Kimberly Enterprises N.V. Update re Controlling Shareholder (6646O)

TIDMKBE

RNS Number : 6646O

Kimberly Enterprises N.V.

22 August 2017

Kimberly Enterprises N.V.

("Kimberly" or the "Company")

Update re Controlling Shareholder

On August 21, 2017, the Company received notification from the controlling shareholder of the Company, Engel Resource and Development Limited ("ERD"), which controls 68.35% of the issued share capital of the Company, of a conditional share transfer agreement between GBES Limited ("GBES") and Gabay Europe Israel Limited ("Gabay Europe") and Mr. Eli Gabay (the "Agreement") in respect of ordinary shares in ERD. Gabay Europe is 100% owned by Mr Gabay.

According to the Agreement, Gabay Europe will acquire from GBES a total of 1,738,088 ordinary shares of NIS 1.00 each in ERD (representing 32.1% of the voting rights of ERD), subject to the fulfilment of a number of preconditions set out in the Agreement.

In the event that the conditions are met and the Agreement is completed, Mr Eli Gaby (through Gabay Europe) will control 3,408,015 ordinary shares in ERD representing approximately 63% of the voting rights of ERD.

A further announcement will be made in due course.

For further information, please contact:

 
Kimberly Enterprises N.V. 
Sagee Kadosh                    [phone] 
 
 
Cairn Financial Advisers LLP 
 (Nomad) 
Sandy Jamieson, James Caithie   [phone] 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 22, 2017 06:10 ET (10:10 GMT)