Share and debt buyback plan for 2019

December 31, 2018 at 5:20 PM IST

Share and debt buyback plan for 2019

Tel Aviv, December 31, 2018. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”)  announces an NIS 100 million buyback plan for the whole of 2019, which will encompass both the Company’s debt and equity. Details of the plan are as follows:

1. Acquiring entity:  Delek Financial Investments 2012, LP (a 100% owned subsidiary of Delek Group).
2. Securities to be acquired under to buyback plan:

  1. Delek Group shares (traded on the Tel Aviv Stock Exchange under the ticker DLEKG).
  2. Delek Group bonds (series 13, 18, 19, 22, 31, 34, traded on the Tel Aviv Stock Exchange).

3. Date of commencement of the buyback plan:  1 January 2019
4. Implementation of the buyback plan: From time to time, subject to management discretion.
5. Total period for implementation of the buyback plan: From 1 January 2019 to 31 December 2019.
6. Date of approval of the buyback plan by the Board of Directors: 27 December 2018
7. Total estimated value of the buyback plan: NIS 100,000,000
8. Tax implication of the buyback plan on the Company and on security holders: The Company estimates that purchasing shares or bonds does not create any tax liability for the Company. The Company has no information regarding any possible tax liabilities the buyback plan may have for bond holders.
9. Source of funds for implementation of the buyback plan: Purchases will be funded through one or more of the following options , as judged appropriate at the time: using the funds of a Company subsidiary; using the Company’ s own funds; using credit issued by banks;  any and all other options.
10. Manner of implementation of the buyback plan:  The Board of Directors has authorized the Company’s management to pursue, at the latter’s discretion, the implementation of the buyback plan, according to the outline specified in the Board of Directors’ resolution. Decisions regarding the purchases, purchase price, timing, and manner of purchase (through the Tel Aviv Stock Exchange or off-market transactions) will be made at the discretion of management.
11. Details of buyback plans decided upon in the past three years:


Date

Period of implementation

Total value authorised

Total value purchased (approximate)

 10 May 2015

NA

NIS 70m

NIS 67m (96%)

 22 December 2015

1 year

NIS 100m

NIS 69m (69%)

 24 October 2017

2 months

NIS 100m

NIS 51m (51%)

 25 June 2018

6 months

NIS 50m

NIS 36m (72%)

This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on December 31, 2018.


About The Delek Group

Delek Group is an independent E&P and the pioneering visionary behind the development of the East Med. With major finds in the Levant Basin, including the Leviathan (21.4 TCF) and Tamar (11.2 TCF) reservoirs and others, Delek is leading the region’s development into a major natural gas export hub. In addition, Delek has embarked on an international expansion with a focus on high-potential opportunities in the North Sea and North America. Delek Group is one of Israel’s largest and most prominent companies with a consistent track record of growth. Its shares are traded on the Tel Aviv Stock Exchange (TASE:DLEKG) and are part of the TA 35 Index.
For more information on Delek Group please visit www.delek-group.com


Contact

Investors

Yonah Weisz
Head of Investor Relations
Delek Group Ltd.
Tel: +972 9 863 8443
investor@delek-group.com