HBL – Hadasit Bio-Holdings Ltd.
March 21, 2015
Securities Authority Tel Aviv Stock Exchange Ltd.
Re: Amendment of Enlivex’s Reports
Further to the quarterly financial statements published by the Company on August 28, 2014 and November 23, 2014 (reference nos.: 2014-01-145554 and 2014-01-201474, respectively), the Company would like to provide notice that during the preparation of the financial statements as of December 31, 2014 of Enlivex Therapeutics Ltd. (hereinafter: “Enlivex”), a company held at a rate of 25.83% by the Company, handled with the equity methods and whose reports are attached to the Company’s reports, Enlivex decided to classify convertible loans issued in the framework of a transaction dated May 18, 2014 as part of the capital in accordance with the provisions of International Accounting Standard 32 “Financial Instruments: Presentation” instead of classifying them as a financial liability, as performed in its financial statements as of June 30, 2014 and September 30, 2014 that originally published.
Therefore, the aforesaid financial statements have been amended, and the amended statements are attached to this immediate report.
The management of the Company has examined the materiality of the impact of the aforesaid amendment with respect to the Company’s financial statements as of June 30, 2014 and September 30, 2014 and the periods ending on the same dates, taking into account quantitative and qualitative tests and considerations, including the guidelines for examining materiality of an error in financial statements, set forth in the update to decision no. 99-4 of the staff of the Securities Authority. In accordance with the examination periods, the impacts on the Company’s financial statements for the aforesaid dates and periods is immaterial and does not require amendment of the Company’s reports.
HBC – Hadasit Bio-Holdings Ltd.
By: Ms. Tamar Kfir, CEO