SCHEDULE: SHL Telemedicine: Key Shareholder Ownership Update

An amended Schedule 13D filing reveals updated beneficial ownership stakes in SHL Telemedicine Ltd. by Danbar Finance Ltd., Miri Wulkan, and Nir Rotenberg, with Matan Wulkan no longer a reporting person.

Summary

• Danbar Finance Ltd., Miri Wulkan, and Nir Rotenberg have updated their beneficial ownership in SHL Telemedicine Ltd.
• Matan Wulkan, previously a reporting person, is no longer a shareholder or director of Danbar Finance Ltd. and no longer holds voting or dispositive power over the Issuer's shares.
• As of December 3, 2025, Danbar Finance Ltd. beneficially owns 3,165,620 Ordinary Shares, representing 8.5% of the class.
• Miri Wulkan beneficially owns 3,656,148 Ordinary Shares (9.9%), comprising 490,528 directly held and 3,165,620 shared through Danbar.
• Nir Rotenberg beneficially owns 3,341,182 Ordinary Shares (9.0%), comprising 175,562 directly held and 3,165,620 shared through Danbar.
• Recent purchases include 2,374,215 shares by Danbar on December 2, 2025, at CHF 0.60, 367,896 shares by Miri Wulkan on December 2, 2025, at CHF 0.60, and 81,000 shares by Nir Rotenberg on December 2, 2025, at CHF 0.60, and an additional 67,562 shares by Nir Rotenberg on December 4, 2025, at CHF 0.78.

Sentiment

Score: 6

Explanation: The filing indicates continued investment by a significant shareholder group, which is generally positive. However, the departure of a previously reported individual (Matan Wulkan) introduces a minor element of uncertainty, though the overall group's stake remains strong. The purchases at varying prices, including a higher price on Dec 4, suggest ongoing interest.

Positives

• Continued investment by key shareholders (Danbar Finance Ltd., Miri Wulkan, Nir Rotenberg) through recent share purchases, indicating confidence in SHL Telemedicine Ltd.
• The reporting persons have no history of criminal or civil proceedings related to securities laws in the past five years.

Negatives

• Matan Wulkan, a previous reporting person, is no longer involved, which could be interpreted as a reduction in a specific individual's commitment, though the overall group's stake remains significant.

Risks

• Changes in significant shareholder composition or influence could lead to shifts in corporate strategy or governance, potentially impacting other shareholders.
• The concentration of voting and dispositive power within a small group of individuals (Miri Wulkan and Nir Rotenberg through Danbar) could reduce the influence of other shareholders.

Future Outlook

NA

Industry Context

This filing primarily concerns changes in beneficial ownership by a specific group of investors and does not directly provide broader industry context. However, significant ownership changes can signal investor sentiment towards the company within its industry.

Management Changes

Corporate Governance

Legal Proceedings

• None of the Reporting Persons (Danbar Finance Ltd., Miri Wulkan, Nir Rotenberg) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) during the past five years.
• None of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in a judgment, decree, or final order enjoining future violations of, or prohibiting, or mandating activities subject to, federal or state securities laws or a finding of any violation with respect to such laws during the past five years.

Stakeholder Impact

• Shareholders: The updated ownership structure clarifies the significant stakes held by Danbar Finance Ltd., Miri Wulkan, and Nir Rotenberg, potentially influencing perceptions of control and stability. The continued purchases by this group may be seen as a positive signal of confidence.

Key Dates

Recommendation

The filing indicates continued, albeit slightly restructured, significant ownership and recent purchases by a key investor group. While the departure of one individual from the reporting group is noted, the core investors (Danbar, Miri Wulkan, Nir Rotenberg) maintain and have recently increased their stake. This suggests ongoing confidence from these insiders. Without further operational or financial updates from SHL Telemedicine, the information primarily confirms existing investor interest rather than signaling a fundamental shift warranting a strong buy or sell. A 'hold' position is prudent to observe future company performance and strategic direction in light of this ownership stability.

Keywords

SHL Telemedicine, Schedule 13D/A, Beneficial Ownership, Shareholder Update, Danbar Finance, Miri Wulkan, Nir Rotenberg, SEC Filing, Investment, Corporate Governance