Ellomay Capital Announces Changes in its Principal Shareholders and Board Composition

Core Viewpoint - Ellomay Capital Ltd. has announced the completion of a significant share sale by its principal shareholders to O.Y. Nofar Energy Ltd., resulting in changes to its Board of Directors and the introduction of new independent directors [1][2]. Company Overview - Ellomay Capital Ltd. is a renewable energy and power generator and developer, focusing on projects in Europe, Israel, and the USA. The company is listed on both the NYSE American and the Tel Aviv Stock Exchange [6]. - Since its establishment in 2009, Ellomay has invested in various renewable energy projects, including solar power plants in Spain and Italy, with a total capacity of approximately 335.9 MW in Spain and 38 MW in Italy [7]. Shareholder Changes - The principal shareholders, S. Nechama Investments, Kanir Joint Investments, and Ms. Anat Raphael, sold their combined 45.9% stake in the company to Nofar [1]. - Following the sale, two board members resigned immediately, and the chairman announced his resignation effective 30 days post-sale [2]. New Board Members - Ms. Odelya Ohayon, a strategic leader with over 15 years of experience, has been appointed as a new independent non-executive director. She has a strong background in business strategy and previously held executive roles at Samsung Electronics Israel and other companies [3]. - Mr. Gilad Mamlok, with three decades of experience in finance and healthcare, has also been appointed as a new independent non-executive director. He has held CFO positions in various companies and has extensive experience in capital markets and corporate governance [4]. Leadership Comments - The CEO of Ellomay expressed gratitude to the departing board members for their contributions and welcomed the new directors, highlighting their potential to guide the company towards growth and success [5].