TEL AVIV, Israel, July 17, 2014 /PRNewswire/ --
Ellomay Capital Ltd. (NYSE MKT: ELLO; TASE: ELOM)
("Ellomay" or the
"Company"), an emerging operator in the
renewable energy and energy infrastructure sector, is saddened to
announce the untimely passing of Oded
Akselrod, a member of the Company's Board of Directors, at
the age of 67. Mr. Akselrod, who has served as a director of the
Company since 2002 and was a member of the Company's audit
committee and compensation committee, passed away on July 14, 2014.
The Company's Board of Directors appointed Anita Leviant to replace Mr. Akselrod as a
member of the Company's audit committee and compensation
committee.
About Ellomay Capital Ltd.
Ellomay is an Israeli based company whose shares are registered
with the NYSE MKT, under the trading symbol "ELLO" and with the Tel
Aviv Stock Exchange under the trading symbol "ELOM." Since
2009, Ellomay Capital focuses its business in the energy and
infrastructure sectors worldwide. Ellomay (formerly Nur
Macroprinters Ltd.) previously was a supplier of wide format and
super-wide format digital printing systems and related products
worldwide, and sold this business to Hewlett-Packard Company during
2008 for more than $100 million.
To date, Ellomay has evaluated numerous opportunities and
invested significant funds in the renewable, clean energy and
natural resources industries in Israel, Italy
and Spain, including:
- Approx. 22.6MW of photovoltaic power plants in
Italy and 85% of 2.3MW of
photovoltaic power plant in Spain;
- 7.5% indirect interest, with an option to increase its holdings
to 9.375%, in Dorad Energy Ltd. Israel's largest private power plant, with
production capacity of approximately 800 MW, representing about 8%
of Israel's total current
electricity consumption;
Ellomay Capital is controlled by Mr. Shlomo Nehama, Mr. Hemi
Raphael and Mr. Ran Fridrich. Mr. Nehama is one of
Israel's prominent businessmen and
the former Chairman of Israel's
leading bank, Bank Hapohalim, and Messrs. Raphael and Fridrich both
have vast experience in financial and industrial businesses. These
controlling shareholders, along with Ellomay's dedicated
professional management, accumulated extensive experience in
recognizing suitable business opportunities worldwide. The
expertise of Ellomay's controlling shareholders and management
enables the company to access the capital markets, as well as
assemble global institutional investors and other potential
partners. As a result, Ellomay is capable of considering
significant and complex transactions, beyond its immediate
financial resources.
For more information about Ellomay, visit
http://www.ellomay.com.
Information Relating to Forward-Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. All statements, other
than statements of historical facts, included in this press release
regarding our plans and objectives 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. We may not actually
achieve the plans, intentions or expectations disclosed in our
forward-looking statements and you should not place undue reliance
on our 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.
These and other risks and uncertainties associated with our
business are described in greater detail in the filings we make
from time to time with Securities and Exchange Commission,
including our 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