A precedent setting judgement by the Israeli District Court (Central) held that in a private issuance of shares to a controlling shareholder, it is sufficient to apply the share’s market price and there is no need to obtain an opinion – except if the controlling shareholder uses supplementary information that it has, or sets the timing of the issuance in a manipulative manner.
The company’s controlling shareholders (past and present) in this case were represented by FBC’s Shai Zadik, Shlomi Dahan and Gal Peleg.
Please find the full legal update here (Hebrew)
