Termination of CEO’s management services agreement

B.S.D. CROWN LTD - Termination of CEO’s management services agreement

PR Newswire

London, August 25

BSD Crown Ltd. (LSE: BSD)

(the “Company”)

Termination of CEO’s management services agreement

Ramat Gan, Israel, 25 August 2016

Further to the Company's announcement of 15 July 2016 regarding Israel Yosef Schneorson’s decision to step down from his post as CEO with effect from 31 October 2016, the Company hereby announces that the Board of Directors notified Mr. Schneorson, on 24 August 2016, that his management services agreement with the Company is terminated with immediate effect in light of the latest events as the Company published in the last months. Consequently he will cease to act as the Company CEO from that date. On the basis of legal advice from the Company’s Israeli lawyers, no further details can be given at this stage.

The Board will make an announcement about a replacement in due course. 

Enquiries:

Gregory Gurtovoy, Chairman of the Board: office@bsd-c.com