Stakeholder in Hav Security: Uzi Katz, who hid an indictment and was expelled from Telit

by time news

The Israeli Technology Company Father Security advancing on the way to Wall Street, and in the meantime reporting on a new and surprising interested party. Uzi Katz, who was previously the CEO of the technology company Tallit and was forced to resign after it was discovered that he hid an indictment against him in the US, now owns 5% of the parent’s shares, after purchasing shares in transactions on the Tel Aviv Stock Exchange. The transaction that made him an interested party was carried out this week, when he purchased 60 thousand shares at a price of NIS 6.47 per share, for a total of about NIS 388 thousand. As far as is known, Katz is a private investor and has no connection to the company itself.

Hav Security, under the management of Eyal Moshe, provides cyber security solutions. The company, which became a public company in Tel Aviv when it was merged with the stock exchange ALD last year, announced a few months ago a merger with a SPAC company in the United States at a value of approximately 1.3 billion dollars. However, it currently trades at a significantly lower value on the Tel Aviv Stock Exchange – approximately NIS 739 million ($215 million at the current exchange rate), so assuming the merger is completed successfully, those who currently purchase its shares will enjoy a respectable upside. Recently, at the company’s request, the court confirmed that its shares will be delisted from trading on the Tel Aviv Stock Exchange at the same time as trading on Nasdaq begins. The company is now awaiting final approvals from the SEC (United States Securities and Exchange Commission) to complete the merger with the SPAC.

Uzi Katz made headlines in 2017, when a website in England, shareprophets – where the Tallit company he managed was traded – revealed that in the early 1990s Katz was indicted in the United States for mortgage fraud, and Katz never told about it. The disclosure also revealed that Katz even changed the spelling of his name in English, from Uzi Katz to Oozi Cats.

Following the publication, Tallit formed an investigation team that quickly reached conclusions that corroborated the publication, and Katz was forced to resign as CEO. Several years later, regardless of his departure, Tallit was sold, and its shares were delisted from trading on the London Secondary Exchange (AIM). Before the sale was completed, speculation arose. according to which Katz will prevent the sale and may try to regain control of Tallit himself.

According to the new report on his holding in Hav Security shares, Katz’s current address is in St. Moritz, Switzerland. Katz (61) was born and raised in Haifa, and after his discharge from the army he began to study economics and accounting, but left without completing his degree and moved to live with his wife in the USA. Later they returned to Israel and Katz initiated the establishment of the Auto Depot chain. After several years, he founded Dai as part of the Polar company Telecom, which was engaged in the import of cell phones from South Korea, then began to look for new opportunities within Polar, and located the Italian Telit, which provided services to telecommunications companies. In the following years, he purchased from Polar and the capital market a percentage of the ownership of Telit, and changed the company’s activities to the field of M2M, communication between machines.

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