SCHEDULE 13G/A: Yehuda Kahane Amends Stake in Ituran Location & Control, Disclosing 6.62% Beneficial Ownership
Beneficial Ownership Report
Yehuda Kahane has filed an Amendment No. 10 to Schedule 13G, disclosing a beneficial ownership of 6.62% in Ituran Location & Control Ltd., totaling 1,316,137 ordinary shares.
Summary
- Reporting person Yehuda Kahane filed an Amendment No. 10 to Schedule 13G for Ituran Location & Control Ltd. (ITRN).
- The filing discloses beneficial ownership of 1,316,137 ordinary shares, representing 6.62% of the issuer's outstanding class.
- The ownership structure includes 13,264 ordinary shares directly jointly held by Professor Yehuda Kahane and his wife, Ms. Rivka Kahane.
- An additional 5,782 ordinary shares are directly held by Yehuda Kahane Ltd., a company in which Professor Kahane holds 50% of the shares and may be deemed a controlling person.
- The largest portion, 1,297,091 ordinary shares, is held by Moked Ituran Ltd. (Moked). Yehuda Kahane Ltd. holds approximately 35.13% of Moked, which in turn holds approximately 19.43% of Ituran's share capital.
- Pursuant to a shareholders agreement among Moked's shareholders, Yehuda Kahane Ltd. has the power to direct the disposition of the 1,297,091 shares held by Moked.
- Professor Kahane has sole voting and dispositive power over 19,046 shares and shared voting and dispositive power over 1,316,137 shares.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, providing no explicit positive or negative financial or operational information about the company's performance.
Positives
- The filing confirms a significant beneficial ownership stake of 6.62% by Yehuda Kahane, indicating continued commitment from a key shareholder.
Risks
- The complex ownership structure involving multiple entities (Yehuda Kahane Ltd., Moked Ituran Ltd.) and a shareholders agreement could introduce complexity in understanding ultimate control and decision-making processes.
Future Outlook
The document is a beneficial ownership report and does not contain any forward-looking statements or guidance regarding the company's future outlook.
Industry Context
This filing is a routine disclosure of beneficial ownership and does not provide information related to broader industry trends or competitor analysis.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Shareholder Agreement Reference | The filing incorporates by reference a Shareholder Agreement dated May 28, 1998, and its amendments from September 6, 2005, and September 17, 2014, which govern the power to direct disposition of shares held by Moked Ituran Ltd. | NA | Clarifies the control mechanisms and voting/disposition rights of a significant beneficial owner over a portion of the issuer's shares. |
Related Party Transactions
- The beneficial ownership structure involves Professor Yehuda Kahane, his wife Ms. Rivka Kahane, and entities he controls (Yehuda Kahane Ltd. and Moked Ituran Ltd.), indicating a complex web of related party holdings.
Stakeholder Impact
- Shareholders: Provides transparency regarding the significant beneficial ownership stake and control structure of a major investor, which can influence perceptions of stability and governance.
Key Dates
| Date | Description |
|---|---|
| May 28, 1998 | Date of original Shareholder Agreement, incorporated by reference. |
| September 6, 2005 | Date of first amendment to Shareholder Agreement, incorporated by reference. |
| September 17, 2014 | Date of second amendment to Shareholder Agreement, incorporated by reference. |
| March 16, 2025 | Date of Event Which Requires Filing of this Statement. |
| April 28, 2025 | Date of filing of this Schedule 13G Amendment No. 10. |
Keywords
Ituran Location & Control, Yehuda Kahane, Schedule 13G, Beneficial Ownership, Shareholder, SEC Filing, Moked Ituran Ltd., Corporate Governance
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