B.S.D. Crown Ltd Company Update

 
TIDMBSD 
 
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; [e-mail] 
 
 
 
END 
 

(END) Dow Jones Newswires

October 21, 2015 02:19 ET (06:19 GMT)