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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Max Stock Limited Provides Notice to Investors

June 25, 2021 GMT

CEASAREA, Israel--(BUSINESS WIRE)--Jun 25, 2021--

Max Stock Limited (TASE: MAXO) (the “Company”) today announced that based on information received from its shareholders, Israeli institutional investors including Phoenix Insurance, one of the leading insurance companies in Israel, acquired a stake of approximately 11% in Max Stock. The ultimate seller of almost all the shares was an Australian company owned by Riki Neumann, whose shares were held in trust by Oria and Iris Ltd., a company owned by Evan Charles Neumann. Riki Neumann was a passive investor in Max Stock and after this sale no longer owns any shares in Max Stock.

Evan Neumann continues to hold approximately 5% of the shares in Max Stock and serve as a Co-CEO and director of the Company.

About Max Stock

Max Stock is a leading general discount retailer of everyday essential items in Israel. We offer a broad selection of merchandise across six major categories, operating 52 stores across the country. For more information, please visit https://ir.maxstock.co.il

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View source version on businesswire.com:https://www.businesswire.com/news/home/20210625005420/en/

CONTACT: Ifat Nir Katz,

General Counsel & Company Secretary

ifat@maxstock.co.il

KEYWORD: ISRAEL MIDDLE EAST

INDUSTRY KEYWORD: FASHION ONLINE RETAIL RETAIL OTHER RETAIL DEPARTMENT STORES HOME GOODS

SOURCE: Max Stock Limited

Copyright Business Wire 2021.

PUB: 06/25/2021 01:05 PM/DISC: 06/25/2021 01:06 PM

http://www.businesswire.com/news/home/20210625005420/en