Director/PDMR Shareholding
02 Agosto 2007 - 2:00AM
UK Regulatory
2 August 2007
Gold Frost Limited
("Gold Frost" or the "Company")
GOLD FROST ANNOUNCES THE CLOSING OF A STRATEGIC INVESTMENT IN ITS PRINCIPAL
SHAREHOLDER, WILLI-FOOD INVESTMENTS
Zwi Williger to Continue Management of Gold Frost
Gold Frost (LSE:GLF.L), the designer, developer and distributor of kosher
chilled, frozen and dairy food products, announces that, further to the
announcement made on 25 June 2007, the Israeli Anti-trust authorities have
given their approval to the share purchase agreement between Zwi and Joseph
Williger, majority owners of Willi-Food Investments Ltd. (TASE: WLFD)
("Investments"), the indirect principal shareholder of Gold Frost, and Arcadi
Gaydamak, an international businessman.
Zwi and Joseph Williger have sold an aggregate of 3.9 million shares of
Investments, constituting approximately 42% of the current outstanding shares
of Investments, to Arcadi Gaydamak, for an aggregate purchase price of NIS171.3
million (USD40.5 million).
Under the terms of the agreement, Zwi Williger has agreed to continue as CEO of
Investments and its subsidiaries, including Gold Frost.
Investments have, approximately, a 62 per cent. interest in G. Willi-Food
International Ltd., the immediate parent company of Gold Frost. G. Willi-Food
International Ltd. has an interest in 40,000,000 ordinary shares of the
Company, representing 75.7 per cent. of the total voting rights of Gold Frost.
Prior to the Sale, Zwi and Joseph Williger's interest in the Company was as
below:
Total indirect % of indirect
interest in interest in
Gold Frost Gold Frost
Zwi Williger 9,741,420 18.43%
Joseph Williger 3,825,925 7.24%
Following the Sale, Zwi and Joseph Williger's interest in Gold Frost are as
follows:
Total indirect % of indirect
interest in interest in
Gold Frost Gold Frost
Zwi Williger 2,634,525 4.98%
Joseph Williger 449,244 0.85%
Enquiries:
Gold Frost Ltd
Zwi Williger, Chief Executive Officer +972 544 324924
Blue Oar Securities Plc +44 20 7448 4400
Rhod Cruwys / David Seal / Jerry Keen
Notes to Editors:
Gold Frost is a designer, developer and distributor of branded kosher dairy
food products with 20 varieties of products currently on sale in Israel. The
Company possesses proven R&D capability for "koshering" chilled, frozen, diary
and other products, a number of which have a health advantage by virtue of
being low in fat and cholesterol.
END
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