G. Willi-Food Announces Approval by Gold Frost Shareholders of Cancellation of Gold Frost's Listing on the AIM Market
May 20 2008 - 12:23PM
PR Newswire (US)
YAVNE, Israel, May 20 /PRNewswire-FirstCall/ -- G. Willi-Food
International Ltd. (NASDAQ:WILC) (the "Company" or "Willi Food"),
one of Israel's largest food importers and a single-source supplier
of one of the world's most extensive range of quality kosher food
products, today announced that Gold Frost Ltd. ("Gold Frost") today
convened a Special General Meeting to approve the cancellation of
its ordinary share listing to the AIM Market of the London Stock
Exchange. Gold Frost is Willi Food's 89.99% owned subsidiary and a
leading developer and distributor of premium kosher chilled and
frozen dairy food products. At the Special General Meeting of Gold
Frost held today, the resolution to cancel Gold Frost's admission
to AIM was duly passed. Accordingly, cancellation of Gold Frost's
AIM admission will take effect at 7.00 a.m. (BST) on May 28, 2008.
Willi Food's shares will continue to trade on the NASDAQ Capital
Market in the U.S. Willi Food has expressed interest in possibly
buying the remainder of Gold Frost shares that it does not already
own. About G. Willi-Food International, Ltd. G. Willi-Food
International Ltd. is one of Israel's largest food importers and a
single-source supplier of one of the world's most extensive ranges
of quality kosher food products. It currently imports, markets and
distributes more than 600 food products manufactured by some 120
top-tier suppliers throughout the world to more than 2,000
customers. Willi Food excels in identifying changing tastes in its
markets and sourcing high-quality kosher products to address them.
The Company also operated several subsidiaries: Gold Frost Ltd.
subsidiary develops and distributes kosher chilled and frozen dairy
food products internationally together with its Danish dairy
distributor subsidiary; Laish Israeli subsidiary and joint venture
with the Baron Family engage in the global import, export and
distribution of kosher products worldwide; Shamir Salads is a
leading international distributor of pre-packaged Mediterranean
foods. For more information, please visit the Company's website at
http://www.willi-food.co.il/. This press release contains
forward-looking statements within the meaning of safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
relating to future events or our future performance, such as
statements regarding trends, demand for our products and expected
revenues, operating results, and earnings. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied in those forward-looking statements. These
risks and other factors include but are not limited to: changes
affecting currency exchange rates, including the NIS/U.S. Dollar
exchange rate, payment default by any of our major clients, the
loss of one of more of our key personnel, changes in laws and
regulations, including those relating to the food distribution
industry, and inability to meet and maintain regulatory
qualifications and approvals for our products, termination of
arrangements with our suppliers, in particular Arla Foods, loss of
one or more of our principal clients, increasing levels of
competition in Israel and other markets in which we do business,
changes in economic conditions in Israel, including in particular
economic conditions in the Company's core markets, our inability to
accurately predict consumption of our products and risks associated
with product liability claims. We cannot guarantee future results,
levels of activity, performance or achievements. The matters
discussed in this press release also involve risks and
uncertainties summarized under the heading "Risk Factors" in the
Company's Annual Report on Form 20-F for the year ended December
31, 2006, filed with the Securities and Exchange Commission. These
factors are updated from time to time through the filing of reports
and registration statements with the Securities and Exchange
Commission. We do not assume any obligation to update the
forward-looking information contained in this press release.
Company Contact: G. Willi Food International Ltd., Gil Hochboim,
Vice President, +972-8-932-1000, ; IR Contact: The Global
Consulting Group, Christopher Chu, +1-646-284-9426, . DATASOURCE:
G. Willi-Food International Ltd CONTACT: Company Contact: G. Willi
Food International Ltd., Gil Hochboim, Vice President,
+972-8-932-1000, ; IR Contact: The Global Consulting Group,
Christopher Chu, +1-646-284-9426, .
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