Key Developments For G. Willi-Food International Ltd
G. Willi-Food International Ltd (WILC.O) (Consolidated Issue listed on NASDAQ Capital Market)
G. Willi-Food International Ltd. Announces Sale Of All Of Its Holdings In Y.L.W Baron International Trading Ltd.
G. Willi-Food International Ltd. announced that on September 2, 2009 it had signed an agreement (Agreement) to sell all of its holdings in Y.L.W Baron International Trading Ltd. (Baron), kosher food exporters located in Israel, and to assign all of its rights and obligations under the Founders Agreement from February 2007, to a private company owned by the Baron Family, who hold, as of the date of the Agreement the remaining shares in Baron. In exchange for the sale of shares and the assignment of rights and obligations, Baron Family agreed to pay $937,500, which was paid to the Company on the date of execution of the Agreement.
CORRECTION OFFICIAL - G. Willi-Food International Ltd. Announces Completion of Tender Offer for Gold Frost Shares; Also Announces Agreement By Gold Frost To Sell Its 51% Interest In Danish Dairy Distr
CORRECTED TO READ-2,706,388 Gold Frost shares instead of 2,710,388 G. Willi-Food International Ltd. announced that it has completed its tender offer to purchase from the holders of shares and/or depositary interests of its subsidiary, Gold Frost Ltd. (Gold Frost), all of the issued and outstanding share capital of Gold Frost not already held by Willi Food for a price of 7 pence per share or per depositary interest in cash. This tender offer was commenced on June 22, 2009. As of the time of expiration of the tender offer, an aggregate of 2,706,388 Gold Frost shares and depositary interests were duly tendered. Such shares and depositary interests constitute, together with the shares held by Willi Food, more than 95% of the issued and outstanding share capital of Gold Frost. In accordance with Israeli law, Willi Food will purchase all of the issued and outstanding Gold Frost shares and depositary interests currently not owned by it (including those not tendered in the tender offer) at the tender offer price and will pay an aggregate amount of approximately GBP370,430 for all such shares and depositary interests. Sale by Gold Frost of its Interest in Danish Dairy Distributor. The Company also announced that Gold Frost had signed an agreement to sell Gold Frost's 51% interest in a Danish dairy distributor (Distributor) to the Distributor and/or to the Distributor other shareholder (Other Shareholder) for $400,000. Gold Frost acquired its 51% interest from the Other Shareholder in
G. Willi-Food International Ltd. Announces Completion Of Tender Offer For Gold Frost Shares
G. Willi-Food International Ltd. announced that the tender offer commenced by it on June 22, 2009, to purchase from the holders of shares and/or depositary interests of Gold Frost Ltd. all of the issued and outstanding share capital of Gold Frost not already held by G. Willi Food for a price of GBP 0.07 per share or per depositary interest in cash has been successfully completed. As of the time of expiration of the tender offer, an aggregate of 2,706,388 Gold Frost shares and depositary interests were duly tendered. Such shares and depositary interests constitute, together with the shares held by G. Willi Food, more than 95% of the issued and outstanding share capital of Gold Frost. In accordance with Israeli law, G. Willi Food will purchase all of the issued and outstanding Gold Frost shares and depositary interests currently not owned by it (including those not tendered in the tender offer) at the tender offer price and will pay an aggregate amount of approximately GBP 370,430 for all such shares and depositary interests.
G. Willi-Food International Ltd. Announces Tender Offer For Gold Frost Shares
G. Willi-Food International Ltd. announced that it has commenced a tender offer to purchase from the holders of shares and/or depositary interests of Gold Frost Ltd. all of the issued and outstanding share capital of Gold Frost not already held by G. Willi Food for a price of 7 pence per share or per depositary interest in cash. The tender offer is subject to the condition that the number of shares and depositary interests duly tendered constitute, upon expiration of the Offer Period and together with the shares held by Willi Food at such time, more than 95% of the issued and outstanding share capital of Gold Frost. Willi Food currently holds approximately 89.99% of the issued and outstanding share capital of Gold Frost. If the tender offer is completed, Willi Food expects to pay an aggregate amount of approximately GBP370,430 for all the shares and depositary interests (including those not tendered in the tender offer). The tender offer will expire on July 22, 2009.
G. Willi-Food International Ltd. Receives Temporary Injunction In Connection With Shamir Salads
G. Willi-Food International Ltd. announced that on May 27, 2009, the district court in Tel Aviv issued a temporary injunction against the minority shareholders of Shamir Salads (Sellers), with whom the Company had entered into a January 2, 2008, agreement to purchase approximately 51% of the shares of Shamir Salads (Shamir Agreement). Pursuant to the injunction issued by the court, the Sellers are prohibited from taking any action not in accordance with the signatory rights in Shamir Salads in effect prior to May 18th, performing any disposition of the shares of Shamir Salads held by the Company, taking any action not in accordance with the articles of association of Shamir Salads as in effect prior to May 18th, and/or interfering with the functions of Shamir Salads' board of directors as composed prior to May 18th. In addition, pursuant to the injunction, the Sellers are prohibited from interfering with the functions of the co-CEO of Shamir Salads nominated by the Company and/or from preventing the deputy CFO of Shamir Salads' from participating in the discussions to approve the financial statements of Shamir Salads. The district court also required the Sellers to reimburse the Company for its court and attorney expenses in the amount of NIS 30,000 plus VAT.
