8 Feb 2017 13:10
B.S.D. CROWN LTD - Company's shares in public handsB.S.D. CROWN LTD - Company's shares in public hands
PR Newswire
London, February 8
BSD Crown Ltd. (LSE: BSD)
(the “Company”)
Ramat Gan, Israel, 8 February 2017
Company’s shares in public hands
The Company refers to the “Notification of Major Interests in Shares” announcements of 2 and 6 February 2017 as well as to its announcements of 22 and 28 September 2016 regarding the tender offer for shares in the Company by Yossi Willi Management and Investments Ltd (the “Tender Offer”).
Following the acquisition (directly and indirectly) by Mr. Yossi Williger of 7.94% of the Company’s issued and outstanding share capital pursuant to the Tender Offer, and in light of the clarification provided by Mr. Zwi Williger as to the fact that he holds (directly and/or indirectly) 9.996% of the Company’s issued and outstanding share capital, the Company believes that the number of shares of the Company currently held in “public hands” for the purposes of Chapter 14 of the listing rules made under section 74 of the Financial Services and Markets Act 2000 (as amended) (the “Listing Rules”) has fallen to approximately 12.6%, which is significantly below the 25% threshold required (subject to certain exceptions) under Chapter 14 of the Listing Rules .
The Company has informed the Financial Conduct Authority (the “FCA”) of such development and is considering its future actions. Shareholders should be aware that under the Listing Rules, in the event that the percentage of shares in public hands falls below 25 per cent., the FCA has the power to cancel the Company’s listing. If the listing is cancelled there will no longer be an exchange on which the Company’s shares can be readily traded. Trading in the Company’s shares remains currently suspended pending the Company filing its audited accounts.
The Company will provide further updates in due course.
Enquiries:
Gregory Gurtovoy, Chairman of the Board: office@bsd-c.com