Allot Communications          1,626       1,482      3.94% 9   1094119 Kamada                        1,868       1,379      3.66% 10  1106855 Mazor Robotics                1,670       1,290      3.43% 11  1105055 Evogene                       1,680       1,274      3.38% 12  1082692 Silicom                       1,550       1,180      3.14% 13  1095819 Perion Network                2,583       1,000      2.66% 14  1120609 Protalix                      1,571       946        2.51% 15  1082379 Tower Semiconductor           1,481       929        2.47% 16  1084557 Nova Measuring Instruments    1,083       895        2.38% 17  256016  Formula Systems               1,568       838        2.23% 18  1121730 PluristemTherapeutics        833         770        2.05% 19  1082965 Audiocodes                    962         681        1.81% 20  1087659 Sapiens International         1,325       676        1.80% 21  1082312 Magic Software Enterprises    1,222       672        1.78% 22  1126226 Photomedex                    1,126       654        1.74% 23  445015  Matrix IT                     1,231       610        1.62% 24  1100718 Brainsway                     872         523        1.39% 25  749077  Elron Electronic Industries   1,010       497        1.32% 26  1082510 Gilat Satellite Networks      739         461        1.22% 27  1104280 Clal Biotechnology Industries 1,477       431        1.15% 28  1085166 Ceragon Networks              548         430        1.14% 29  1084698 Hilan                         617         322        0.85% 30  1122381 Redhill Biopharma             434         314        0.83% 31  1091065 Maytronics                    823         283        0.75% 32  1091651 Arad                          768         230        0.61% 33  1102458 Medical Itamar                420         224        0.60% 34  161018  One Software Technologies     620         194        0.51%                                                                                                             72,066      46,342                                                                  100%  For more information please contact:  Idit Yaaron or Orna Goren, TASE, +972 (3) 5677 405/6  Visit the Tel Aviv Stock Exchange's Website: www.tase.co.il  Logo - http://photos.prnewswire.com/prnh/20130117/588933  SOURCE Tel Aviv Stock Exchange  Website: http://www.tase.co.il  
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