B.S.D. Crown Ltd Update in relation to the proposed tender offer

 
TIDMBSD 
 
BSD Crown Ltd. (LSE: BSD) 
 
                                (the "Company") 
 
                Update in relation to the proposed tender offer 
 
                                           Ramat Gan, Israel, 21 September 2016 
 
Further to the Company's announcement dated 6 September 2016, the Company's 
board of directors asked Professor Ehud Kamar of Tel-Aviv University to opine 
on whether or not Zvika Williger and his brother Yossi Williger should be 
considered as joint holders according to Israeli Companies Law in the context 
of the tender offer by Yossi Willi Management and Investments Ltd ("YWMI"). 
Having examined the facts Professor Kamar has concluded that Joseph and Zvika 
Williger should be considered as one holder. The Company's board of directors 
has resolved to adopt the opinion received. 
 
Notwithstanding the above, given that the aggregate shareholdings of the 
Williger brothers when combined with the total number of shares offered to be 
acquired under the tender offer made by YWMI do not exceed 45% of Company's 
issued share capital, the Board is not required to consider the need for a 
special tender offer. In the event that Zvika Williger is successful in the 
auction process relating to the possible sale of the shares in the Company held 
by Mr. Naftali Shani and Adv. Arnon Gicelter, referred to in the Company's 
announcement dated 15 September 2016, the Company will consider whether or not 
there is a need to  reconsider this requirement in light of  their revised 
shareholdings. 
 
Enquiries: 
 
Gregory Gurtovoy, chairman of the board: [e-mail] 
 
 
 
END 
 

(END) Dow Jones Newswires

September 21, 2016 10:47 ET (14:47 GMT)