To achieve what it wanted, a structure needed the approval of 75% of shareholders, but lost at almost the same rate, given the support of households and institutions in keeping the company in its current format.
Until the last minute, both sides waged a war against the takeover that was considered hostile in real estate rock. In his proposal, the director of the building, Dudu Zabida, claimed that Sela Real Estate’s performance, headed by chairman Shmuel Selvin, falls short of that of the building, and that Sela’s shareholders – including the building itself – are losing out.
Most of Zabida’s allegations were made against Sela’s management company. On the other hand, Sela says that the occupancy rates in the assets of a structure are inferior to theirs, and that Sela’s debt structure is better and even that the management fees are the lowest in the market.
Sela Real Estate stated: “The results of the vote, according to which over 72% of the investors voted in favor of Sela Real Estate’s continued activity as a REIT fund, are a great achievement for Sela’s management and a severe defeat for a building company.
“The fact that an overwhelming majority of households voted against changing the bylaws, thus choosing to reject the purchase offer of a building and continue Sela Real Estate as a REIT fund, indicates their high satisfaction with the company’s management and the fixed dividend payment that Sela, as a REIT fund, is obligated to them.
“The results among institutional investors are also a tremendous expression of confidence in the company. The fact that the institutions have rejected the change in the bylaws indicates that the way and results of Sela’s management – low financing, high occupancy, and dividend distribution – have proven themselves over the years.
“Both private and institutional investors expressed in their vote the fact that REIT funds are a reliable, worthy and important instrument in the real estate market in Israel, and that there is great importance in maintaining it. We thank the investors for their vote, and we will move forward with vigor and renewed vigor. ”
Comments on the article(7):
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7.
The failure is orphaned, the CEO of a structure has to draw conclusions! (LT)
The failure is orphaned
06/01/2021 16:34
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6.
The company has been showing beautiful results for years
anonymous
06/01/2021 16:28
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0I have a long-term one, and when it went down this year because of the corona, I made sure to add.
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5.
Uncontrollable appetite
You
06/01/2021 16:22
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0All the junkies are disgusting.
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4.
This is the price of not examining the issue thoroughly and disparaging the opponent!
Hana
06/01/2021 16:22
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0In the end you lose and the loss burns!
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3.
A stinging loss to the building and to his uncle the CEO in particular
Must not be arrogant
06/01/2021 16:16
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0Everyone thought a rock was in the pocket of a building, but the opposite happened, the price of the arrogance of his uncle, the CEO of a building, cost him dearly!
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2.
A complete failure of Dudu Zvida!
Hates failures
06/01/2021 16:12
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0How much money is poured into legal treatment on expert opinions and the result is zero. In such a situation a CEO goes home!
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1.
Excellent – in 2021 Bochta of dividend (LT)
Shmulik
06/01/2021 16:01
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