B.S.D. Crown Ltd BSD Crown Ltd (The "Company")

 
TIDMBSD 
 
BSD Crown Ltd. 
 
                                (The "Company") 
 
                                   (LSE: BSD) 
 
                         BSD Crown Ltd (The "Company") 
 
                                                       Ramat Gan, 12 April 2021 
 
Further to the announcements made by the Company on June 22, 2018 and January 
15, 2019 ("Prior Announcements"), the Company hereby updates the market that 
Israel 18 B.V., a privately held Netherlands company ("Israel 18"), and Mr. 
Alexander Avdeev ("Mr. Avdeev", and together with Israel 18, the "Defendants") 
have been found by the Central District Court of Israel (the "Court") to be in 
violation of court orders relating to discovery proceedings. In connection 
thereto, the Court removed the Defendants' statements of defense filed as part 
of the litigation proceedings described in the Prior Announcements. Further to 
the above, on March 18, 2021 and March 30, 2021, in ex parte rulings, a verdict 
in the sum of NIS 173,447,815 (plus indexation differences and interest from 
the date of the verdict) was imposed against Israel 18 and a verdict in the sum 
of NIS 164,389,764 (plus indexation differences and interest from the date of 
the verdict) was imposed against Mr. Avdeev. The Company believes that it is 
very unlikely that it will be successful in collecting the awarded amounts. 
 
The Company has a lien on 3,500,000 shares of the Company held by Israel 18 in 
connection with the enforcement of verdicts relating to these proceedings, but 
to the best of the Company's knowledge, certain of those shares may be subject 
to other liens in favor of an unrelated third party. 
 
Enquiries: Joseph Williger 
 
Active Chairman of the Board 
 
 
 
END 
 
 

(END) Dow Jones Newswires

April 12, 2021 06:24 ET (10:24 GMT)