BSD Crown Ltd. (LSE: BSD)
Update in relation to court procedures
Ramat Gan, Israel, 26 September 2016
Further to the Company's announcement dated 15 September 2016 regarding the ongoing case taking place before the Economic Department in Tel-Aviv District Court (the "Court") between Mr. Naftali Shani and Adv. Arnon Gicelter (the "Petitioners") and Israel 18, Israel 18 notified the court and the Company that it signed a loan agreement with Ta'aman Food Marketing Ltd ("Ta'aman") who will provide a loan to Israel 18 (the "Loan") for the purpose of repaying the entire debt that Israel 18 owes to the Petitioners, subject to receiving Court approval as to the terms of the Loan.
The Company will provide an update in due course following the Court’s consideration of the terms of the Loan and the agreement entered into in connection with it (including in relation to any security proposed to be given in connection with it).
Gregory Gurtovoy, chairman of the board: [email protected]