SCHEDULE: AudioCodes Ltd. - Beneficial Ownership Filing

Value Base Ltd. and associated entities report beneficial ownership of 11.54% of AudioCodes Ltd. ordinary shares as of March 31, 2026.

Summary

• This filing is an amendment to a Schedule 13G, indicating a change in beneficial ownership reporting for AudioCodes Ltd.
• The reporting persons include Value Base Ltd., Victor Shamrich, Ido Nouberger, and Value Base Fund Management Ltd. (acting for Value Base Fund General Partner Ltd. and Value Base Fund Limited Partnership).
• Collectively, these entities beneficially own 3,093,136 ordinary shares of AudioCodes Ltd.
• This represents 11.54% of the company's outstanding ordinary shares.
• The percentage is based on 26,806,992 ordinary shares outstanding as of March 31, 2026, as reported on Maya.
• The reporting persons are all citizens of or organized under the laws of Israel.
• The filing disclaims beneficial ownership and the existence of a group, though it notes that the reporting persons and other entities may be deemed to constitute a group.
• The shares are directly owned by Value Base Fund Limited Partnership, with Value Base Fund General Partner Ltd. as the general partner, and Value Base Fund Management Ltd. managing responsibilities.
• Value Base Ltd. controls both the General Partner and Management Company, and is controlled by Victor Shamrich and Ido Nouberger.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. It's a routine disclosure of beneficial ownership and does not provide operational or financial performance updates, nor does it indicate any immediate strategic shifts.

Positives

• The reporting entities collectively hold a significant stake (11.54%) in AudioCodes Ltd., indicating substantial investor interest.
• The reporting is up-to-date as of March 31, 2026, providing current ownership information.

Negatives

• The filing explicitly disclaims beneficial ownership and the existence of a group, which could imply a complex ownership structure or a desire to avoid certain regulatory implications.
• The reliance on 'Maya' for outstanding share information is specific to Israeli public companies and may not be universally understood.

Risks

• The disclaimer regarding beneficial ownership and group status could lead to scrutiny regarding the true control and intent behind the shareholding.
• Potential for regulatory review if the 'group' status is contested or if the disclaimers are deemed insufficient.

Future Outlook

This filing does not contain forward-looking statements or guidance. It is a disclosure of beneficial ownership.

Management Comments

• This Statement shall not be construed as an admission by any of the Reporting Persons that it is the beneficial owner of any of the securities covered by this Statement, and each Reporting Person disclaims beneficial ownership of any such securities.
• Neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that a group exists for purposes of Section 13(d) of the Securities Exchange Act of 1934 or for any other purpose, and each of the Reporting Persons and other entities named in this Schedule 13G disclaims the existence of any such group.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are standard disclosures for institutional investors or entities that acquire beneficial ownership of more than 5% of a class of a company's registered securities. This filing indicates a significant passive investment in AudioCodes Ltd. by Value Base Ltd. and associated entities.

Stakeholder Impact

• Shareholders: The filing provides transparency on a significant beneficial owner, which can influence market perception and trading activity.
• Management: The disclosure confirms a substantial passive stake, which management will need to consider in strategic planning.

Next Steps

• The reporting persons will continue to monitor their beneficial ownership of AudioCodes Ltd. shares.
• Further amendments to Schedule 13G will be filed if ownership levels change significantly.

Key Dates

Keywords

AudioCodes Ltd., Schedule 13G, Beneficial Ownership, Value Base Ltd., Victor Shamrich, Ido Nouberger, Ordinary Shares, SEC Filing, Ownership Percentage, Israel