Legal Proceedings Report • Sep 7, 2025
Legal Proceedings Report
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This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.
Registration Number: 510381601
To: Israel Securities Authority To: Tel Aviv Stock Exchange Ltd. Form Number: T121 (Public) Sent via MAGNA: 07/09/2025 Israel Securities Authority Email: www.isa.gov.il Tel Aviv Stock Exchange Email: www.tase.co.il Reference: 2025-01-067270
Corrective report for a faulty report sent on 07/09/2025 with reference number: 2025-01-067239
The error: The date it was first known.
Reason for the error: Clerical error.
Main corrections: The date it was first known has been corrected.
Explanation: Do not use this form when there is a form tailored to the reported event.
This reporting form is intended for material reports for which there is no suitable dedicated form.
Results of an issuance should be reported in T20 and not in this form.
Reporting on bond ratings or corporate ratings should be submitted using form T125.
Nature of the event: Update regarding the filing of a lawsuit
Reference numbers of previous reports on the subject: _________, _________, _________.
This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.
Further to the provisions of section 3YB in the company's Board of Directors report as of June 30, 2025, as reported on August 27, 2025 (Reference No.: 2025-01-064060) (the contents of which are included in this report by reference), regarding a statement of claim received by a subsidiary of Ashtrom Renewable Energy Ltd., incorporated in the USA (hereinafter: "the subsidiary"), which was filed by OnPeak Power LLC (hereinafter: "OnPeak"), a development company with which the subsidiary entered into agreements for the purchase of rights and provision of development services in relation to solar projects in the USA (hereinafter: "the agreements"), the company is honored to update that on September 4, 2025, the subsidiary filed a counterclaim with the court in the State of New York, USA, in the amount of approximately 174 million US dollars, against OnPeak. The main grounds are OnPeak's breach of the exclusivity right it committed to the subsidiary, which was anchored in the agreements, breaches and failures by OnPeak regarding its responsibilities and obligations for the projects it developed for the subsidiary, failure to obtain some of the required approvals for the projects on time, and failure to perform development actions required and committed by OnPeak to the subsidiary, as well as additional breaches of the aforementioned agreements.
Attached file: _________
The company is not a shell company as defined in the stock exchange regulations.
| # | Name | Position |
|---|---|---|
| 1 | Avraham Nussbaum |
Chairman of the Board |
| 2 | Gil Gillon |
CEO and Director |
Explanation: According to Regulation 5 of the Periodic and Immediate Reports Regulations (1970), a report submitted under these regulations must be signed by those authorized to sign on behalf of the corporation. Staff position on the matter can be found on the Authority's website: Click here.
Reference numbers of previous documents on the subject (the mention does not constitute inclusion by reference):
This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.
Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange
Address: HaYarkon 3, Bnei Brak 5120124 Phone: 03-6231399, Fax: 03-6231401
Email: [email protected] Company website: http://www.ashtrom.co.il/
Electronic reporter name: Ehud (Udi) Efron Position: External Legal Advisor Employer company name: M. Firon & Co., Advocates Address: HaShlosha 2, Tel Aviv 6706054 Phone: 03-7540063, Fax: 03-7540011 Email: [email protected]
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