Alon Holdings - Blue Square Israel Ltd (BSI) 3.19 $BSI
Alon Blue Square Announces Dates for Shareholder and Financial Creditor Meetings to Approve Proposed Debt Arrangement
PR Newswire - Thu Jun 30, 4:17AM CDT
Alon Blue Square Israel Ltd. (OTC:BSIRY) (the "Company"
announced today that a special general meeting of the Company's shareholders will be held on Monday, July 18, 2016 at 5:00 p.m., Israel time at the offices of Agmon & Co. Rosenberg Hacohen & Co., 98 Yigal Alon Street, Tel-Aviv (the "Meeting" . The purpose of the Meeting will be to approve the terms of the proposed debt arrangement between the Company and its financial creditors. As part of the approval, the Company's shareholders will be asked to approve the proposal of Mr. Moti Ben Moshe according to which the company under his control will pay NIS 2 million to the Company's non-controlling shareholders for their shares, reflecting a price per share of NIS 0.11. The record date for the meeting is July 5, 2016.
BSI: 3.19 (unch)
Alon Blue Square Notified of Deferral of Record Date and Payment Date for Series C Debentures
PR Newswire - Thu Jun 23, 7:15AM CDT
Alon Blue Square Israel Ltd. (OTC:BSIRY) (the "Company" announced today that it was notified by the trustee for the Series C Debentures that (until a decision is otherwise made by the holders of the Series C Debentures), the record date for the payment of the outstanding principal and interest on the Series C Debentures (the "Payment" was postponed to July 11, 2016 and the payment date for the Payment was postponed to July 25, 2016.
BSI: 3.19 (unch)
Alon Blue Square Announces Revised Proposed Debt Arrangement Filed With District Court
PR Newswire - Mon Jun 20, 2:52PM CDT
Alon Blue Square Also Announces Filing Of Response To Notification Of Official Receiver Regarding Appointment Of Expert To Evaluate Value And Rights Of Minority Shares
BSI: 3.19 (unch)
Alon Blue Square Announces Submission to Court of Its Position Regarding Payment to Non-Controlling Shareholders in Proposed Plan of Arrangement
PR Newswire - Mon Jun 06, 3:57PM CDT
Alon Blue Square Israel Ltd. (OTC: BSIRY) (the "Company" announced today that it had submitted to the Israeli District Court in Lod, Israel its position that in the absence of the transaction with Ben-Moshe it is highly likely that the minority shareholders would be left with no value. Nonetheless in the Company's view, the controlling shareholder is expected to receive some consideration as part of the transaction with Ben-Moshe for its Company shares (after taking into account the consideration being paid to the controlling shareholder for the other assets to be sold to Ben-Moshe). In order to create equality between the controlling shareholder and the non-controlling shareholders, the Company believes the non-controlling shareholders should receive as part of the Company's plan of arrangement a payment for their shares, equivalent to the amount determined to be paid to the controlling shareholder for its Company shares on a pro rata basis to the holdings of the non-controlling shareholder. In the Company's view, the payment to the non-controlling shareholders would not be material and less than 1% of the amount of debt to be repaid as part of the plan of arrangement. This submission was made by the Company following examinations of this issue by the Company's audit committee. Ben-Moshe's position is that the NIS 115 million to be paid to the controlling shareholder is for the rights and obligations to the loans extended by the controlling shareholder to the Company in the aggregate principal amount of NIS 170 million. Additional information on the Company's court submission will be submitted to the Securities and Exchange Commission on Form 6-K.
BSI: 3.19 (unch)
Alon Blue Square Announces Resignation of Keren Bar-Hava as Director
PR Newswire - Thu Jun 02, 8:36AM CDT
Alon Blue Square Israel Ltd. (OTC: BSIRY) (the "Company" announced today the resignation of Ms. Keren Bar-Hava as a member of the Company's board of directors effective immediately. Ms. Bar-Hava also served on the Company's audit committee. The Board of Directors thanks Ms. Bar-Hava for her contribution to the Company.
BSI: 3.19 (unch)
Alon Blue Square Approves Settlement Agreement Between the Company, Trustees of Mega Retail and a Company Under the Control of Mr. Moti Ben Moshe
PR Newswire - Tue May 31, 2:39PM CDT
Alon Blue Square Israel Ltd. (OTC: BSIRY) (the "Company" announced today that it has approved the settlement agreement between the Company, the trustees of Mega Retail, and a company controlled by Mr. Moti Ben Moshe, which would acquire, subject to satisfaction of closing conditions, control of the Company under the proposed debt reorganization and arrangement filed with the Israeli District Court in Lod, Israel on May 25, 2016. The agreement generally provides for the settlement of all lawsuits and claims between Mega Retail and the Company, and the parties also agreed to certain mutual waiver of claims against each other.
BSI: 3.19 (unch)
Alon Blue Square Announces Receipt of Lawsuit and a Motion for the Recognition of Lawsuit as a Class Action
PR Newswire - Tue May 31, 11:07AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI; OTC: BSIRY) (the "Company" announced today, that a lawsuit and a motion for the recognition of the lawsuit as a class action was filed against the Company in the District Court in Lod, Israel. The plaintiffs are requesting that the Court declare that the affairs of the Company are being managed in a manner that oppresses the rights of its shareholders or that the Company's affairs are being managed in a manner which may raises significant concerns that the rights of the Company's minority shareholders will be oppressed. In addition, the plaintiffs are requesting that the Court declare and deem the proposed debt reorganization and arrangement filed with the Court on May 25, 2016 as a debt arrangement that will oppress minority shareholders. The allegations of the plaintiffs are due to the fact that the proposed arrangement provides for acquisition by Mr. Ben-Moshe of all the outstanding shares of the Company for no consideration, which was a condition of Ben-Moshe for the revised plan of arrangement ("share cancellation condition" .
BSI: 3.19 (unch)
Alon Blue Square Clarifies Ticker Symbol on Over-the-Counter
PR Newswire - Fri May 27, 11:02AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI; OTC:BSIRY) (the "Company" clarified today, following its announcement yesterday, that its new ticker symbol on the over-the-counter ("OTC" market is "BSIRY", and not as previously reported.
BSI: 3.19 (unch)
Alon Blue Square Announces Settlement Agreement Between Trustees of Mega Retail and a Company Under the Control of Mr. Moti Ben Moshe
PR Newswire - Thu May 26, 12:01PM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company" announced today that a settlement agreement, subject to satisfaction of closing conditions, has been reached between trustees of Mega Retail and a company controlled by Mr. Moti Ben Moshe, which would acquire, subject to satisfaction of closing conditions, control of the Company under the proposed debt reorganization and arrangement filed with the Israeli District Court in Lod, Israel on May 25, 2016. The agreement generally provides for the settlement of all lawsuits and claims between Mega Retail and the Company.
BSI: 3.19 (unch)
Alon Blue Square Israel American Depositary Shares to Move to Over-the-Counter Market
PR Newswire - Thu May 26, 5:10AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company" announced today that on May 25, 2015 the New York Stock Exchange (the "NYSE" delivered a written notice to Alon Blue Square and issued a press release announcing that trading of the Company's American Depositary Shares (ADSs) would be suspended immediately. The NYSE also announced that the staff of NYSE Regulation would commence proceedings to delist the ADSs from the NYSE.
BSI: 3.19 (unch)
Alon Blue Square Announces Revised Filing with Israeli Court to Convene a Meeting of Financial and Certain Other Creditors for Arrangement with Financial Creditors and Such Other Creditors
PR Newswire - Wed May 25, 6:35AM CDT
At request of Mr. Moti Ben-Moshe, arrangement currently provides that all outstanding shares are to be transferred to Ben Moshe, for no consideration, from the existing shareholders or are to be erased and nullified, for no consideration to the existing shareholders
BSI: 3.19 (unch)
Alon Blue Square Israel Ltd. Announces Filing of Its Annual Report on Form 20-F
PR Newswire - Tue May 17, 9:16AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (hereinafter: "Alon Blue Square" announced that it filed on May 13, 2016 its Annual Report on Form 20-F for the year ended December 31, 2015. A copy of the Annual Report on Form 20-F is available to be viewed or downloaded on Alon Blue Square's website at http://www.bsi.co.il/index.aspx?id=4296 . In addition, shareholders of Alon Blue Square may obtain, free of charge, a printed copy of Alon Blue Square's complete audited financial statements, by sending a request to Alon Blue Square's General Counsel and Corporate Secretary, Mrs. Zehavit Shahaf, Adv. (email: zehavits@bsi.co.il), or by calling 972-9-9618504.
BSI: 3.19 (unch)
Alon Blue Square Announces Court Decision to Uphold Decision by Trustees of Mega Retail to Sell Mega Retail to Bitan Wines Ltd
PR Newswire - Tue May 17, 5:59AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company" announced today that the District Court in Lod, Israel upheld the decision of the trustees of Mega Retail to sign an agreement with a subsidiary of Bitan Wines Ltd. for the acquisition of Mega Retail. The court decision was delivered after a court hearing held following a motion filed with the Court by, among others, Mr. Ben Moshe and a company under his control, who had submitted one of the other offers to acquire Mega Retail which was not chosen by the trustees and whose proposed offer to acquire Mega Retail was included as part of the Company's proposed debt arrangement filed by the Company with the court on May 9, 2016. Mr. Ben Moshe's motion had requested, amongst other things, that the Court hear each party's argument in a manner which would be beneficial towards Mega Retail's creditors.
BSI: 3.19 (unch)
Alon Blue Square Announces Selection by Trustees of Mega Retail of Offer by Bitan Wines Ltd. to Acquire Mega Retail
PR Newswire - Tue May 10, 1:45PM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company" announced today that it was notified that the trustees of Mega Retail submitted to the District Court in Lod, Israel a notice in which they chose an offer submitted by Bitan Wines Ltd. for the acquisition of Mega Retail among other offers that were submitted to them. Mr. Moti Ben Moshe, who, concurrently with the proposed debt arrangement of the Company would acquire control of the Company (subject to the satisfaction of various closing conditions), had submitted one of the other offers to acquire Mega Retail which was not chosen.
BSI: 3.19 (unch)
Alon Blue Square Announces Filing With Israeli Court to Convene Meetings of Financial Creditors and Shareholders for Arrangement With Financial Creditors as Part of Acquisition by Ben Moshe of Controlling Interest in Alon Blue Square
PR Newswire - Mon May 09, 2:42AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company" announced today that it has filed a motion with the District Court of Lod, Israel to convene meetings of its financial creditors (consisting of holders of the Company's bank debt and guaranteed bank debt and holders of its Series C Debentures) and shareholders for the approval of a proposed debt reorganization and arrangement, or Arrangement, under Section 350 of the Israeli Companies Law, 5759-1999.
BSI: 3.19 (unch)
Alon Blue Square Announces Court Decision to Grant Mr. Ben-Moshe, the Trustees of Mega Retail and the Company 15 Days to Conduct Negotiations With Respect to the Acquisition of Mega Retail
PR Newswire - Wed Apr 20, 1:38PM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company" announced today that in the context of a hearing held in the District Court of Lod, Israel regarding Mega Retail, in which the Company participated, the trustees of Mega Retail, Mr. Moti Ben-Moshe (who has offered to acquire the shares of the Company's controlling shareholders) and the Company, the court granted to the trustees of Mega Retail Ltd., Mr. Ben-Moshe and the Company 15 days to conduct negotiations with respect to the acquisition of Mega Retail. At the end of such 15 day period, the parties are to notify the court of the results of their negotiations. The trustees of Mega Retail are to update the other parties who are interested in acquiring Mega Retail regarding the timetable established by the court
BSI: 3.19 (unch)
Alon Blue Square Announces Dates for Shareholder and Financial Creditor Meetings to Approve Proposed Debt Arrangement
PR Newswire - Thu Jun 30, 4:17AM CDT
Alon Blue Square Israel Ltd. (OTC:BSIRY) (the "Company"
announced today that a special general meeting of the Company's shareholders will be held on Monday, July 18, 2016 at 5:00 p.m., Israel time at the offices of Agmon & Co. Rosenberg Hacohen & Co., 98 Yigal Alon Street, Tel-Aviv (the "Meeting" . The purpose of the Meeting will be to approve the terms of the proposed debt arrangement between the Company and its financial creditors. As part of the approval, the Company's shareholders will be asked to approve the proposal of Mr. Moti Ben Moshe according to which the company under his control will pay NIS 2 million to the Company's non-controlling shareholders for their shares, reflecting a price per share of NIS 0.11. The record date for the meeting is July 5, 2016. BSI: 3.19 (unch)
Alon Blue Square Notified of Deferral of Record Date and Payment Date for Series C Debentures
PR Newswire - Thu Jun 23, 7:15AM CDT
Alon Blue Square Israel Ltd. (OTC:BSIRY) (the "Company"
announced today that it was notified by the trustee for the Series C Debentures that (until a decision is otherwise made by the holders of the Series C Debentures), the record date for the payment of the outstanding principal and interest on the Series C Debentures (the "Payment" was postponed to July 11, 2016 and the payment date for the Payment was postponed to July 25, 2016. BSI: 3.19 (unch)
Alon Blue Square Announces Revised Proposed Debt Arrangement Filed With District Court
PR Newswire - Mon Jun 20, 2:52PM CDT
Alon Blue Square Also Announces Filing Of Response To Notification Of Official Receiver Regarding Appointment Of Expert To Evaluate Value And Rights Of Minority Shares
BSI: 3.19 (unch)
Alon Blue Square Announces Submission to Court of Its Position Regarding Payment to Non-Controlling Shareholders in Proposed Plan of Arrangement
PR Newswire - Mon Jun 06, 3:57PM CDT
Alon Blue Square Israel Ltd. (OTC: BSIRY) (the "Company"
announced today that it had submitted to the Israeli District Court in Lod, Israel its position that in the absence of the transaction with Ben-Moshe it is highly likely that the minority shareholders would be left with no value. Nonetheless in the Company's view, the controlling shareholder is expected to receive some consideration as part of the transaction with Ben-Moshe for its Company shares (after taking into account the consideration being paid to the controlling shareholder for the other assets to be sold to Ben-Moshe). In order to create equality between the controlling shareholder and the non-controlling shareholders, the Company believes the non-controlling shareholders should receive as part of the Company's plan of arrangement a payment for their shares, equivalent to the amount determined to be paid to the controlling shareholder for its Company shares on a pro rata basis to the holdings of the non-controlling shareholder. In the Company's view, the payment to the non-controlling shareholders would not be material and less than 1% of the amount of debt to be repaid as part of the plan of arrangement. This submission was made by the Company following examinations of this issue by the Company's audit committee. Ben-Moshe's position is that the NIS 115 million to be paid to the controlling shareholder is for the rights and obligations to the loans extended by the controlling shareholder to the Company in the aggregate principal amount of NIS 170 million. Additional information on the Company's court submission will be submitted to the Securities and Exchange Commission on Form 6-K. BSI: 3.19 (unch)
Alon Blue Square Announces Resignation of Keren Bar-Hava as Director
PR Newswire - Thu Jun 02, 8:36AM CDT
Alon Blue Square Israel Ltd. (OTC: BSIRY) (the "Company"
announced today the resignation of Ms. Keren Bar-Hava as a member of the Company's board of directors effective immediately. Ms. Bar-Hava also served on the Company's audit committee. The Board of Directors thanks Ms. Bar-Hava for her contribution to the Company. BSI: 3.19 (unch)
Alon Blue Square Approves Settlement Agreement Between the Company, Trustees of Mega Retail and a Company Under the Control of Mr. Moti Ben Moshe
PR Newswire - Tue May 31, 2:39PM CDT
Alon Blue Square Israel Ltd. (OTC: BSIRY) (the "Company"
announced today that it has approved the settlement agreement between the Company, the trustees of Mega Retail, and a company controlled by Mr. Moti Ben Moshe, which would acquire, subject to satisfaction of closing conditions, control of the Company under the proposed debt reorganization and arrangement filed with the Israeli District Court in Lod, Israel on May 25, 2016. The agreement generally provides for the settlement of all lawsuits and claims between Mega Retail and the Company, and the parties also agreed to certain mutual waiver of claims against each other. BSI: 3.19 (unch)
Alon Blue Square Announces Receipt of Lawsuit and a Motion for the Recognition of Lawsuit as a Class Action
PR Newswire - Tue May 31, 11:07AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI; OTC: BSIRY) (the "Company"
announced today, that a lawsuit and a motion for the recognition of the lawsuit as a class action was filed against the Company in the District Court in Lod, Israel. The plaintiffs are requesting that the Court declare that the affairs of the Company are being managed in a manner that oppresses the rights of its shareholders or that the Company's affairs are being managed in a manner which may raises significant concerns that the rights of the Company's minority shareholders will be oppressed. In addition, the plaintiffs are requesting that the Court declare and deem the proposed debt reorganization and arrangement filed with the Court on May 25, 2016 as a debt arrangement that will oppress minority shareholders. The allegations of the plaintiffs are due to the fact that the proposed arrangement provides for acquisition by Mr. Ben-Moshe of all the outstanding shares of the Company for no consideration, which was a condition of Ben-Moshe for the revised plan of arrangement ("share cancellation condition" . BSI: 3.19 (unch)
Alon Blue Square Clarifies Ticker Symbol on Over-the-Counter
PR Newswire - Fri May 27, 11:02AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI; OTC:BSIRY) (the "Company"
clarified today, following its announcement yesterday, that its new ticker symbol on the over-the-counter ("OTC" market is "BSIRY", and not as previously reported. BSI: 3.19 (unch)
Alon Blue Square Announces Settlement Agreement Between Trustees of Mega Retail and a Company Under the Control of Mr. Moti Ben Moshe
PR Newswire - Thu May 26, 12:01PM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company"
announced today that a settlement agreement, subject to satisfaction of closing conditions, has been reached between trustees of Mega Retail and a company controlled by Mr. Moti Ben Moshe, which would acquire, subject to satisfaction of closing conditions, control of the Company under the proposed debt reorganization and arrangement filed with the Israeli District Court in Lod, Israel on May 25, 2016. The agreement generally provides for the settlement of all lawsuits and claims between Mega Retail and the Company. BSI: 3.19 (unch)
Alon Blue Square Israel American Depositary Shares to Move to Over-the-Counter Market
PR Newswire - Thu May 26, 5:10AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company"
announced today that on May 25, 2015 the New York Stock Exchange (the "NYSE" delivered a written notice to Alon Blue Square and issued a press release announcing that trading of the Company's American Depositary Shares (ADSs) would be suspended immediately. The NYSE also announced that the staff of NYSE Regulation would commence proceedings to delist the ADSs from the NYSE. BSI: 3.19 (unch)
Alon Blue Square Announces Revised Filing with Israeli Court to Convene a Meeting of Financial and Certain Other Creditors for Arrangement with Financial Creditors and Such Other Creditors
PR Newswire - Wed May 25, 6:35AM CDT
At request of Mr. Moti Ben-Moshe, arrangement currently provides that all outstanding shares are to be transferred to Ben Moshe, for no consideration, from the existing shareholders or are to be erased and nullified, for no consideration to the existing shareholders
BSI: 3.19 (unch)
Alon Blue Square Israel Ltd. Announces Filing of Its Annual Report on Form 20-F
PR Newswire - Tue May 17, 9:16AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (hereinafter: "Alon Blue Square"
announced that it filed on May 13, 2016 its Annual Report on Form 20-F for the year ended December 31, 2015. A copy of the Annual Report on Form 20-F is available to be viewed or downloaded on Alon Blue Square's website at http://www.bsi.co.il/index.aspx?id=4296 . In addition, shareholders of Alon Blue Square may obtain, free of charge, a printed copy of Alon Blue Square's complete audited financial statements, by sending a request to Alon Blue Square's General Counsel and Corporate Secretary, Mrs. Zehavit Shahaf, Adv. (email: zehavits@bsi.co.il), or by calling 972-9-9618504. BSI: 3.19 (unch)
Alon Blue Square Announces Court Decision to Uphold Decision by Trustees of Mega Retail to Sell Mega Retail to Bitan Wines Ltd
PR Newswire - Tue May 17, 5:59AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company"
announced today that the District Court in Lod, Israel upheld the decision of the trustees of Mega Retail to sign an agreement with a subsidiary of Bitan Wines Ltd. for the acquisition of Mega Retail. The court decision was delivered after a court hearing held following a motion filed with the Court by, among others, Mr. Ben Moshe and a company under his control, who had submitted one of the other offers to acquire Mega Retail which was not chosen by the trustees and whose proposed offer to acquire Mega Retail was included as part of the Company's proposed debt arrangement filed by the Company with the court on May 9, 2016. Mr. Ben Moshe's motion had requested, amongst other things, that the Court hear each party's argument in a manner which would be beneficial towards Mega Retail's creditors. BSI: 3.19 (unch)
Alon Blue Square Announces Selection by Trustees of Mega Retail of Offer by Bitan Wines Ltd. to Acquire Mega Retail
PR Newswire - Tue May 10, 1:45PM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company"
announced today that it was notified that the trustees of Mega Retail submitted to the District Court in Lod, Israel a notice in which they chose an offer submitted by Bitan Wines Ltd. for the acquisition of Mega Retail among other offers that were submitted to them. Mr. Moti Ben Moshe, who, concurrently with the proposed debt arrangement of the Company would acquire control of the Company (subject to the satisfaction of various closing conditions), had submitted one of the other offers to acquire Mega Retail which was not chosen. BSI: 3.19 (unch)
Alon Blue Square Announces Filing With Israeli Court to Convene Meetings of Financial Creditors and Shareholders for Arrangement With Financial Creditors as Part of Acquisition by Ben Moshe of Controlling Interest in Alon Blue Square
PR Newswire - Mon May 09, 2:42AM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company"
announced today that it has filed a motion with the District Court of Lod, Israel to convene meetings of its financial creditors (consisting of holders of the Company's bank debt and guaranteed bank debt and holders of its Series C Debentures) and shareholders for the approval of a proposed debt reorganization and arrangement, or Arrangement, under Section 350 of the Israeli Companies Law, 5759-1999. BSI: 3.19 (unch)
Alon Blue Square Announces Court Decision to Grant Mr. Ben-Moshe, the Trustees of Mega Retail and the Company 15 Days to Conduct Negotiations With Respect to the Acquisition of Mega Retail
PR Newswire - Wed Apr 20, 1:38PM CDT
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company"
announced today that in the context of a hearing held in the District Court of Lod, Israel regarding Mega Retail, in which the Company participated, the trustees of Mega Retail, Mr. Moti Ben-Moshe (who has offered to acquire the shares of the Company's controlling shareholders) and the Company, the court granted to the trustees of Mega Retail Ltd., Mr. Ben-Moshe and the Company 15 days to conduct negotiations with respect to the acquisition of Mega Retail. At the end of such 15 day period, the parties are to notify the court of the results of their negotiations. The trustees of Mega Retail are to update the other parties who are interested in acquiring Mega Retail regarding the timetable established by the court BSI: 3.19 (unch)
