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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gold Frost | LSE:GLF | London | Ordinary Share | IL0010952989 | ORD ILS0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.10 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
25 June 2007 Gold Frost Limited ("Gold Frost" or the "Company") GOLD FROST ANNOUNCES STRATEGIC INVESTMENT IN WILLI-FOOD INVESTMENTS Zwi Williger to Continue Management of Gold Frost; Expansion Strategy to Remain on Track Gold Frost (LSE:GLF.L), the designer, developer and distributor of kosher chilled, frozen and dairy food products, announces that Zwi and Joseph Williger, majority owners of Willi-Food Investments Ltd. (TASE: WLFD) ("Investments"), the indirect principal shareholder of Gold Frost, have signed a share purchase agreement to sell an aggregate of 3.9 million shares of Investments, constituting approximately 45% of the currently outstanding shares of Investments, to Arcadi Gaydamak, an international businessman, for an aggregate purchase price of NIS171.3 million ($40.5 million) (the "Sale"). The transaction is subject to the approval of the Israeli Anti-trust authorities. The transaction is expected to be executed at NIS 43.84 ($10.36) per share, representing a 70% premium over the market price of Investments on 22 June 2007, the day of signing. In accordance with the agreement, Zwi Williger is proposing to sell approximately 30.5% of the outstanding shares in Investments, leaving him with approximately 8% of the outstanding shares; and Joseph Williger is proposing to sell his entire holdings in Investments. Following completion of the transaction, Zwi Williger is to continue to act as CEO of Investments and its subsidiaries, including Gold Frost. Zwi Williger commented: "Our commitment to G.Willi-Food International and Gold Frost remains as strong as ever. We have built one of the most significant Kosher food companies in Israel and are rapidly expanding our presence in international markets. We are focused on driving long-term, profitable growth by capitalizing on our expertise in product innovation and expanding distribution channels both domestically and internationally." Mr. Gaydamak is well-known philanthropist and the primary shareholder of several public companies in Israel including Ocif Investment & Development Ltd., Petro Group Ltd. and Gilon Investments (1979) Ltd. Investments have a 62.3 per cent. interest in G. Willi-Food International Ltd, the immediate parent company of Gold Frost. G. Willi-Food International Ltd has an interest in 40,000,000 ordinary shares of the Company, representing 75.7 per cent. of the total voting rights of Gold Frost. Prior to the Sale, Zwi and Joseph Williger's interest in the Company is as below: Total indirect % of indirect interest in interest in Gold Frost Gold Frost Zwi Williger 9,704,771 18.36% Joseph Williger 3,598,426 6.81% Following the Sale, Zwi and Joseph Williger's interest in the Company is as below: Total indirect % indirect interest in interest in Gold Frost Gold Frost Zwi Williger 2,131,170 4.03% Joseph Williger 0 0.0% Enquiries: Gold Frost Ltd Zwi Williger, Chief Executive Officer +972 544 324924 Blue Oar Securities Plc +44 207 448 4400 Rhod Cruwys / Luke Ahern Notes to Editors: Gold Frost is a designer, developer and distributor of branded kosher dairy food products with 20 varieties of products currently on sale in Israel. The Company possesses proven R&D capability for "koshering" chilled, frozen, diary and other products, a number of which have a health advantage by virtue of being low in fat and cholesterol. END
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