<PAGE>
Exhibit 3.1
Companies Ordinance
Private Company Limited in Shares
Memorandum of Association
of
CAMTEK LIMITED
1. NAME OF COMPANY
Camtek Limited
2. PURPOSES OF THE COMPANY
The purposes for which the Company was established are:
(a) To deal in the manufacture and marketing of industrial
machines in Israel and in any other part of the world.
(b) The Company shall be empowered to hold any right, duty or
liability, and to make any legal act, whether made, acquired
or created for the purposes above or made acquired or created
for the purposes of or in the course of any action which in
the absolute discretion of the management of the Company, are
aimed at advancing the business of the Company in any other
fashion.
3. LIABILITY OF MEMBERS
The liability of the member is limited.
4. SHARE CAPITAL
(a) The share capital of the Company is NIS 2,000, divided into
1,000 ordinary shares of par value NIS 1 each, and 100
management shares of NIS 10 each.
(b) The rights associated with the shares of any type in the
Company may be modified as shall be provided in the Articles
of Association of the Company.
(c) The Company shall be entitled to increase its capital at any
time it sees fit. The Company is entitled to combine and/or
split the original and/or increased share capital of the
Company, into different types of preferred shares, deferred
shares, shares carrying identical rights or any other kind of
rights, whether thereby increasing or derogating from the
rights associated with the shares.
<PAGE>
We the undersigned, our addresses and names appearing below, wish to be
incorporated into a company in accordance with this Memorandum of Association,
and we agree - and every one of us agrees - to accept the number of shares in
the Company listed beside our names below.
<TABLE>
<CAPTION>
-------------------- ---------------- ---------------------------- ----------------------------------- ---------------
Signators' Description Address Number of Ordinary Signature
Names Shares per value NIS 1.0
Accepted by each signator
-------------------- ---------------- ---------------------------- ----------------------------------- ---------------
<S> <C> <C> <C> <C>
Zvi Neter Electronics 35 Afikim Way 1
ID 175809 Engineer Haifs
Yotam Stern Economist 28 Kiryat Amal Rd. 1
ID 5139200 Kiryat Tivon
Date: October 21, 1987 Witness to Signatures: Yisrael Perry, Adv.
67 Frishman St., Tel Aviv
Tel. 5440666
</TABLE>
2
