Tel Aviv, June 24, 2020. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that further to what was stated in Note 24A.3.(3) of the Company's financial statements as of December 31, 2019, published on May 3, 2020 (ref. no. 2020-01-043356) and what was stated in the Company’s Immediate Report dated May 12, 2020 (ref. no. 2020-01-047163) concerning pending claims to which the Company is a party about the investment recovery date in the Tamar project for an urgent petition for temporary remedies (“the Petition”) (filed by the supervisors on behalf of the holders of participation units in Delek Drilling Limited Partnership (“the Supervisors”), the Supervisors submitted a petition and agreed notice to the Tel-Aviv District Court (Economic Division) that on account of contacts being held with the Company, Delek Energy Systems Ltd (“Delek Energy”) and Delek Royalties (2012) Ltd, an accord has been reached whereby, as of this time, there is no need to rule on the matters in dispute between the parties in the Petition and the court was requested to cancel the hearing that had been set.
The court cancelled the hearing in the light of the accords of the parties.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on June 24, 2020.
About The Delek Group
Delek Group is an independent E&P company with activities in the UK North Sea and the East Mediterranean. Delek Group has significant holdings in the Leviathan and Tamar natural gas reservoirs in the East Mediterranean (Israel's territorial water), with reserves and resources of more than 30 TCF and annual production of approximately 20 BCM. These reservoirs are a major natural gas supplier to the growing markets of Israel, Egypt and Jordan and Delek continues to lead the region’s development into a major natural gas export hub. Through its wholly owned subsidiary Ithaca, Delek Group holds high-quality oil and natural gas assets in the UK North Sea totaling more than 270 million barrels of oil equivalent (boe) and producing about 27 million boe per year. 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 (DLEKG:IT) And its ADRs are traded on the US OTC market (DGRLY:US).
For more information on Delek Group please visit www.delek-group.com
Head of Investor Relations
Delek Group Ltd.
Tel: +972 9 8638443