Item 1.
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(a)
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Name of Issuer:
FORMULA SYSTEMS (1985) LTD.
(the “Issuer”).
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(b)
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Address of Issuer’s Principal Executive Offices:
5 Haplada Street, Or Yehuda 60218, Israel
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Item 2.
While IDB Development
Corporation Ltd., an Israeli public corporation (“IDB Development”)
is included as a Reporting Person herein, IDB Development disclaims beneficial ownership of the Ordinary Shares reported by Clal herein, primarily as a result of the following: On August 21, 2013, the Israeli Supervisor of Capital Markets, Insurance and Savings (the "Supervisor of Insurance") appointed Mr. Moshe Terry (the "Trustee") to hold, as trustee, IDB Development's means of control in Clal (i.e., most of the shares that IDB Development holds in Clal). Moreover, the Supervisor of Insurance has not issued a control permit to IDB Development and its controlling shareholders, with respect to IDB Development's holdings in Clal and instructed IDB Development to sell its controlling stake in Clal within a set timetable.
(a)
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Name of Person Filing:
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This Statement is filed by:
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(1)
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Clal Insurance Enterprises Holdings Ltd.
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(2)
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IDB Development Corporation Ltd.
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The foregoing entities are collectively referred to as the “Reporting Persons” in this Statement.
(1)
Clal Insurance Enterprises Holdings Ltd., an Israeli public corporation (“Clal”) may be deemed to beneficially own the Ordinary Shares reported in this Statement. See Item 4.
(2)
IDB Development and the Trustee own shares of Clal that currently represent approximately 5.0% and 34.8%, respectively, of the
outstanding shares of Clal. See the note in the beginning of this Item 2.
(b)
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Address of Principal Business Offices or, if none, Residence:
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Clal Insurance Enterprises Holdings Ltd. – 36 Raul Walenberg St., Tel Aviv 66180, Israel
IDB Development Corporation Ltd. - The Triangular Tower, 44th floor, 3 Azrieli Center, Tel Aviv 67023, Israel
(c)
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Place of Organization:
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Place of organization of all Reporting Persons, as the case may be, is Israel.
(d)
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Title of Class of Securities:
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Ordinary Shares, NIS 1.00 par value (the “Ordinary Shares”).
346414105
Item 3.
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If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
Not applicable.
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All of the 834,919 Ordinary Shares reported in this Statement as beneficially owned by Clal are held for members of the public through, among others, provident funds and/or pension funds and/or insurance policies, which are managed by subsidiaries of Clal, which subsidiaries operate under independent management and make independent voting and investment decisions. Consequently, this Statement shall not be construed as an admission by the Reporting Persons that they are the beneficial owners of any of the Ordinary Shares covered by this Statement.
Except as set forth above, see items 5-11 of the cover page hereto for beneficial ownership, percentage of class and dispositive power of the Reporting Person, which are incorporated herein.
Item 5.
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Ownership of 5 Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following ☐.
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Item 6.
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Ownership of More than 5 Percent on Behalf of Another Person
Not applicable.
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Item 7.
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Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person
Not applicable.
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Item 8.
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Identification and Classification of Members of the Group
Not applicable.
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Item 9.
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Notice of Dissolution of Group
Not applicable.
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Item 10. Certifications
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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CLAL INSURANCE ENTERPRISES HOLDINGS LTD.
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IDB DEVELOPMENT CORPORATION LTD.
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BY: CLAL INSURANCE ENTERPRISES HOLDINGS LTD.
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BY:
/s/ Anath Levin /s/ Moshe Ernst
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Anath Levin and Moshe Ernst, authorized signatories of CLAL INSURANCE ENTERPRISES HOLDINGS LTD., for itself and on behalf of IDB Development Corporation Ltd., pursuant to an agreement annexed as Exhibit 1 to
the
Schedule 13G
filed on August 14, 2017
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