Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
CAMTEK LTD.
(Translation of
Registrant’s Name into English)
Ramat Gavriel Industrial Zone
P.O. Box 544
Migdal Haemek 23150
ISRAEL
(Address of Principal Corporate Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities and Exchange Act of 1934.
Yes o No x
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| CAMTEK LTD. (Registrant) By: /s/ Ronit Dulberg —————————————— Ronit Dulberg, Chief Financial Officer |
Dated: April 7, 2008
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The Company’s parent Company, Priortech Ltd (“Priortech”), which is a publicly traded company on the Tel-Aviv Stock Exchange, is required to implement, as of January 1, 2007, a new accounting standard (Accounting Standard No. 30 of the Israel Accounting Standard Board which was published in March 2007 (the “Standard”)).
Details regarding the Standard and its implementation, as reflected on Priortech’s consolidated statement for March 30, June 30 and September 30, 2007, were given in the Company’s three previous reports concerning the Standard, dated June 3rd, September 3rd and November 28th, 2007.
The net amount of capitalized development expenses reflected on Priotech’s consolidated statement for December 31, 2007 is NIS 28,289 thousands or US$ 7,355 thousands.
Another item of disclosure on Priortech’s reports reflects the fact that on March 31, 2007, Camtek opened forward positions in US Dollars on the NIS exchange rate. The opened forward positions as of December 31, 2007, are displayed in the following table:
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| Amount |
Repayment date |
Transaction date |
Exchange Rate NIS/US$ |
Fair Value |
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $ | (700,000 | ) | 31.01.08 | 06.12.07 | 3.84 | NIS | 4,695 | |||||||||||||
| $ | 700,000 | 31.01.08 | 06.12.07 | 3.84 | NIS | (319 | ) | |||||||||||||
| $ | 700,000 | 28.02.08 | 06.12.07 | 3.84 | NIS | (997 | ) | |||||||||||||
| $ | (700,000 | ) | 28.02.08 | 06.12.07 | 3.84 | NIS | 6,805 | |||||||||||||
| $ | 700,000 | 27.03.08 | 11.12.07 | 3.84 | NIS | (1,157 | ) | |||||||||||||
| $ | (700,000 | ) | 27.03.08 | 11.12.07 | 3.84 | NIS | 12,958 | |||||||||||||
| $ | 700,000 | 28.04.08 | 11.12.07 | 3.84 | NIS | (813 | ) | |||||||||||||
| $ | (700,000 | ) | 28.04.08 | 11.12.07 | 3.84 | 19,266 | ||||||||||||||
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