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Fell just 0.36% short of the required majority to delist from the TASE in its offer to purchase.
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Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
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/ By Ron Steinblatt /
Despite a positive response from institutional investors including Psagot Investment House Ltd. and Halman Aldubi Investment House Ltd. to the offer to purchase by Delek Group Ltd. (TASE: DLEKG) controlled by Yitzhak Tshuva, for shares held by the public in Delek Energy Systems Ltd. (TASE:DLEN), the majority was not achieved which is required to delist the company from the TASE.
The percentage of the offer that responded positively was 7.9%, just 0.36% short of the amount required to approve the offer. The public owns 13.3% of Delek Energy.
For Delek Group’s offer to purchase to succeed, it needed a favorable response by shareholders who own at least 8.3% of the company to reach the required 95% threshold. All the financial institutions voted in favor of the offer to purchase except the advanced study funds of the schoolteachers and kindergarten teachers who hold a 1.1% stake.
Published by www.globes-online.com
