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07 SEP

Investment in IDBD

The Company published a material fact regarding its investment in IDBD and an additional sale of CLAL.

The Company hereby reports that regarding the commitment to make capital contributions in the amount of NIS 70,000,000 (seventy million Israeli shekels) on September 2, 2020 and another NIS 70,000,000 (seventy million Israeli shekels) on September 2, 2021, the Company has considered that there are doubts about the fulfilment of the preconditions established for making such contributions, for which it has decided not to make the corresponding payment for this year.


It is clarified that Dolphin continues to hold discussions with IDBD creditors to dispel the doubts that have arisen. 


We also inform that IDBD communicated the sale of 2,376,527 Clal shares at an average price of NIS/Share of 32.48, representing 3.5% of the issued share capital. 


Because of this transaction, as of to date, IDBD's holding in Clal amounts to 5.0% of its share capital.