ELECTRA CONSUMER PRODUCTS (1970) LTD
Registration Number
520039967
To:
- The Israel Securities Authority
- The Tel Aviv Stock Exchange Ltd.
- Form Number: T136 (Public)
- Transmitted in MAGNA: 26/11/2025
- Reference: 2025-01-092570
Immediate Report on Related Party Transaction with Controlling Shareholder or Director Not Requiring General Meeting Approval
Regulation 37A(5) of the Securities Regulations (Periodic and Immediate Reports), 2006
Previous Related Reference Numbers:
_________, _________, _________.
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- This report is filed regarding the approval of a transaction pursuant to Regulation 1 of the Companies Regulations (Relief in Transactions with Interested Parties), 2000.
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- Date of transaction approval by the Board of Directors:
26/11/2025.
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.
3. Summary of the transaction and main reasons provided by the Board of Directors and Audit Committee for its approval:
The company is honored to announce that the company's Board of Directors approved, following review and approval by the Audit Committee, the company's participation—as a subsidiary of ELCO LTD—in the allocation of liability insurance premiums (product liability insurance, third-party insurance, professional liability insurance, umbrella insurance, and fidelity insurance) among companies in the ELCO group for a period of 17 months from July 1, 2025, to November 30, 2026. This allocation is based on an analysis conducted by the group's insurance consultants, relying, among other factors, on the parameters detailed in an opinion letter, including the actual claim ratios of the various companies and their business volumes.
The Audit Committee and the company Board of Directors found that the proposed insurance terms for the company do not differ materially from those proposed to ELCO LTD, the controlling shareholder of the company, and the other group companies, considering each company's proportional part as determined by the recommendations of external and independent advisors.
Additionally, the company's share in the distribution of liability insurance premiums among companies in the ELCO group is fair and correct, benefitting from economies of scale and resulting in lower premium costs compared to the scenario in which the company would procure such liability insurances independently rather than as part of the group. Accordingly, it was determined that the
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4. Summary of the Government Companies Authority opinion and main decisions of the
Ministerial Committee for Privatization or an explanation of the exemption provided (if
applicable): |
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| Explanation: To be filled if this is an extraordinary transaction of a government-controlled public company. |
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Details of the Authorized Signatories on behalf of the Corporation:
| # |
Name |
Position |
| 1 |
Tzvika Schwimmer |
Chief Executive Officer |
| 2 |
Liat Shoham |
Chief Financial Officer |
Explanation: According to Regulation 5 of Periodic and Immediate Reports Regulations (1970), a report filed according to these regulations must be signed by the individuals authorized to sign on behalf of the corporation. Staff's position can be found on the authority's website: click here
Previous Document Reference Numbers (the mention does not constitute incorporation by reference):
Securities of the company are listed for trading on the Tel Aviv Stock Exchange
Short Name: Electra Consumer
Company Address
Yosef Sapir 1, Rishon LeZion 7570460
Phone: 03-9530920 Fax: 03-9612664
Email: [email protected] Website: www.electra-consumer.co.il
Previous Names of the Reporting Entity:
Elco Properties Ltd, Electra Consumer Products Ltd, Electra Industries 1970 Ltd
Electronic Reporter Name:
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.
Merav Kainan Wagner
Position: External Legal Advisor
Employer: Goldfarb Seligman & Co., Attorneys
Address: Yigal Alon 98, Tel Aviv 6789141
Phone: 03-6089816 Fax: 03-6089908
Email: [email protected]
Note:
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