B.S.D. Crown Ltd BSD Crown Ltd (The "Company")
April 12 2021 - 05:24AM
UK Regulatory
TIDMBSD
BSD Crown Ltd.
(The "Company")
(LSE: BSD)
BSD Crown Ltd (The "Company")
Ramat Gan, 12 April 2021
Further to the announcements made by the Company on June 22, 2018 and January
15, 2019 ("Prior Announcements"), the Company hereby updates the market that
Israel 18 B.V., a privately held Netherlands company ("Israel 18"), and Mr.
Alexander Avdeev ("Mr. Avdeev", and together with Israel 18, the "Defendants")
have been found by the Central District Court of Israel (the "Court") to be in
violation of court orders relating to discovery proceedings. In connection
thereto, the Court removed the Defendants' statements of defense filed as part
of the litigation proceedings described in the Prior Announcements. Further to
the above, on March 18, 2021 and March 30, 2021, in ex parte rulings, a verdict
in the sum of NIS 173,447,815 (plus indexation differences and interest from
the date of the verdict) was imposed against Israel 18 and a verdict in the sum
of NIS 164,389,764 (plus indexation differences and interest from the date of
the verdict) was imposed against Mr. Avdeev. The Company believes that it is
very unlikely that it will be successful in collecting the awarded amounts.
The Company has a lien on 3,500,000 shares of the Company held by Israel 18 in
connection with the enforcement of verdicts relating to these proceedings, but
to the best of the Company's knowledge, certain of those shares may be subject
to other liens in favor of an unrelated third party.
Enquiries: Joseph Williger
Active Chairman of the Board
END
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