Board & Management
ELBIT SYSTEMS LTD filed this Form 20-F on 03/11/2015
Item 7. Major Shareholders and Related Party Transactions.
We had, as of February 28, 2015, 42,686,372 ordinary shares outstanding
. The following table sets forth specific information as of February 28, 2015, to the best of our knowledge, concerning:
beneficial ownership of more than 5% of our outstanding ordinary shares; and
the number of ordinary shares beneficially owned by all of our executive officers and directors as a group.
Name of Beneficial Owner
Percent of Ordinary Shares
Federmann Enterprises Ltd.
99 Hayarkon Street
c/o 99 Hayarkon Street
Psagot Investment House Ltd., as a group
14 Ahad Ha'am Street
Excellence Investments Ltd., as a group
c/o The Phoenix Insurance Company Ltd.,
Derech Hashalom 53, Tel-Aviv, Israel
All executive officers and directors as a group (25 persons)
The total number of ordinary shares excludes 1,408,921 ordinary shares held by us as treasury shares.
Federmann Enterprises Ltd. (FEL) owns our ordinary shares directly and indirectly through Heris Aktiengesellschaft (Heris) which is controlled by FEL. FEL is controlled by Beit Federmann Ltd. (BFL). BFL is controlled by Beit Bella Ltd. (BBL) and Beit Yekutiel Ltd. (BYL). Michael Federmann is the controlling shareholder of BBL and BYL. He is also the chairman of Elbit Systems’ Board and the chairman of the board and the chief executive officer of FEL. Therefore, Mr. Federmann controls, directly and indirectly, the vote of ordinary shares owned by Heris and FEL.
In connection with FEL’s purchase in 2004 of our ordinary shares from Elron Electronics Industries Ltd., Bank Leumi Le-Israel B.M. (Bank Leumi) provided loans to FEL. To guarantee the loans, FEL pledged an amount of our ordinary shares to Bank Leumi. As of February 28, 2015, 2,150,000 ordinary shares are pledged to Bank Leumi. In connection with FEL’s purchase in 2006 of our ordinary shares from Koor Industries Ltd., Bank Hapoalim B.M. (Bank Hapoalim) provided loans to FEL. To guarantee the loans, FEL pledged an amount of our shares to Bank Hapoalim. As of February 28, 2015, 2,150,000 ordinary shares are pledged to Bank Hapoalim.
The amount of ordinary shares owned by Heris is included in the amount of shares held by FEL as set forth in footnote (2) above.
The group includes Psagot Investment House Ltd. as well as certain of its wholly-owned subsidiaries, primarily mutual and investment funds.
Based on a report filed by Psagot Investment House Ltd. on February 18, 2015 on Form 13-G with the SEC.
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