BSD.L Regulatory News (BSD)

B.S.D. CROWN LTD - Company Update

PR Newswire

London, October 21

 BSD Crown Ltd. (LSE: BSD)

(the “Company”)

Company Update

Ramat Gan, 21 October 2015

Court Ruling Regarding the Motion for the Liquidation and Appointment of Temporary Liquidators over the Company’s Controlling Shareholder - Israel 18 BV

Further to the Company's announcement from yesterday regarding an urgent motion filed against its ultimate controlling shareholder (through direct and indirect holdings) Israel 18 BV ("Israel 18"), the Company hereby announces that it was notified by Israel 18 that at the hearing held yesterday at the District Court of Haifa, Israel 18 informed the Court of its intent to pay the amounts past due in accordance with the existing agreements with the Applicants no later than by 29 October 2015. Israel 18 further committed not to carry out any disposition of any of its assets nor of those of any of its subsidiaries in its capacity as a shareholder in them until the aforesaid payments have been made (this undertaking is entrenched in the Court Ruling). Accordingly, the Court denied the motion for the appointment of temporary liquidators. The hearing will recommence on 4 November 2015.

Enquiries:

Emil Budilovsky, Joint CEO, CFO and Company Secretary; Emil@bsd-c.com