YAVNE, Israel, February 18, 2016 /PRNewswire/ --
G. Willi-Food International Ltd. (NASDAQ: WILC) (the "Company"
or "Willi-Food"), a global company that specializes in the
development, marketing and international distribution of kosher
foods, announced today that as a result of suspicions of certain
breaches of Israeli securities laws and criminal offenses, the
Israel Securities Authority ("ISA") initiated an
investigation. The ISA conducted a search on February 17, 2016 at the offices of the Company,
and the offices of its Parent Company, Willi-Food Investments Ltd.,
BSD Crown Ltd., and B.G.I Investments (1961) Ltd. (the
"Group"), during which certain computers and other materials
were seized by the ISA. Similarly, a number of officers and
directors within the Group are being questioned by the ISA, and the
chairman of our board of directors and the indirect controlling
shareholder of the Group, Mr. Gregory
Gurtovoy, has been detained.
The Group is not a party to these proceedings. The Company will
continue to provide updates to the market as required by applicable
law.
ABOUT G. WILLI-FOOD INTERNATIONAL LTD.
G. Willi-Food International Ltd. (http://www.willi-food.com) is
an Israeli-based company specializing in high-quality,
great-tasting kosher food products. Willi-Food is engaged directly
and through its subsidiaries in the design, import, marketing and
distribution of over 600 food products worldwide. As one of
Israel's leading food importers,
Willi-Food markets and sells its food products to over 1,500
customers in Israel and around the
world including large retail and private supermarket chains,
wholesalers and institutional consumers. The company's operating
divisions include Willi-Food in Israel and Gold Frost, a wholly owned
subsidiary who designs, develops and distributes branded kosher,
dairy-food products.
FORWARD LOOKING STATEMENT
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 sales, 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: monetary risks including changes in marketable
securities or changes in currency exchange rates- especially 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, increase or
decrease in global purchase prices of food products, 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
changes in consumer preferences, our inability to protect our
intellectual property rights, our inability to successfully
integrate our recent acquisitions, insurance coverage not
sufficient enough to cover losses of product liability claims 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, 2014, filed with
the Securities and Exchange Commission on April 30, 2015. 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.
Pavel Buber, Chief Financial Officer
+972-8-932-1000
pavel@willi-food.co.il
SOURCE G. Willi-Food International Ltd.