Tel Aviv, March 15, 2020. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces further to the Company’s Immediate Report this morning (ref. no. 2020-01-024360) (“the Original Report”), as follows:
- The injunction received as detailed in the Original Report also applied to the Tel-Aviv Stock Exchange Ltd (“TASE”) to refrain from clearing and/or facilitating in any way implementation of a transaction for the sale of participation units of Delek Drilling Limited Partnership (“Participation Units”) by the foreign bank and/or any party acting on its behalf, in the event that the transaction is carried out through the TASE. Further to contacts by representatives of the TASE that the TASE is unable to specifically identify the realization of the Participation Units pledged to the foreign bank, the Company filed an urgent petition with the District Court that the injunction not be directed at the TASE itself, but rather at the stock exchange member of the foreign bank, in order to prevent it from carrying out a sales transaction of the Participation Units. The Court has accepted this clarification.
- Delek Energy Systems Ltd (“Delek Energy”) received a notice this morning from the foreign bank against which the temporary injunction was issued, that the foreign bank had entered into an agreement subject to removal of the injunction or any other injunction issued in favor of Delek Energy or its associate company in any jurisdiction, for the sale of 142,341,547 Participation Units (12% of the Partnership's capital) in an amount equal to the balance of the loan of USD 57 million, representing a price materially lower than the market price as fixed on the last trading day preceding the transaction (“the Conditional Transaction”). Delek Energy strongly objects to the validity of the Conditional Transaction and its legality, and it will continue to act with all the means at its disposal to ensure that it will become null and void, as also stated in the Original Report.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on March 15, 2020.
About The Delek Group
Delek Group is an independent E&P and the pioneering visionary behind the development of the naturel gas reservoirs in 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 been expanding internationally with a focus on high-potential opportunities in the North Sea. 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
Head of Investor Relations
Delek Group Ltd.
Tel: +972 50 523 9233