: Alon Blue Square Announces Resignation of Chairman
of Its Board of Directors 13:15 10.08.15
YAKUM, Israel, August 10, 2015
YAKUM, Israel, August 10, 2015 /PRNewswire/ --
Alon Blue Square Israel Ltd. (NYSE: BSI) (hereinafter: the "Company") announced today that Mr. Amit Ben Itzhak has announced his intention to resign from his position as chairman of the board of directors of the Company due to his heavy work load from the other positions he holds outside the Company. Mr. Ben Itzhak will continue in his other positions in the Alon Group, including as chairman of Alon Israel Oil Company Ltd. http://www.ariva.de/news/...hairman-of-Its-Board-of-Directors-5452664
Alon Blue Square Announces Discussions Regarding the Sale of its Interest in Diners Club Israel Ltd. 17:20 11.08.15
YAKUM, Israel, August 11, 2015
YAKUM, Israel, August 11, 2015 /PRNewswire/ --
Alon Blue Square Israel Ltd. (NYSE: BSI) (hereinafter: the "Company") announced today that it is discussing with Credit Card for Israel Company Ltd. (hereinafter: "CAL") the sale of its interest in Diners Club Israel Ltd. (hereinafter: "Diners"). Under the terms of the potential transaction, the Company (which 36.75% of the share capital of Diners and Dor Alon Financing Ltd. (a wholly owned subsidiary of Dor Alon Energy in Israel (1988) Ltd., which holds 12.25% of the share capital of Diners)) would sell their entire interest in Diners to CAL (hereinafter: the "Transaction").
There is no certainty that definitive agreements will be executed, and if executed, whether the conditions for closing of the Transaction will be satisfied. Signing of definitive agreements is conditioned on, among other things, finalizing negotiations and agreement on all the terms. Closing of the Transaction will be conditioned on, among other things, receipt of regulatory approvals and approvals of international organizations corporate approvals of the parties to the Transaction, to the extent necessary. http://www.ariva.de/news/...nterest-in-Diners-Club-Israel-Ltd-5454656
: YAKUM, Israel, August 13, 2015 /PRNewswire/ --
Alon Blue Square Announces Appointment of New Chief Executive Officer 17:55 13.08.15
YAKUM, Israel, August 13, 2015
YAKUM, Israel, August 13, 2015 /PRNewswire/ --
Alon Blue Square Israel Ltd. (NYSE: BSI) (hereinafter: the "Company") announced today, in furtherance of its announcement on August 10, 2015, that its board of directors has approved the appointment of Mr. Israel Yaniv as the Chief Executive Officer of the Company replacing Mr. Avigdor Kaplan, who has been appointed chairman of the board of directors. Following Mr. Kaplan's appointment as the Chairman of the board of directors, Mr. Amit Ben Itzhak resigned as a member of the board of directors.
Mr. Yaniv served as the Chief Executive Officer of the Company's subsidiary, Dor Alon Energy in Israel (1988) Ltd., from 2000 to 2015 and as Chief Executive Officer of Supergaz Ltd., from 1996 to 2000. Mr. Yaniv holds a BSc and MSc in Chemical Engineering from the Technion - Israel Institute of Technology in Haifa.
: Six Month Financial Statements of Mega Retail Ltd.
Have Been Approved; Alon Blue Square is Expected to Record a One-Time Write-Off in Second Quarter Results 22:45 19.08.15
YAKUM, Israel, August 19, 2015
YAKUM, Israel, August 19, 2015 /PRNewswire/ --
Alon Blue Square Israel Ltd. (NYSE: BSI) (hereinafter: the "Company") announced today that the financial statements of its subsidiary Mega Retail Ltd. for the six month period ended June 30, 2015 have been approved. Mega Retail recorded a loss of approximately NIS 55 million attributable to operations at supermarket branches expected to continue operations, and an additional loss of approximately NIS 577 million attributable to one-time write-offs, one-time expenses (including expenses due to efficiency measures), and losses attributable to supermarket branches which ceased operations (out of which the amount of approximately NIS 360 million is due to balance sheet write-offs of goodwill, intangible and fixed assets, that have no current or future effect on the cash flow). The total losses recorded by Mega Retail for the six month period ended June 30, 2015 are approximately NIS 632 million. Since August 1, 2015, Mega is operating according to the Creditor's Arrangement as approved by the District Court. http://www.ariva.de/news/...ite-Off-in-Second-Quarter-Results-5463561
: Alon Blue Square Examining Offers to Purchase
Its Holdings in Blue Square Real Estate Ltd. 20:40 18.01.16
YAKUM, Israel, January 18, 2016
YAKUM, Israel, January 18, 2016 /PRNewswire/ --
Alon Blue Square Israel Ltd. (NYSE: BSI) (the "Company") announced today, in furtherance of its previous announcements, that it had received an number of offers to purchase the Company's holdings in Blue Square Real Estate Ltd. ("BSRE"). The Company is examining the offers and will update the market with further information when it deems disclosure appropriate or necessary.
The Company has not decided whether to sell its holdings in BSRE, and there is no assurance that the Company will complete any transaction to sell its holdings in BSRE.
Alon Blue Square Israel Ltd. (hereinafter: "Alon Blue Square") operates in five reportable operating segments and is the largest retail company in the State of Israel. In the Fueling and Commercial Sites segment, Alon Blue Square through its 63.13% subsidiary, which is listed on the Tel Aviv stock exchange ("TASE"), Dor Alon Energy in Israel (1988) Ltd. is one of the four largest fuel retail companies in Israel based on the number of petrol stations and a leader in the field of convenience stores operating a chain of 211 petrol stations and 220 convenience stores in different formats in Israel. In its supermarket segment, Alon Blue Square is a pioneer in modern food retailing, and its subsidiary, Mega Retail Ltd., currently operates, through court-appointed trustees, 125 supermarkets under different formats, each offering a wide range of food products, "Near Food" products and "Non-Food" products at varying levels of service and pricing. In its "Houseware and textile" segment, Alon Blue Square, through its TASE traded 77.51% subsidiary, Na'aman Group (NV) Ltd. Operates specialist outlets in self-operation and franchises and offers a wide range of "Non-Food" products as retailer and wholesaler. In the Real Estate segment, Alon Blue Square, through its TASE traded 53.92% subsidiary Blue Square Real Estate Ltd., owns, leases and develops income producing commercial properties and projects. In addition, Alon Blue Square operates the issuance and clearance of gift certificates.
This press release contains forward-looking statements within the meaning of safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, plans or projections about our business, our future revenues, expenses and profitability. Forward-looking statements may be, but are not necessarily, identified by the use of forward-looking terminology such as "may," "anticipates," "estimates," "expects," "intends," "plans," "believes," and words and terms of similar substance. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events, results, performance, circumstance and achievements to be materially different from any future events, results, performance, circumstance and achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, the following: the uncertainty of the sale of BSRE on the terms described in this press release or at all; the uncertainty of the success of the plan of recovery and arrangement with debtors, suppliers, service providers and lessors; the effect of the plan of recovery and arrangement on sales in our supermarkets and on the desire of suppliers to continue supplying products or services to our supermarkets; failure to reach a settlement with our bank lenders and holders of our Series C Debentures; the economic conditions in Israel on the sales in our stores and of our products and on our profitability; our ability to compete effectively against low-priced supermarkets, large fuel companies and our other competitors; enactment of new laws and regulations, including the enactment of recommendations of governmental appointed committees and regulations with respect to the procurement of petroleum products by fuel companies and the price of petroleum products that are subject to regulation; quarterly fluctuations in our operating results that may cause volatility of our ADS and share price; fluctuations in the price of petroleum products and increases in excise tax rates imposed on the sale of petroleum products in Israel; risks associated with our dependence on a limited number of key suppliers for products that we sell in our stores; the effect of an increase in the minimum wage in Israel on our operating results; the effect of any actions taken by the Israeli Antitrust Authority on our ability to execute our business strategy and on our profitability; the effect of increases in oil, raw material and product prices in recent years; the effects of damage to our reputation or to the reputation of our store brands due to reports in the media or otherwise; government policies with respect to residential building may have a negative impact on our operations in residential building, and other risks, uncertainties and factors disclosed in our filings with the U.S. Securities and Exchange Commission (SEC), including, but not limited to, risks, uncertainties and factors identified under the heading "Risk Factors" in our annual report on Form 20-F for the year ended December 31, 2014. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except for our ongoing obligations to disclose material information under the applicable securities laws, we undertake no obligation to update the forward-looking information contained in this press release.