SCHEDULE: Value Base Group Discloses 10.41% Stake in Audiocodes

Value Base Ltd. and its affiliates have reported a 10.41% beneficial ownership stake in Audiocodes Ltd., totaling 2,790,432 ordinary shares.

Summary

• Value Base Ltd., along with Victor Shamrich, Ido Nouberger, and Value Base Fund Management Ltd., collectively reported beneficial ownership of 2,790,432 ordinary shares of Audiocodes Ltd.
• This represents 10.41% of Audiocodes Ltd.'s outstanding ordinary shares.
• The percentage is based on 26,806,992 ordinary shares outstanding as of February 4, 2026, as reported on Maya, the reporting system used by Israeli public companies.
• The shares are owned directly by Value Base Fund Limited Partnership, a Cayman Islands limited partnership.
• The general partner of Value Base Fund Limited Partnership is Value Base Fund General Partner Ltd., which has delegated its management responsibilities to Value Base Fund Management Ltd.
• Both Value Base Fund General Partner Ltd. and Value Base Fund Management Ltd. are controlled by Value Base Ltd., which in turn is controlled by Messrs. Victor Shamrich and Ido Nouberger.
• The reporting persons certify that the securities were not acquired and are not held for the purpose of changing or influencing the control of Audiocodes Ltd., other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. It is a standard regulatory disclosure of a significant passive ownership stake and does not contain new operational or financial information that would alter sentiment.

Positives

• NA

Negatives

• NA

Risks

• The reporting persons and other entities named in this Schedule 13G may be deemed to constitute a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934, although they disclaim the existence of any such group.

Future Outlook

NA

Management Comments

• "The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."
• "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 routine disclosures for passive investors holding more than 5% of a company's stock. This filing indicates a significant, but passive, institutional stake in Audiocodes Ltd., a company operating in the communications and voice networking industry. Such disclosures provide transparency regarding major shareholders but typically do not signal immediate strategic shifts or competitive actions.

Comparison to Industry Standards

• NA

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• NA

Stakeholder Impact

• Shareholders: Increased transparency regarding a significant institutional holder.
• Management: Awareness of a large passive investor, but no immediate operational impact indicated.

Next Steps

• NA

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of a passive ownership stake and does not provide new information that would warrant a change in investment recommendation. It confirms a significant institutional holding in Audiocodes Ltd. but explicitly states no intent to influence control, suggesting a continuation of the current investment thesis.

Keywords

Audiocodes Ltd, Value Base Ltd, beneficial ownership, Schedule 13G, stake, ordinary shares, M15342104, institutional ownership, equity investment, Israel