<SEC-DOCUMENT>0001178913-11-001747.txt : 20110817
<SEC-HEADER>0001178913-11-001747.hdr.sgml : 20110817
<ACCEPTANCE-DATETIME>20110615102144
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001178913-11-001747
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20110615

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAMTEK LTD
		CENTRAL INDEX KEY:			0001109138
		STANDARD INDUSTRIAL CLASSIFICATION:	OPTICAL INSTRUMENTS & LENSES [3827]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		INDUSTRIAL ZONE PO BOX 631
		STREET 2:		MIGDAL HAEMEK 011-972-6-644-0521
		CITY:			ISRAEL 10556
		STATE:			L3
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		INDUSTRIAL ZONE
		STREET 2:		MIGDAL HAEMEK ISREAL
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Securities and Exchange Commission</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">100 F. Street, NE</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Camtek Ltd. (the &#8220;Company&#8221;)</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Registration Statement on Form F-3 (&#8220;Form F-3&#8221;)</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Filed May 13, 2011</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">File No. 333-174169</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Dear Mr. Mumford:</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We are transmitting for filing the Company&#8217;s responses to comments received from the staff of the Division of Corporation Finance (the &#8220;Staff&#8221;) of the Securities and Exchange Commission (the &#8220;Commission&#8221;) by letter dated June 7, 2011 (the &#8220;Comment Letter&#8221;) and Amendment No. 1 (the &#8220;Amendment&#8221;) to the Company&#8217;s Form F-3.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have incorporated the Staff&#8217;s comments from the Comment Letter into this response letter and have provided the Company&#8217;s responses below each comment.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Selling Shareholders, page 7</font></font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Given the market value of your shares held by non-affiliates disclosed on the prospectus cover page, it appears you are not eligible to rely on Rule 430B because you are not eligible to use Form F-3 for primary offerings pursuant to General Instruction I.B.1 of Form F-3.&#160;&#160;As such, please amend your registration statement to include all information currently omitted in reliance on that rule, such as the identity of all selling stockholders.</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Response</font>: In response to the Staff&#8217;s comment, the Company has revised the disclosure on page [7] of the Amendment to include all information currently omitted in reliance on Rule 430B.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Please include the signature of a representative of the company in the United States.&#160;&#160;See the instruction 1 to the signatures in Form F-3.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We note the assumptions contained in the last sentence of the third paragraph and the first sentence of the fourth paragraph.&#160;&#160;It is inappropriate for counsel to make assumptions regarding matters of fact and law that are necessary for this opinion or that are readily ascertainable.&#160;&#160;Counsel must examine all documents necessary to make such opinion without these assumptions.&#160;&#160;Please have counsel remove these assumptions and file a revised opinion accordingly.</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Response</font>: In response to the Staff&#8217;s comment, counsel has revised Exhibit 5.1 to remove the referenced assumptions contained in the last sentence of the third paragraph and the first sentence of the fourth paragraph of the opinion and filed a revised opinion accordingly.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Please ask counsel to tell us why the sixth paragraph includes the &#8220;when the shares have been sold&#8221; requirement with respect to the shares to be resold by the selling stockholders, given that it appears those shares should have already been sold to the selling stockholders and such language is unnecessary.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The reference to &#8220;Plans&#8221; appears intended to be a defined term, but no definition appears in the exhibit.&#160;&#160;Please file a revised opinion.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We note the reference to counsel on page 10.&#160;&#160;Please include counsel&#8217;s consent to being named in the registration statement.&#160;&#160;Please also reconcile the portion of the last sentence of the opinion regarding rendering no opinion as to the &#8220;Shares&#8221; with the opinion stated in the third-to-last paragraph.</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company hereby acknowledges that:</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">should the Commission or the Staff, acting pursuant to delegated authority, declare the filing effective, it does not foreclose the Commission from taking any action with respect to the filing;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">the action of the Commission or the Staff, acting pursuant to delegated authority, in declaring the filing effective, does not relieve the Company from its full responsibility for the adequacy and accuracy of the disclosure in the filing; and</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Once the Staff indicates that it has no further comments with regard to the Form F-3, we intend to submit a request for acceleration of the effective date of the Form F-3.&#160;&#160;Please do not hesitate to contact our U.S. outside counsel, Richard H. Gilden, Esq. at 212-715-9486 with any questions or further comments you may have regarding this filing or if you wish to discuss the above response.</font></div>

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