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Bazan Oil Refineries Ltd. — Share Issue/Capital Change 2026
May 25, 2026
6683_rns_2026-05-25_2c8d694b-12c8-4c0e-8ef2-0ff32afd4dc9.pdf
Share Issue/Capital Change
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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.
Oil Refineries Ltd.
OIL REFINERIES LTD
Number in the Register: 520036658
To: Israel Securities Authority
To: Tel Aviv Stock Exchange Ltd.
T087 (Public)
Filed via MAGNA: 25/05/2026
www.isa.gov.il
www.tase.co.il
Reference: 2026-01-047710
Share capital, grant of rights to purchase shares and the corporation's security registers and changes therein
Regulation 31E of the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970
Regulation 31(a) of the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970
Regulation 31(b1) of the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970
Regulation 32 of the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970
Nature of the change: Allocation and exercise of warrants
Explanation: Briefly describe the nature of the change
Reference numbers of previous reports on the subject: _, _, ____.
- The corporation's securities position after the change:
| Name and type of security | Security No. on the stock exchange | Quantity in registered capital | Issued and paid-up capital | Quantity registered under the name of the registration company | |
|---|---|---|---|---|---|
| Quantity in last report | Current quantity | ||||
| Ordinary share | 2590248 | 4,000,000,010 | 3,223,287,204 | 3,230,854,546 | 3,230,854,536 |
| Dormant shares | 1196302 | 0 | 109,996,894 | 109,996,894 | 109,996,894 |
| BONDS (Series 10') | 2590511 | 0 | 351,862,614 | 351,862,614 | 351,862,614 |
| BONDS (Series 12') | 2590578 | 0 | 925,984,442 | 925,984,442 | 925,984,442 |
| BONDS (Series 13') | 1195346 | 0 | 509,250,000 | 509,250,000 | 509,250,000 |
| BONDS (Series 15') | 1211986 | 0 | 657,232,000 | 657,232,000 | 657,232,000 |
| Option to employees 12/22 | 1195874 | 0 | 1,666,667 | 0 | 0 |
| Warrants to directors 4/24 | 1207570 | 0 | 4,000,000 | 2,666,666 | 0 |
| Option to employees 8/24 | 1212513 | 0 | 56,274,000 | 63,205,667 | 0 |
| Restricted stock units (RSU) for employees | 1225127 | 0 | 4,860,000 | 4,860,000 | 0 |
Explanation: List all of the company's securities, including securities that are not listed for trading.
- The corporation announces that:
☐ On the date ____
☐ From date 20/05/2026 to date 24/05/2026
☐ A change has occurred in the quantity and in the register of security holders (including rights to purchase shares) of the corporation as a result of:
Description of the nature of the change Allocation and exercise of warrants
Explanation: Describe all of the details of the transaction or action which caused the change in the corporation's securities.
Name of the registered holder for whom the change occurred: IBI Trust Management
Type of identification number: Number in the Israeli Companies Register Identification number: 515020428
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.
| Nature of the change: Exercise of warrants __ |
|---|
| Date of change: 20/05/2026Executed through the stock exchange clearing house: Yes |
| Type and name of security in which the change occurred: Warrants to directors 4/24 |
| Security No. on the stock exchange: 1207570 |
| Holder's balance of this security in last report: 4,000,000 |
| Holder's balance of this security after the change: 2,666,666 |
| Total quantity of securities in which there was a decrease/increase: 1,333,334 |
| Is this the grant of rights to purchase shares No |
| Total consideration for securities allocated: __ |
| The stock exchange number of the share that will derive from the exercise of the securities: __ |
| Number of shares to be derived from full exercise/conversion of the securities: __ |
| Total exercise premium to be received from full exercise/conversion of the securities into shares: __ |
| Period in which the securities may be exercised: __ |
| From _until _ |
| The securities allocated will be listed for trading: __ |
| The allocation of said securities is further to _published on __and its reference number is _ |
| ☐ The security has been fully paid up and the consideration has been received in full. |
| ☐ The security has been fully paid up, but the consideration has not been received in full. |
| ☐ Issued for the purpose of an ATM program |
| ☐ Other. |
| Name of the registered holder for whom the change occurred: IBI Trust Management |
| Type of identification number: Number in the Israeli Companies RegisterIdentification number: 515020428 |
| Nature of the change: Exercise of warrants __ |
| Date of change: 20/05/2026Executed through the stock exchange clearing house: Yes |
| Type and name of security in which the change occurred: Option to employees 12/22 |
| Security No. on the stock exchange: 1195874 |
| Holder's balance of this security in last report: 1,666,667 |
| Holder's balance of this security after the change: 0 |
| Total quantity of securities in which there was a decrease/increase: 1,666,667 |
| Is this the grant of rights to purchase shares No |
| Total consideration for securities allocated: __ |
| The stock exchange number of the share that will derive from the exercise of the securities: __ |
| Number of shares to be derived from full exercise/conversion of the securities: __ |
| Total exercise premium to be received from full exercise/conversion of the securities into shares: __ |
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.
| Period in which the securities may be exercised: ___ |
|---|
| From _until _ |
| The securities allocated will be listed for trading: ___ |
| The allocation of said securities is further to _published on ___and its reference number is _ |
| ☐ The security has been fully paid up and the consideration has been received in full. |
| ☐ The security has been fully paid up, but the consideration has not been received in full. |
| ☐ Issued for the purpose of an ATM program |
| ☐ Other. |
| ____ |
| Name of the registered holder for whom the change occurred: IBI Trust Management |
| 3 |
| Type of identification number: Number in the Israeli Companies Register Identification number: 515020428 |
| Nature of the change: Exercise of warrants ___ |
| Date of change: 20/05/2026 Executed through the stock exchange clearing house: Yes |
| Type and name of security in which the change occurred: Option to employees 8/24 |
| Security No. on the stock exchange: 1212513 |
| Holder's balance of this security in last report: 56,274,000 |
| Holder's balance of this security after the change: 44,415,667 |
| Total quantity of securities in which there was a decrease/increase: 11,858,333 |
| Is this the grant of rights to purchase shares No |
| Total consideration for securities allocated: ___ |
| The stock exchange number of the share that will derive from the exercise of the securities: ___ |
| Number of shares to be derived from full exercise/conversion of the securities: ___ |
| Total exercise premium to be received from full exercise/conversion of the securities into shares: |
| ____ |
| Period in which the securities may be exercised: ___ |
| From _until _ |
| The securities allocated will be listed for trading: ___ |
| The allocation of said securities is further to _published on ___and its reference number is _ |
| ☐ The security has been fully paid up and the consideration has been received in full. |
| ☐ The security has been fully paid up, but the consideration has not been received in full. |
| ☐ Issued for the purpose of an ATM program |
| ☐ Other. |
| ____ |
| Name of the registered holder for whom the change occurred: IBI Trust Management |
| 4 |
| Type of identification number: Number in the Israeli Companies Register Identification number: 515020428 |
| Nature of the change: Allocation to employees ___ |
| Date of change: 24/05/2026 Executed through the stock exchange clearing house: No |
| Type and name of security in which the change occurred: Option to employees 8/24 |
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.
Security No. on the stock exchange: 1212513
Holder's balance of this security in last report: 44,415,667
Holder's balance of this security after the change: 63,205,667
Total quantity of securities in which there was a decrease/increase: 18,790,000
Is this the grant of rights to purchase shares No
Total consideration for securities allocated: __
The stock exchange number of the share that will derive from the exercise of the securities: __
Number of shares to be derived from full exercise/conversion of the securities: __
Total exercise premium to be received from full exercise/conversion of the securities into shares:
Period in which the securities may be exercised: __
From _until _
The securities allocated will be listed for trading: __
The allocation of said securities is further to _published on _and its reference number is __
☐ The security has been fully paid up and the consideration has been received in full.
☐ The security has been fully paid up, but the consideration has not been received in full.
☐ Issued for the purpose of an ATM program
☐ Other.
Allocation of employee options
Name of the registered holder for whom the change occurred: Mizrahi Tefahot Registration Company Ltd.
5
Type of identification number: Number in the Israeli Companies Register Identification number: 510422249
Nature of the change: Exercise of warrants __
Date of change: 20/05/2026 Executed through the stock exchange clearing house: Yes
Type and name of security in which the change occurred: Ordinary share
Security No. on the stock exchange: 2590248
Holder's balance of this security in last report: 3,223,287,194
Holder's balance of this security after the change: 3,230,854,536
Total quantity of securities in which there was a decrease/increase: 7,567,342
Is this the grant of rights to purchase shares No
Total consideration for securities allocated: __
The stock exchange number of the share that will derive from the exercise of the securities: __
Number of shares to be derived from full exercise/conversion of the securities: __
Total exercise premium to be received from full exercise/conversion of the securities into shares:
Period in which the securities may be exercised: __
From _until _
The securities allocated will be listed for trading: __
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.
The allocation of said securities is further to _ published on _ and its reference number is _
The security has been fully paid up and the consideration has been received in full.
The security has been fully paid up, but the consideration has not been received in full.
☐ Issued for the purpose of an ATM program
Other.
Explanations:
- If the change affects more than one security, specify the impact of the change on a separate line for each security.
- Date of change - all changes of the same type, in the same security, executed on one day, shall be summarized on one line. For this purpose - distinguish between changes executed through the stock exchange clearing house and changes executed directly in the company's books.
- The change - for a decrease, add the sign "-".
- In all quantity fields, fill in the quantity of securities and not NIS par value.
There was a change only in the corporation's register of security holders (without a change in the quantity of the corporation's securities) as a result of:
Description of the nature of the change
Explanation: Describe all of the details of the transaction or action which caused the change in the register
1 Name of the registered holder for whom the change occurred:
Type of identification number: _ Identification number: _
Date of change: __ Executed through the stock exchange clearing house:
Type and name of security in which the change occurred:
Security No. on the stock exchange:
Quantity of change:
Holder's balance of this security after the change:
- Main share register as of the report date is as follows:
| No. | Name of registered shareholder | Type of identification number | Identification number | Security number on the stock exchange | Type of shares and their par value | Number of shares | Whether holds the shares as trustee |
|---|---|---|---|---|---|---|---|
| 1 | Mizrahi Tefahot Registration Company Ltd. | Number in the Israeli Companies Register | 510422249 | 2590248 | Ordinary share | 3,230,854,536 | No |
| 2 | Kavim Shipping Company Ltd. | Number in the Israeli Companies Register | 520027566 | 2590248 | Ordinary share | 5 | No |
| 3 | Gag Company for Export Enterprises Ltd. | Number in the Israeli Companies Register | 510242142 | 2590248 | Ordinary share | 5 | No |
-
Attached is a file of the share register in accordance with the provisions of Section 130 of the Companies Law, 5759 - 1999
-
Attached is an updated file of the corporation's security registers, including the option holders register and the BONDS holders register Register24052026_isa.pdf
Details of the authorized signatories on behalf of the corporation:
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.
| Name of signatory | Position | |
|---|---|---|
| 1 | Eliyahu Mordoch | Company Secretary |
Explanation: According to Regulation 5 of the Securities Regulations (Periodic and Immediate Reports) (5730 – 1970), a report filed pursuant to these regulations shall be signed by those authorized to sign on behalf of the corporation. The Staff's position on the matter can be found on the Authority's website: Click here.
Reference numbers of previous documents on the subject (the reference does not constitute incorporation by reference):
The corporation's securities are listed for trading on the Tel-Aviv Stock Exchange. Form structure update date: 06/08/2024
Short name: Oil Refineries
Address: P.O.B.4, Haifa3100001 Telephone: 04-8788135, 04-8788115Fax: 073-2928115
Email: [email protected] Company website: https://www.bazan.co.il/
Previous names of reporting entity:
Electronic reporter name: Mordoch Eliyahu Position: Company Secretary Employer company name:
Address: P.O.B.4, Haifa31000 Telephone: 04-8788135Fax: 04-8788741 Email: [email protected]