7 Jan 2016 12:45
B.S.D. CROWN LTD - Company UpdateB.S.D. CROWN LTD - Company Update
PR Newswire
London, January 7
BSD Crown Ltd. (LSE: BSD)
(the “Company”)
Company Update
Re: Motion for Discovery
Ramat Gan, 7 January 2016
The Company hereby announces that on 6th January 2016 it and BGI Investments (1961) Ltd. ("BGI"), being the Company’s controlling shareholder (the Company and BGI shall be jointly referred to as the “Respondents”), were served with a motion for discovery (the "Motion"), before derivative action, by Mr. Dan Iram (the "Applicant"), who claims to hold 3,100 shares in BGI.
The Motion is requesting the disclosure of certain documents and board minutes relating to certain bank accounts held by the Respondents and their subsidiaries in Austria and Azerbaijan, as well disclosure of certain other documents from the relevant banks.
The Respondents are required to provide a response to the Motion within 30 days and a hearing of the Motion is scheduled to be held on 7th April 2016.
The Company is reviewing the Motion and the claims set out in it in conjunction with its legal counsel. A further announcement will be made in due course.
Enquiries:
Yossi Schneorson, CEO: yossi@bsd-c.com