4 Nov 2019listing compliance notice▼ BadMajor
ISRAMCO INC deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Oct 2019director interest notice● Neutral
ISRAMCO INC Co-Chief Executive Officer Haim Tsuff disposed of 61,679 shares via option/appreciation-right settlement.
25 Oct 2019asset acquisition disposition● NeutralMajor
Isramco reported completing its merger on October 25, 2019: shares were converted into $121.40 cash each (except treasury, buyer-owned and properly appraisal-exercising shares), and the company became an indirect wholly owned subsidiary of Naphtha. It asked NASDAQ to suspend trading and delist the stock, and plans to file to end its SEC reporting. Directors Joseph From, Max Pridgeon, Asaf Yarkoni, Frans Sluiter and Nir Hasson resigned; Haim Tsuff stays, with Amir Sanker and Edy Francis added. This closes the take-private deal announced in May 2019.
25 Oct 2019listing compliance notice● NeutralMajor
ISRAMCO INC's exchange filed to remove a class of its securities from listing.
25 Oct 2019substantial holder notice● Neutral
Naphtha Holding Ltd, Naphtha Israel Petroleum Corporation Ltd, I.O.C. - Israel Oil Company, Ltd, J.O.E.L. Jerusalem Oil Exploration Ltd, Equital Ltd, YHK Investment LP, YHK General Manager Ltd, United Kingsway Ltd, Haim Tsuff reported a ISRAMCO INC shareholding of 2,693,382 shares (100.00% of votes) in a periodic institutional filing.
25 Oct 2019business combination● NeutralMajor
This final amendment to the going-private disclosure reports that on October 22, 2019 stockholders approved the merger, and on October 25, 2019 it closed. Each share was converted into the right to receive $121.40 in cash, and Isramco became an indirect wholly owned subsidiary of Naphtha. Its stock stopped trading on NASDAQ, and the company intends to file to end its SEC registration. This resolves the buyout thread open since May 2019.
11 Oct 2019agm notice● Neutral
ISRAMCO INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
3 Oct 2019agm notice● Neutral
ISRAMCO INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
6 Sept 2019business combination● Neutral
On September 6, 2019, the buyer group and Isramco filed Amendment No. 2 to the going-private disclosure, replacing earlier versions and filed alongside the final proxy statement. It repeats the same terms: $121.40 per share cash, 795,131 shares covered, $96,528,903.40 total value. It mostly points to the proxy for details and shows no change in deal terms.
6 Sept 2019business combination● NeutralMajor
Isramco filed its final proxy statement on September 6, 2019, calling a special meeting for October 22, 2019 to vote on the $121.40-per-share cash merger with the Naphtha group. The board (without Haim Tsuff, who recused himself) recommends voting for it; the filing says the price is about 18.9% above the $102.10 close on March 21, 2018 and about 8.9% above the $111.50 close on May 20, 2019. This moves the buyout from preliminary to final proxy stage and sets the vote date left open earlier. Approval needs at least 75% of the voting stock and a majority of shares held outside the buyer group and Section 16 officers; unvoted shares count as votes against.
22 Aug 2019business combination● Neutral
On August 22, 2019, the buyer group and Isramco filed Amendment No. 1 to the going-private disclosure for the $121.40-per-share merger. It replaces the August 1 version and accompanies an amended preliminary proxy statement. The visible text repeats the same price, share count and valuation as before, so no change in deal terms is shown here. The proxy is still in preliminary form, so the shareholder vote has not yet been set.
9 Aug 2019quarterly activities report● Neutral
ISRAMCO INC reported quarterly revenue of $18.6 million and net income of $2.3 million for the period ended 2019-06-30.
1 Aug 2019business combination● Neutral
On August 1, 2019, Isramco and the buyer group (including Haim Tsuff and the Naphtha, IOC and JOEL entities) filed the required going-private disclosure for the $121.40-per-share merger. It values the deal at $96,528,903.40, covering 795,131 shares that are not held by the buyer group. It mainly points to the proxy statement filed the same day for details, and adds no new terms. This continues the buyout announced in May 2019 and has not yet closed.
20 May 2019business combination● NeutralMajor
On May 20, 2019, Isramco agreed to be bought by entities of the Naphtha group controlled by Haim Tsuff, who owns about 73% of the stock, for $121.40 in cash per share. The board, with Tsuff recused and acting on a special committee's recommendation, backed the deal. It needs 75% of shares plus a majority of shares held outside the buyer group, and the buyers can walk away if more than 8% of shares are dissenting. Either side can end it if it has not closed by February 27, 2020. This is the controlling shareholder's move to buy out the minority holders.
10 May 2019quarterly activities report● Neutral
ISRAMCO INC reported quarterly revenue of $21.0 million and net income of $4.0 million for the period ended 2019-03-31.
9 Nov 2018quarterly activities report● Neutral
ISRAMCO INC reported quarterly revenue of $22.8 million and net income of $6.2 million for the period ended 2018-09-30.
9 Aug 2018quarterly activities report● Neutral
ISRAMCO INC reported quarterly revenue of $20.0 million and net income of $4.7 million for the period ended 2018-06-30.
27 June 2018agm notice● Neutral
ISRAMCO INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
10 May 2018agm notice● Neutral
ISRAMCO INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
10 May 2018quarterly activities report● Neutral
ISRAMCO INC reported quarterly revenue of $17.5 million and net income of $5.0 million for the period ended 2018-03-31.
30 Apr 2018agm notice● Neutral
ISRAMCO INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
21 Mar 2018substantial holder notice● Neutral
Naphtha Holding Ltd, Naphtha Israel Petroleum Corporation Ltd, I.O.C. Israel Oil Company, Ltd, J.O.E.L. Jerusalem Oil Exploration Ltd, Equital Ltd, YHK Investment LP, YHK General Manager Ltd, United Kingsway Ltd, Haim Tsuff reported a ISRAMCO INC shareholding of 1,884,824 shares (69.40% of votes) in a periodic institutional filing.
6 Nov 2017quarterly activities report● Neutral
ISRAMCO INC reported quarterly revenue of $16.6 million and net income of $3.5 million for the period ended 2017-09-30.
9 Aug 2017quarterly activities report● Neutral
ISRAMCO INC reported quarterly revenue of $18.4 million and net income of $4.6 million for the period ended 2017-06-30.
21 June 2017agm notice● Neutral
ISRAMCO INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
9 May 2017quarterly activities report● Neutral
ISRAMCO INC reported quarterly revenue of $14.8 million and net income of $3.2 million for the period ended 2017-03-31.
28 Apr 2017agm notice● Neutral
ISRAMCO INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
12 Apr 2017director interest notice● Neutral
ISRAMCO INC 10%+ owner Naphtha Holding, LTD acquired 16,000 shares and disposed of 7,804 in a set of related equity transactions.
22 Dec 2016director interest notice● Neutral
ISRAMCO INC 10%+ owner Naphtha Holding, LTD sold 5,390 shares.
12 Dec 2016director interest notice● Neutral
ISRAMCO INC 10%+ owner Naphtha Holding, LTD sold 803 shares.