SCHEDULE 13G/A: Major Shareholder Izzy Sheratzky Amends Ituran Location & Control Ltd. Ownership Filing, Disclosing 19.85% Stake
Beneficial Ownership Report
Izzy Sheratzky, a controlling person of Moked Ituran Ltd., has filed an amendment to his Schedule 13G, reporting beneficial ownership of 19.85% of Ituran Location & Control Ltd.'s ordinary shares as of December 31, 2024.
Summary
- Izzy Sheratzky, an Israeli citizen, filed an Amendment No. 11 to Schedule 13G regarding his beneficial ownership in Ituran Location & Control Ltd.
- As of December 31, 2024, Mr. Sheratzky beneficially owns 4,077,317 ordinary shares, representing 19.85% of the issuer's outstanding ordinary shares.
- This ownership includes 1,365 shares directly held by his wife, Maddie Sheratzky, and 4,075,952 shares held by Moked Ituran Ltd.
- Mr. Sheratzky is the controlling person of Moked Services, Information, Management and Investments Ltd, which holds 38% of the share capital and 51.4% of the voting rights of Moked Ituran Ltd.
- Due to his control over Moked and a shareholders' agreement, Mr. Sheratzky is deemed to have shared voting and dispositive power over all 4,077,317 shares.
Sentiment
Score: 5
Explanation: Neutral. This is a routine beneficial ownership filing (Amendment No. 11) confirming a significant, stable shareholder stake. It does not contain financial performance or strategic announcements that would typically shift sentiment.
Positives
- The filing confirms a significant and stable ownership stake by a key individual, Izzy Sheratzky, indicating continued commitment to the company.
Future Outlook
N/A
Industry Context
This Schedule 13G filing is a routine disclosure of beneficial ownership and does not provide specific insights into broader industry trends or competitive landscape for Ituran Location & Control Ltd.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Existing Agreement Impact | Mr. Sheratzky's shared voting and dispositive power over Moked Ituran Ltd.'s shares is based on a shareholders' agreement among Moked's shareholders, which has been incorporated by reference. | N/A | This agreement consolidates control over a significant block of shares (19.85%) under Mr. Sheratzky, indicating stable governance related to this stake. |
Related Party Transactions
- Ownership includes shares held by Mr. Sheratzky's wife, Maddie Sheratzky (1,365 shares), and shares held by Moked Ituran Ltd. (4,075,952 shares), where Mr. Sheratzky is the controlling person of a key shareholder (Moked Services, Information, Management and Investments Ltd) of Moked Ituran Ltd.
Stakeholder Impact
- Shareholders: Confirms a significant, stable ownership stake by a controlling person, which can imply stability in governance for this block of shares.
Key Dates
| Date | Description |
|---|---|
| 1998-05-28 | Original Shareholders agreement date. |
| 2005-09-06 | First amendment to Shareholders agreement. |
| 2014-09-17 | Second amendment to Shareholders agreement. |
| 2024-12-31 | Date of event requiring the filing of this statement (reporting date for ownership). |
| 2025-02-12 | Date of filing/signature of the Schedule 13G Amendment No. 11. |
Keywords
Ituran Location & Control Ltd., Izzy Sheratzky, Schedule 13G, Beneficial Ownership, Shareholder, Moked Ituran Ltd., Ordinary Shares, SEC Filing, Corporate Governance, Israel
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.