1 Apr 2016 10:20
B.S.D. CROWN LTD - Company UpdateB.S.D. CROWN LTD - Company Update
PR Newswire
London, April 1
BSD Crown Ltd. (LSE: BSD)
(the “Company”)
Company Update
Ramat Gan, 1 April 2016
Further to the Company’s announcement on 17 March 2016 (the “17 March Announcement”) the Company hereby announces that on 30 March 2016, BGI repaid the balance of the amounts owing to the Bondholders (including interest and principal payments), other than in respect of outstanding fees and expenses of the Trustee and its legal counsel which total approximately NIS 500,000 (the “Outstanding Amounts”).
On 28 March 2016, the District Court of Tel Aviv (the “Court”) ruled that the Trustee be authorised to sell, on behalf of BGI, such number of ordinary shares of the Company held by BGI and which have been pledged in favour of the Trustee, on behalf of the Bondholders, in order to repay the Outstanding Amounts in the event the Outstanding Amounts are not repaid by 12 April 2016.
Terms used but not defined in this announcement are as defined in the 17 March Announcement.
The Company will provide further updates.
Enquiries:
Yossi Schneorson, CEO: yossi@bsd-c.com