SCHEDULE 13G/A: Yehuda Kahane Discloses 7.06% Beneficial Ownership in Ituran Location & Control Ltd.
Beneficial Ownership Report
Yehuda Kahane has filed an amended Schedule 13G, reporting a beneficial ownership of 7.06% in Ituran Location & Control Ltd., totaling 1,451,137 ordinary shares as of December 31, 2024.
Summary
- Yehuda Kahane beneficially owns 1,451,137 ordinary shares of Ituran Location & Control Ltd.
- This ownership represents 7.06% of the issuer's outstanding ordinary shares.
- The shares are held through a combination of direct joint ownership with his wife (13,264 shares), direct ownership by Yehuda Kahane Ltd. (5,782 shares), and indirect ownership through Moked Ituran Ltd. (1,432,091 shares).
- Professor Kahane is deemed a controlling person of Yehuda Kahane Ltd., which holds approximately 26% of Moked Ituran Ltd.
- Through a shareholders agreement, Yehuda Kahane Ltd. has the power to direct the disposition of the 1,432,091 shares held by Moked Ituran Ltd.
- Professor Kahane has sole voting and dispositive power over 19,046 shares.
- Professor Kahane has shared voting and dispositive power over the entire 1,451,137 beneficially owned shares.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the company's performance or outlook.
Industry Context
This filing is a routine disclosure of beneficial ownership, common in the financial industry for transparency regarding significant shareholder stakes. It provides insight into the ownership structure of Ituran Location & Control Ltd., a company likely operating in the location and control technology sector, and the influence of key individuals or entities.
Related Party Transactions
- The beneficial ownership includes shares held jointly by Professor Yehuda Kahane and his wife, Ms. Rivka Kahane.
- Shares are also held by Yehuda Kahane Ltd., a company where Professor Kahane holds 50% and is deemed a controlling person.
- A significant portion of shares are held by Moked Ituran Ltd., in which Yehuda Kahane Ltd. holds approximately 26%, and a shareholders agreement grants Yehuda Kahane Ltd. power to direct disposition of these shares.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant beneficial owner and the complex ownership structure, which can influence perceptions of control and stability.
- Regulatory Authorities: Fulfills SEC disclosure requirements, ensuring compliance and market transparency.
Key Dates
| Date | Description |
|---|---|
| 1998-05-28 | Original Shareholder Agreement date, incorporated by reference. |
| 2005-09-06 | First amendment to Shareholder Agreement, incorporated by reference. |
| 2014-09-17 | Second amendment to Shareholder Agreement, incorporated by reference. |
| 2024-12-31 | Date of event which requires filing of this statement. |
| 2025-02-12 | Date of filing of this Schedule 13G Amendment No. 9. |
Keywords
Ituran Location & Control Ltd., Yehuda Kahane, Schedule 13G, Beneficial Ownership, Shareholder, SEC Filing, Moked Ituran Ltd., Corporate Governance, Ownership Structure
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