Tel Aviv, November 3, 2019. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) refers to the regulatory filing of its subsidiary Delek Drilling (60% owned) with regards to the closing of the EMG transaction.
Further to the Partnership’s immediate report of October 2, 2019 (Ref. no.: 2019-01-100249) regarding the process of the closing of the EMG transaction, in the context of which agreements were signed for the purchase of the shares of East Mediterranean Gas Company S.A.E which owns the EMG Pipeline (the “Purchased EMG Shares”), for the transport of natural gas from Israel to Egypt via the EMG Pipeline, the Partnership hereby respectfully announces as follows:
As of the date hereof, no conditions precedent remain for the EMG transaction, and in this context the full amount of the consideration has been transferred to the escrow agents, the Purchased EMG Shares were transferred from the sellers to EMED, and share deeds were issued in EMED’s name accordingly. Upon the transfer of the full amount of the consideration from the escrow agents to the sellers, which is expected to be performed in the coming days, the EMG transaction will be closed.
In the Partnership’s estimation, the EMG Pipeline and the Egyptian transmission system will be fit for the commercial transport of gas on the date of commencement of the obligation of the Leviathan partners to supply natural gas under the gas supply agreement to Dolphinus Holdings Limited (“Dolphinus”), as specified in the Partnership’s immediate report of October 2, 2019 (Ref. no.: 2019-01-100243).
Caution regarding forward-looking information: The foregoing information regarding the expected date for the transfer of the consideration in the EMG transaction to the sellers and the closing of the EMG transaction, and the date on which the EMG Pipeline and the Egyptian transmission system will be fit for the transport of gas to Dolphinus, constitute forward-looking information, within the meaning thereof in Section 32A of the Securities Law, 5728-1968. This information is based on estimates only and it may not materialize, in whole or in part, or may materialize in a materially different manner, due to various factors beyond the Partnership’s control.
Delek Drilling Management (1993) Ltd.
General Partner of Delek Drilling – Limited Partnership
By Yossi Abu, CEO
Yaniv Friedman, Deputy CEO
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on November 3, 2019.
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
Head of Investor Relations
Delek Group Ltd.
Tel: +972 9 863 8443