Jasmine continues to seek shareholder information from Aladdin Knowledge Systems

By Lisa Kerner

Charlotte, N.C., Sept. 11 - Aladdin Knowledge Systems Ltd. shareholder Jasmine Holdco LLC demanded the company provide it information regarding the company's beneficial shareholders.

Jasmine believes Aladdin is precluding the investor from communicating with other Aladdin shareholders.

"The very fact the company does not have, or refuses to share accurate shareholder lists, strongly suggests either an indifference to maintaining close relationships with their owners or an unwillingness to maintain an even playing field," Jasmine spokesperson David Fishman said in a Sept. 9 letter to the company, which was included in a news release.

"Along with equal access to accurate shareholder information, we would hope that the company would provide shareholders with the strategic plan that supposedly provided the basis for its board's rejection of our proposals," Fishman added.

Jasmine proposed acquiring Aladdin for $13 per share in cash as well as an alternative proposal to acquire Aladdin's digital rights management business for $125 million to $135 million in cash.

Previously, Jasmine asked Aladdin to call an extraordinary general meeting of shareholders to replace three of Aladdin's directors with independent board representatives.

The independent nominees are seeking a sale of Aladdin to the highest bidder with terms favorable to shareholders, the release said.

Israeli law requires Aladdin to call the meeting by Sept. 18 and to hold the meeting by Oct. 23, Jasmine said.

Aladdin, based in Petach Tikva, Israel, provides security solutions that reduce software theft, authenticate network users and protect against spam and viruses.

Jasmine is a Vector Capital portfolio company and an affiliate of Aladdin competitor SafeNet, Inc.

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