Jasmine Holdco's stake in Aladdin Knowledge reaches 13.99%

By Lisa Kerner

Charlotte, N.C., Sept. 17 - A group of Aladdin Knowledge Systems Ltd. investors led by Jasmine Holdco LLC increased their ownership interest to 13.99% from 12.63%.

Jasmine reported the purchase of 188,764 shares between Sept. 3 and Sept. 17 at prices from $12.62 to $13.09 per share in a schedule 13D filed with the Securities and Exchange Commission.

Last week, Jasmine asked the company to provide it with information regarding Aladdin's beneficial shareholders. Jasmine had asked Aladdin to call an extraordinary general meeting of shareholders to vote on Jasmine's slate of nominees for election to Aladdin's board.

The board rejected Jasmine's proposal to acquire the company for $13.00 per share in cash in the belief that the offer significantly undervalues the company, it was previously reported.

In addition, Aladdin's board determined that Jasmine's alternative proposal to buy the company's digital rights management business for $125 million to $135 million was not in the best interest of Aladdin shareholders, a prior news release said.

The investors beneficially own approximately 1.94 million shares of the Petach Tikva, Israel-based company.

Aladdin provides security solutions that reduce software theft, authenticate network users and protect against spam and viruses.

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