Tel Aviv, October 24, 2017. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that following of the Company’s Board of Directors’ decision of October 24, 2017, concerning a planned buy-back of Company shares (ref. no. 2017-01-093313), the Company hereby updates as follows:
In accordance with the Company’s strategy as detailed in Section 1.22 of Chapter A in the Company’s periodic report as of December 31, 2016 (ref. no. 2017-01-033078), for identifying opportunities for new investments on international markets, with the aim of transforming the group into an international energy company and a key player in those market where it currently operates or will operate in the future, and to the Company considering options for acquiring overseas assets and/or companies which will be synergistic and complementary to the group’s current operations in this field, the Company is in various stages of discussions and/or negotiations with various overseas parties for a possible investment and/or purchase of oil and gas assets in the Gulf of Mexico. As part of these discussions and/or negotiations, the Company has signed a non-binding letter of intent for reviewing a deal, pending the execute of a binding agreement and completion of a due diligence process to the Company’s satisfaction.
Warning concerning forward-looking information – The above information concerning discussions and/or negotiations as aforesaid constitutes forward-looking information under the Securities Law, 1968, which may fail to materialize, in full or in part, in the said manner or in any other manner, and may materialize in a manner materially different than the aforesaid, and in particular there is no certainty that the said discussions and/or negotiations will result in binding agreements for investment in or purchase of oil assets or that the conditions required by law for any such possible agreements to take effect will be met.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on October 24, 2017.
Delek Group is an independent E&P and the pioneering visionary behind the development of the East Med. With eight consecutive finds in the Levant Basin, Delek is leading the region’s development into a major natural gas export hub. In addition, Delek has embarked on an international expansion with a focus on high-potential opportunities in the North Sea and North America. Delek Group is one of Israel’s largest and most prominent companies with a consistent track record of growth. Its shares are traded on the Tel Aviv Stock Exchange (TASE:DLEKG) and are part of the TA 35 Index.
For more information on Delek Group please visit www.delek-group.com
Head of Investor Relations
Delek Group Ltd.
Tel: +972 9 863 8444