Algaia SA announced that it has signed an investment agreement for private placement of common shares for gross proceeds of €5,000,000 on September 20, 2016. The transaction will include participation from new investor Maabarot Products Ltd. to acquire 40% stake in the company. The transaction is subject to signing definitive agreement between the company and Cargill France SAS for the performance of an additional transaction and the completion of the additional transaction, among others. In the event that the pre-conditions are not fulfilled by January 2017, the investment agreement will be cancelled. Upon completion, a shareholders’ agreement will be signed with following conditions, other investors in company will grant the investor with an option to acquire from them company’s shares as to reach at least 51% stake which will be valid in between 2019-2020, and the investor will grant to other investors a put option for them to sell company’s shares to the investor, which will be valid in between 2020-2023. On December 21, 2016, the company announced that the local regulatory authority in France would not exercise its refusal right regarding the acquisition of the property where the factory of Cargill France SAS is located. The acquisition of Cargill France SAS’s operations is still pending, which is a pre-condition for the completion of this investment.