TEL-AVIV, Israel, October 22, 2013 /PRNewswire/ --
Ellomay Capital Ltd. (NYSE MKT: ELLO)
("Ellomay" or
the "Company"), today
announced that the Tel-Aviv Stock Exchange ("TASE") has
approved the dual listing of the Company's ordinary shares on the
TASE beginning on Sunday, October 27,
2013, under the ticker symbol ELOM. The Company's ordinary
shares will thereafter be listed on both the NYSE MKT in
the United States and the TASE in
Israel. Based on the current
market capitalization of the Company and other current market
information, the Company expects to become part of the TA MidCap-50
index.
Ellomay will host a welcoming ceremony on Sunday, October 27, 2013, at 9:30 AM Israel time at the Tel-Aviv Stock
Exchange Visitor Center at 54 Ahad Ha'am Street, Tel Aviv. Shlomo
Nehama, Chairman of the Board of Ellomay, will speak and the
Company's management will be available for questions.
"We are pleased to join the TASE with this new dual listing,"
said Ran Fridrich, CEO and a member of the board of Ellomay. "We
believe that this move will expand the holdings of institutional
shareholders in the Company. Ellomay has the type of operations
that match the preferences of the Israeli institutional investors
and the decision to dual list the shares was intended, among other
things, to facilitate their investment in the Company. This is a
period in which the market expresses interest in the Company and
its operations, Ellomay holds high quality assets in Israel and Europe and is trying to locate new investments
in order to expand its operations in the energy sector."
The Company will remain subject to the rules and regulations of
the NYSE MKT and of the U.S. Securities and Exchange Commission.
Trading on the TASE occurs on Sunday from 9:45 AM to 4:30 PM Israel time and on Monday
through Thursday from 9:45 AM to 5:30
PM Israel time, except on TASE trading holidays. Through the
amendment to the Israeli Securities Law, 5728-1968, that took
effect in October 2000, U.S.-listed
companies may dual-list on the TASE without additional regulatory
requirements. TASE links to the U.S. markets via a direct link to
DTC, a subsidiary of the Depository Trust & Clearing
Corporation, which facilitates the trading of dually-listed
securities.
About Ellomay Capital
Ellomay is an Israeli public company whose shares are listed on
the NYSE MKT stock exchange, which focuses its business in the
energy and infrastructure sectors worldwide and is chaired by Mr.
Shlomo Nehama, former Chairman of
Bank Hapoalim, and controlled by Mr. Nehama and Kanir Joint
Investments (2005) Limited Partnership, which is controlled by Mr.
Ran Fridrich and Mr. Hemi
Raphael.
Ellomay's main assets include twelve photovoltaic plants in
Italy with an aggregate capacity
of approximately 22.8 MWp (six in the Puglia Region, four in the
Marche Region and two in the Veneto Region), 85% ownership of a
photovoltaic plant in Spain with a
capacity of approximately 2.3 MWp, and 7.5% indirect holdings in
Dorad (with an option to increase such holdings to 9.375%),
Israel's largest private power
plant, which is in the final stages of construction and is expected
to have an aggregate capacity of approximately 800MW (representing
approximately 8% of Israel's
current electricity consumption).
Information Relating to Forward-Looking
Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties, including statements
that are based on the current expectations and assumptions of the
Company's management. All statements, other than statements of
historical facts, included in this press release regarding the
Company's plans and objectives, expectations and assumptions of
management are forward-looking statements. The use of certain
words, including the words "estimate," "project," "intend,"
"expect," "believe" and similar expressions are intended to
identify forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The Company
may not actually achieve the plans, intentions or expectations
disclosed in the forward-looking statements and you should not
place undue reliance on the Company's forward-looking statements.
Various important factors could cause actual results or events to
differ materially from those that may be expressed or implied by
our forward-looking statements including the share price of the
Company's ordinary shares on the TASE and other market conditions.
These and other risks and uncertainties associated with the
Company's business are described in greater detail in the filings
the Company makes from time to time with Securities and Exchange
Commission, including its Annual Report on Form 20-F. The
forward-looking statements are made as of this date and the Company
does not undertake any obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact:
Kalia Weintraub
CFO
Tel: +972(3)797-1111
Email: anatb@ellomay.com
SOURCE Ellomay Capital Ltd