B.S.D. Crown Ltd Company Update

 
TIDMBSD 
 
BSD Crown Ltd. (LSE: BSD) 
 
                                (the "Company") 
 
                                Company Update 
 
Ramat Gan, 27 October 2015 
 
 B.G.I Investments (1961) Ltd - Submission of a Motion for the Enforcement of 
Pledges and the Appointment of a Receiver by the Trustee of Bondholders (Series 
                                      1) 
 
The Company hereby announces that it has received notification from B.G.I 
Investments (1961) Ltd ("B.G.I"), the Company's controlling shareholder, that 
the Trustee for Bondholders (Series 1) of BGI submitted an ex-parte urgent 
motion to the District Court of Tel Aviv yesterday for the enforcement of 
pledges and the appointment of a receiver over B.G.I. pledged assets. 
 
This motion is based on a vote by the B.G.I Bondholders (Series 1) on 21 
October 2015, to call for the immediate repayment of the outstanding debt of 
the B.G.I Bonds (Series 1) and to instruct the Trustee, following consultation 
with the Trustee's legal counsel and subject to its discretion, to commence 
legal proceedings on behalf of the Bondholders for the protection and 
realization of their rights. 
 
The District  Court of Tel Aviv ruled that there is no basis to grant an 
ex-parte order and ruled that B.G.I must submit a response within seven days. 
B.G.I and its legal counsel are studying the motion submitted and are of the 
opinion that the motion should be dismissed by the Court. 
 
For more information regarding the vote of the B.G.I Bondholders (Series 1) to 
call the outstanding debt of the Bonds (Series 1) for immediate repayment, see 
the reports published by B.G.I on the Tel Aviv Stock Exchange publishing system 
- MAGNA - dated 22 October 2015. 
 
Enquiries: 
 
Emil Budilovsky, Joint CEO, CFO and Company Secretary; [e-mail] 
 
 
 
END 
 

(END) Dow Jones Newswires

October 27, 2015 05:19 ET (09:19 GMT)