PR Newswire
London, March 24
B.S.D Crown Ltd (LSE:BSD) ("BSD" or "the Company") Controlling shareholder announcement Tel Aviv, Israel, 24 March 2015 Controlling shareholder announcement The Company refers to an announcement made yesterday in Israel by BGI Investments (1961) Ltd. ("BGI") (which beneficially owns Company shares representing approximately 25.02% of the total issued and outstanding share capital of the Company (excluding dormant shares) and controls in aggregate, directly and through proxies, approximately 44% of the voting rights in the Company). Capitalised terms used but not defined herein shall have the meanings given to them in the Company's announcements of 3 and 25 February, 2015. On 24 February, 2015, Public Joint Stock Company Alfa Bank ("Alfa"), a Ukrainian banking entity, submitted a request to the Tel Aviv District Court (the "Court") to attach certain assets as well as direct and indirect holdings of the Company's ultimate controlling shareholder, Alexander Granovsky. This request was submitted as part of a claim filed by Alfa against Mr. Granovsky and others with respect to alleged debts owing by them to Alfa. The defendants have yet to file a statement of defence in said claim. Following hearings in this respect, the Court handed down judgment partially in Alfa's favour on 22 March, 2015 and decided that, inter alia, subject to the condition set out below: * Mr. Granovsky, Israel 18, Israel 180 and Orot Israel may not dispose or otherwise grant security over any of their holdings respectively, including their direct holdings in the Company pending final judgment of the Court; * the Loan Amount shall remain in escrow pending final judgment of the Court; and * pending a further hearing, the parties to the dispute should disclose all relevant documentation giving rise to rights in the capital or payment of monies owing by Mr. Granovsky or his direct and indirect holdings in Israel. The orders above shall lapse upon failure by Alfa to provide an autonomous bank guarantee from an Israeli bank by no later than 29 March 2015 at 12.pm (Israeli time) in an amount of thirty million New Israeli Shekels (NIS 30 million) in escrow as guarantee to cover any damages to third parties which may be affected by such orders should Alfa's claim ultimately fail. The Company will update the market in respect of further developments with regards to above, as appropriate. Further information about the Company For more information about the Company, visit www.bsd-c.com.
Enquiries: Eyal Merdler, CFO: eyal.merdler@bsd-c.com
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