·       The exercise period of warrants cannot exceed four years.

    ·       There is no minimum requirement for the value of public holdings.

    ·      A limit number of warrants series that can be issued applies to small companies, with a low value of public holdings:

Series of registered warrants issued only to employees are not counted.

     ·    The TASE rules lay down a NIS 24 million minimum required value of public holdings in convertible bonds. If the conversion rate is not more than 7% per year of the price of the underlying shares – the bonds are on the “equity track” and the minimum required value of public holdings is NIS 12 million.

If the conversion rate is more than 7% per year of the price of the underlying shares, the company must also comply with the shareholders’ equity requirement applicable to companies issuing ordinary bonds.

     ·    The terms of the convertible bonds may specify conditions under which the company is entitled to force their redemption.