This Amendment No. 24 (the "Amendment") amends and supplements the Schedule 13D originally filed with the Securities and Exchange Commission October 7, 2002.
Item 1. Security and Issuer.
The Amendment relates to the ordinary shares, NIS 0.10 nominal value per share (the "Ordinary Shares"), of G. Willi-Food International Ltd. (the "Issuer"), an Israeli company with principal executive offices at 4 Nahal Harif St., Yavne 81224, Israel.
Item 2. Identity and Background.
Item 2 of Schedule 13D, “Interest in Securities of the Issuer” is amended and restated to read as follows:
This Amendment to Schedule 13D is being filed jointly by Willi-Food Investments Ltd. ("WIL"), B.S.D. Crown LTD. ("B.S.D."), BGI Investments (1961) Ltd. ("BGI"), Israel 18 B.V. ("Israel 18"), and Mr. Alexander Granovskyi ("AG") (the foregoing, collectively, the "Reporting Persons"). The agreement among the Reporting Persons relating to the joint filing of this Amendment to Schedule 13D is attached as an exhibit hereto.
WIL is controlled by its majority shareholder, B.S.D., which in turn is controlled by BGI (which directly owns 25.1% of B.S.D.'s outstanding shares and holds a power of attorney from its controlling shareholder, Israel 18, to vote an additional 19.0% of B.S.D.'s outstanding shares). BGI is controlled by Israel 18, which owns 71.5% of the outstanding shares in BGI. Israel 18 is controlled by AG, who owns 90% of the priority shares in Israel 18 (which affords AG 90% of its voting rights).
WIL is an Israeli company that acts as a holding company for the shares of the Issuer, which imports and markets food products. The business address of WIL and the Issuer is 4 Nahal Harif St., Northern Industrial Zone, Yavne 81106, Israel. In addition to being the controlling shareholder of WIL, B.S.D., an Israeli company which is traded on the London Stock Exchange (symbol: BSD), is engaged in providing various IT, software and mobile services. Formerly known as Emblaze Ltd., BGI is a holding company incorporated in Israel for holding shares of B.S.D. and other private companies. The business address of both B.S.D. and BGI is 132 Menachem Begin Road, Azrieli Center, Triangle Tower (40th Floor), Tel Aviv 6702301, Israel. Israel 18, which is incorporated in the Netherlands, is a holding company for shares of BGI and B.S.D. Euryton Trust Management B.V., a company incorporated in the Netherlands that provides domiciliary, directorship, accounting and corporate secretarial services for international businesses requiring a corporate presence in the Netherlands, is the sole director of Israel 18. The business address of Israel 18 and of Euryton Trust Management B.V. is Rietlandpark 125, 1019 DT, Amsterdam, the Netherlands. AG serves on the Board of Directors of the Issuer and WIL, and is an active investor with holdings in Israel 18 and various other private businesses in the Ukraine and surrounding countries. A citizen of the Ukraine, his residence or business address is 143/18, Fontanska doroga, Odessa, 65000, Ukraine.
Unless included above, set forth on Schedule I hereto, which is incorporated herein by reference, is the name, present business addresses, principal occupation or employment, name of organization where such employment is conducted, description of the principal business of such organization and citizenship of the directors and executive officers of each Reporting Person.
During the last five years, none of the Reporting Persons nor, to the best of their knowledge, any of the entities or individuals mentioned in this Item 2 or listed on Schedule I hereto, has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding has been or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of Schedule 13D, "Source and Amount of Funds or Other Consideration" is amended by adding the following paragraph:
Working capital of WIL was used to acquire an additional 233,296 Ordinary Shares of the Company in open market purchase transactions on the NASDAQ Capital Market (as described further in Item 5(c)).
Item 4. Purpose of Transaction.
Item 4 of the Schedule 13D, “Purpose of Transaction” is amended by adding the following thereto:
AG was appointed to the Board of Directors of WIL on December 7, 2014, and to the Board of Directors of the Issuer on December 2, 2014.
On November 13, 2014, the Board of Directors of WIL authorized the purchase of up to $5 million of the Issuer's Ordinary Shares. The price per Ordinary Share to be acquired by WIL will not exceed the Issuer's shareholders' equity per Ordinary Share. The timing and amount of share purchases by WIL will be determined by management of WIL based on its evaluation of market conditions, the trading price of the Issuer's shares and other factors. The purchase program may be increased, suspended or discontinued at any time.
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D, “Interest in Securities of the Issuer” is amended and restated to read as follows:
(a) and (b)
As of the date hereof, WIL owns directly (and therefore is considered the beneficial owner of) 7,780,614 Ordinary Shares, or approximately 59.97% of the outstanding Ordinary Shares. Thus, as of the date hereof, WIL may be deemed to have the shared power to vote, or direct the voting of, and the shared power to dispose of, or direct the disposition of, all such shares.
B.S.D. is the controlling shareholder of WIL, BGI is the controlling shareholder of B.S.D., Israel 18 is the controlling shareholder of BGI, and AG is the controlling shareholder of Israel 18. Accordingly, B.S.D., BGI, Israel 18, and AG may be deemed to beneficially own the 7,780,614 Ordinary Shares held directly by WIL.
As of the date hereof, ZW beneficially owns 571,074 Ordinary Shares (or approximately 4.38% of the outstanding Ordinary Shares), consisting of 504,407 Ordinary Shares owned directly and 66,667 Ordinary Shares underlying an option held by ZW to purchase such Ordinary Shares that is currently exercisable or exercisable within 60 days. Thus, as of the date hereof, ZW may be deemed to have the shared power to vote, or direct the voting of, and the shared power to dispose of, or direct the disposition of, all such shares. In addition, ZW granted to B.S.D. an irrevocable proxy with respect to the 571,074 Ordinary Shares that he beneficially owns. As of the date hereof, JW beneficially owns 66,667 Ordinary Shares (or approximately 0.51% of the outstanding Ordinary Shares), consisting of 66,667 Ordinary Shares underlying an option held by JW to purchase such Ordinary Shares that is currently exercisable or exercisable within 60 days. Thus, as of the date hereof, JW may be deemed to have the shared power to vote, or direct the voting of, and the shared power to dispose of, or direct the disposition of, all such shares. In addition, JW granted to B.S.D. an irrevocable proxy with respect to the 66,667 Ordinary Shares that he beneficially owns. Accordingly, B.S.D., BGI, Israel 18, and AG each may be deemed to beneficially own 8,418,355 Ordinary Shares (comprised of 7,780,614 Ordinary Shares directly owned by WIL, 571,074 Ordinary Shares for which B.S.D. holds an irrevocable proxy granted by ZW, and 66,667 Ordinary Shares for which B.S.D. holds an irrevocable proxy granted by JW), or approximately 64.23% of the outstanding Ordinary Shares. Thus, as of the date hereof, B.S.D., BGI, Israel 18, and AG each may be deemed to have the shared power to vote, or direct the voting of, and the shared power to dispose of, or direct the disposition of, all such shares.
Each Reporting Person disclaims beneficial ownership of any Ordinary Shares except to the extent of his or its pecuniary interest therein. Neither the filing of this Amendment to Schedule 13D nor any of its contents shall be deemed to constitute an admission that any Reporting Person is the beneficial owner of the Ordinary Shares referred to herein for purposes of Section 13(d) of the Exchange Act or for any other purpose.
(c) Except as set forth in this Amendment to Schedule 13D, to the best knowledge of the Reporting Persons, none of the Reporting Persons and no other person or entity described in Item 2 of this report has beneficial ownership of any Ordinary Shares.
The following table sets forth all of the transactions in Ordinary Shares by each of the Reporting Persons and any other person or entity described in Item 2 of this report during the past 60 days (such transactions involved open market purchase transactions of Ordinary Shares on the NASDAQ Capital Market):
Date | Purchase of Ordinary Shares by WIL | Purchase of ordinary Shares by B.S.D. | Purchase of Ordinary Shares by BGI | Purchase of Ordinary Shares by AG | Purchase of Ordinary Shares by Israel 18 | Price Per Share * |
11/20/14 | 1,500 | --- | --- | --- | --- | US $6.64 |
11/24/14 | 35,000 | --- | --- | --- | --- | US $6.67 |
11/26/14 | 2,800 | --- | --- | --- | --- | US $7.20 |
12/01/14 | 5,996 | --- | --- | --- | --- | US $7.27 |
12/02/14 | 11,000 | --- | --- | --- | --- | US $7.35 |
12/03/14 | 46,000 | --- | --- | --- | --- | US $7.37 |
12/04/14 | 31,000 | --- | --- | --- | --- | US $7.35 |
12/08/14 | 100,000 | --- | --- | --- | --- | US $7.36 |
(d) No person, other than the Reporting Persons, has the right to receive or the power to direct the receipt of dividend from, or the proceeds from the sale of, the Ordinary Shares referred to in this Item 5.
(e) Not applicable
Percentages set forth in this Amendment to Schedule 13D were calculated based on 12,974,245 Ordinary Shares of the Issuer outstanding as of the date hereof (as provided by the Issuer).
Item 7. Material to be Filed as Exhibits.
Item 7 of Schedule 13D, “Interest in Securities of the Issuer” is amended by adding the following paragraphs:
Exhibits:
| 99.1 | Joint Filing Agreement among the Reporting Persons |
| 99.2 | Extract from the Trade Register of Euryton Trust Management B.V. (incorporated herein by reference to Exhibit 99.2 to Amendment No. 23 to the Schedule 13D filed on June 13, 2014). |
| 99.3 | Agreement Between Emblaze Ltd. and Zwi W. & Co. Ltd., and Yossi Willi Management & Investments Ltd., Y.M. Dekel – Holdings & Investments Ltd., Joseph Williger dated March 2, 2014 (incorporated herein by reference to Exhibit 99.3 to Amendment No. 23 to the Schedule 13D filed on June 13, 2014). |
| 99.4 | Amendment Number 1 dated March 6, 2014 to the Agreement Between Emblaze Ltd. and Zwi W. & Co. Ltd., and Yossi Willi Management & Investments Ltd., Y.M. Dekel – Holdings & Investments Ltd., Joseph Williger (incorporated herein by reference to Exhibit 99.4 to Amendment No. 23 to the Schedule 13D filed on June 13, 2014). |
| 99.5 | Amendment Number 2 dated March 18, 2014 to the Agreement Between Emblaze Ltd. and Zwi W. & Co. Ltd., and Yossi Willi Management & Investments Ltd., Y.M. Dekel – Holdings & Investments Ltd., Joseph Williger (incorporated herein by reference to Exhibit 99.5 to Amendment No. 23 to the Schedule 13D filed on June 13, 2014). |
| 99.6 | Amendment Number 3 dated March 30, 2014 to the Agreement Between Emblaze Ltd. and Zwi W. & Co. Ltd., and Yossi Willi Management & Investments Ltd., Y.M. Dekel – Holdings & Investments Ltd., Joseph Williger (incorporated herein by reference to Exhibit 99.6 to Amendment No. 23 to the Schedule 13D filed on June 13, 2014). |
| 99.7 | Amendment Number 4 dated April 1, 2014 to the Agreement Between Emblaze Ltd. and Zwi W. & Co. Ltd., and Yossi Willi Management & Investments Ltd., Y.M. Dekel – Holdings & Investments Ltd., Joseph Williger (incorporated herein by reference to Exhibit 99.7 to Amendment No. 23 to the Schedule 13D filed on June 13, 2014). |
SIGNATURES
After reasonable inquiry and to the best of the knowledge and belief of the undersigned, each of the undersigned certifies that the information set forth in this Statement is true, correct and complete.
Dated: December 16, 2014 | /s/ Alexander Granovskyi | |
| Alexander Granovskyi | |
| | |
| Israel 18 B.V. | |
| | |
| By: /s/ Euryton Trust Management B.V. | |
| Name: Euryton Trust Management B.V. | |
| Title: Director | |
| | |
| By: /s/ Doron Shamir | |
| Name: Doron Shamir* | |
. | Title: Director | |
| | |
| By: /s/ Alon Elmaliyah | |
| Name: Alon Elmaliyah* | |
| Title: Proxy Holder A | |
| | |
| BGI Investments (1961) Ltd. | |
| | |
| By: /s/ Israel Yossef Schneorson | |
| Name: Israel Yossef Schneorson | |
| Title: Chief Executive Officer | |
| | |
| By: /s/ Eyal Merdler | |
| Name: Eyal Merdler | |
| Title: Chief Financial Officer | |
| B.S.D. Crown Ltd. | |
| | |
| By: /s/ Israel Yossef Schneorson | |
| Name: Israel Yossef Schneorson | |
| Title: Chief Executive Officer | |
| | |
| By: /s/ Eyal Merdler | |
| Name: Eyal Merdler | |
| Title: Chief Financial Officer | |
| | |
| Willi-Food Investments Ltd. | |
| | |
| By: /s/ Joseph Williger | |
| Name: Joseph Williger | |
| Title: Chairman | |
| | |
| By: /s/ Emil Bulilovsky | |
| Name: Emil Bulilovsky | |
| Title: Chief Executive Officer | |
* Evidence of signature authority is filed herein as Exhibit 99.2.