14 Nov 2016 15:11
B.S.D. CROWN LTD - A Motion against Tender offer for shares in the CompanyB.S.D. CROWN LTD - A Motion against Tender offer for shares in the Company
PR Newswire
London, November 14
BSD Crown Ltd. (LSE: BSD)
(the “Company”)
A Motion against Tender offer for shares in the Company and the appointment of Mrs. Hilla Gerstal according to court decision
Ramat Gan, Israel, 14 November 2016
A Motion against Tender offer for shares in the Company
Further to the Company announcement dated 22 September 2016, regarding Yossi Willi Management and Investments Ltd's (“YWMI”) cash offer (the "Offer") to holders of ordinary shares in the capital of the Company to acquire not less than six (6) per cent. and up to twenty (20) per cent. of the voting rights of the Company, subject to the terms and conditions of the Offer, the Company hereby announce that the Company and BGI Investments (1961) Ltd. ("BGI" and together the "Companies") filed a motion and a request to temporary relieves (the "Motion") against Joseph and Zvi Willigers and controlled companies (the "Williger Brothers"). According to information that the Companies hold, and according to section 328 to the Israeli companies law, the Williger Brothers should file only a special tender offer under Israeli Companies Law.
In the motion, the Companies ask the Israeli court, among others, to determine that, according to Professor Ehud Kamar's opinion, the Williger Brothers should be considered as one holder in Company's shares. In addition, to determine that the tender offer, filed by YWMI, is not valid and would need to be revised to comprise a special tender offer under Israeli Companies Law.
Appointment of Mrs. Hilla Gerstal according to court decision
Further to Company announcement dated 25 July 2016, with respect to the nomination of the retired judge, the Company herby announces that the Company board reached agreement with Mrs. Hilla Gerstal, for her immediate appointment. Mrs. Gerstel's appointment is following agreement reached between the Company and its shareholders, as approved by the Israeli district court.
Enquiries:
Gregory Gurtovoy, chairman of the board: office@bsd-c.com