BSD B.s.d Crown Ltd

 
TIDMBSD 
 
B.S.D CROWN Ltd (LSE:BSD) 
                                (the "Company") 
 
                        Ramat Gan, Israel, 22 July 2019 
 
                                Company Update 
 
Further to the information set forth in Note 18(A)(1) to the consolidated 
financial statements of the Company as of 31 December 2018 (as published on 28 
March 2019) in respect of a claim that was filed in connection with the 
bankruptcy of Mr. Eli Reifman, one of the founders and a former director of the 
Company, against the Company and certain of its former directors and officers, 
the Company hereby notifies that it has received a decision of the Israeli 
Central District Court dated 19 July 2019, in which the Court accepted 
partially the claims against the Company and certain of its former directors. 
Based on the arrangement between the Company and its Directors & Officers 
insurer, the Company's participation in the payment is NIS 6,185,000, linked to 
the CPI + interest from the date on which the claim was filed plus NIS 730,000 
to cover legal expenses of the parties. 
 
The Company is reviewing the court decision and believes that it includes 
certain legal inaccuracies. Therefore, the Company is considering filing an 
appeal with the Israeli the Supreme Court, as well as a request to delay the 
execution of the foregoing court decision. 
 
Enquiries: 
 
Joseph Williger, Active Chairman Yossi@ydekel.co.il 
 
 
 
END 
 

(END) Dow Jones Newswires

July 22, 2019 02:00 ET (06:00 GMT)

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