TEL AVIV, Israel, July 18, 2018 /PRNewswire/ --
ADO Group Ltd. (TASE: ADO) announces that it has been informed
by Shikun & Binui (S&B), one of its shareholders, that
investigators of the Israeli Securities Authority and the Israeli
Police carried out investigative activities on July 17, 2018 and detained for questioning
officers in S&B, in the framework of the investigation reported
by S&B related to operations of a foreign indirectly held
subsidiary of S&B outside of Israel and described in the immediate reports
it has filed with the MAGNA (reporting system of the Israeli
Securities Authority)
Under these circumstances, the chairman of S&B's board of
directors (being also the chairman of ADO Group Ltd and of ADO
Properties SA), was detained for questioning and released
under restrictive conditions and will be under house detention
which will end on July 22,
2018.
As far as S&B is aware, the above-mentioned investigation
does not relate to ADO Group Ltd, to ADO Properties SA's
businesses, to an activity in Germany or Luxembourg, or to the chairman's role as a
board member of either ADO Group Ltd. nor ADO Properties
SA.
About ADO Group Ltd:
ADO Group Ltd is the largest shareholder of ADO Properties
S.A , registered with the Israeli Security Authority under
520039066 and publicly listed on the Tel Aviv Stock Exchange, and
has its registered office at 1A Hayarden Street, Airport City, Ben
Gurion Airport, Tel Aviv, Israel.
ADO Group Ltd is a public Israeli company whose interest in ADO
Properties S.A is 38.24%.
Contact:
Eyal Merdler, CFO
ADO Group Ltd
Tel.: +972-3-5416301
eyal@ado.co.il
SOURCE ADO Group Ltd