Nistec Golan Amends ELTEK Stake, Yitzhak Nissan Noted

TL;DR

**Nistec Golan just updated its ELTEK LTD. ownership, keep an eye on this major holder!**

AI Summary

Nistec Golan Ltd. filed an Amendment No. 7 to its Schedule 13D on January 4, 2024, regarding its ownership in ELTEK LTD. This filing updates previous disclosures about Nistec Golan's stake in ELTEK's Ordinary Shares, nominal value NIS 3.0 per share. This matters to investors because it provides current information on a significant shareholder's position, which can influence stock price and corporate governance, especially given that Yitzhak Nissan is associated with Nistec Golan Ltd. and is also a group member in the filing.

Why It Matters

This filing updates the public record on a major shareholder's position in ELTEK LTD., which can signal potential future actions like further accumulation or divestment, impacting stock volatility and investor sentiment.

Risk Assessment

Risk Level: medium — Changes in significant shareholder positions can introduce volatility and uncertainty regarding future corporate control or strategic direction.

Analyst Insight

Investors should monitor future filings from Nistec Golan Ltd. for any further changes in their ownership percentage or stated intentions, as this could signal strategic shifts for ELTEK LTD.

Key Numbers

• Amendment No. 7 — Amendment Number (Indicates this is the seventh update to the original Schedule 13D filing by Nistec Golan Ltd.)
• January 4, 2024 — Date of Event (The date of the event requiring this filing, indicating the recency of the information.)
• 005-53203 — SEC File Number (The specific identification number for ELTEK LTD.'s filings with the SEC.)

Key Players & Entities

• Nistec Golan Ltd. (company) — the filing person and a significant shareholder of ELTEK LTD.
• ELTEK LTD. (company) — the subject company whose securities are being reported
• Yitzhak Nissan (person) — Attention person for Nistec Golan Ltd. and a group member in the filing
• NIS 3.0 (dollar_amount) — nominal value per Ordinary Share of ELTEK LTD.

Forward-Looking Statements

• Nistec Golan Ltd. will continue to be a significant influence on ELTEK LTD.'s corporate decisions. (Nistec Golan Ltd.) — high confidence, target: 2025-01-04

FAQ

Filing Documents

• zk2430741.htm (SC 13D/A) — 186KB
• 0001178913-24-000064.txt ( ) — 188KB

Securities and Issuer

Item 1. Securities and Issuer The class of equity securities to which this Amendment relates is the Shares of the Issuer, whose principal executive offices are located at 20 Ben Zion Gelis Street, Sgoola Industrial Zone, Petach Tikva, Israel.

Identity and Background

Item 2. Identity and Background. This Statement on Schedule 13D/A is being filed by Mr. Nissan, and Nistec Golan, a private company incorporated under the laws of the State of Israel and controlled by Mr. Nissan. Mr. Nissan is an Israeli citizen and the Chief Executive Officer and Chairman of the Board of Nistec Golan. The principal business address of the Reporting Persons is 43 Hasivim Street, Petach Tikva, Israel. Mr. Nissan serves as the Chairman of the Board of Directors of the Issuer. Mr. Nissan individually owns 165,224 Ordinary Shares. During the past five years, none of the Reporting Persons or any of Nistec Golan's directors and executives, have been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, as a result of which proceeding it was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, United States federal or State, or Israeli, securities laws, or finding any violation with respect to such laws.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration. Personal funds, sales in the open market, and under a 10b5-1 sale plan. 4

Purpose of Transaction

Item 4. Purpose of Transaction. Nistec Golan and Mr. Nissan originally acquired the Shares for investment purposes. The Reporting Persons intend to review the investment in the Issuer on a regular basis. The Reporting Persons reserve the right to, without limitation, purchase, hold, vote, trade, dispose of or otherwise deal in the ordinary shares of the Issuer, in open market or private transactions, block sales or purchases or otherwise, and at such times as they deem advisable to benefit from, among other things, changes in market prices of the Shares or changes in the Issuer's operations, business strategy or prospects, or from the sale or merger of the Issuer. In order to evaluate the investment, the Reporting Persons may routinely monitor the price per share of the Shares as well as the Issuer's business, assets, operations, financial condition, prospects, business development, management, competitive and strategic matters, capital structure and prevailing market conditions, as well as alternative investment opportunities, liquidity requirements and other investment considerations. Such factors may materially affect the Reporting Persons investment purpose and may result in modifying their ownership of the Shares. Further, the Reporting Persons reserve the right to revise their plans or intentions and/or to formulate other plans, and take any and all actions with respect to their investment in the Issuer they may deem appropriate, including any or all of the actions set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D/A, or acquire additional ordinary shares or dispose of some or all of the Shares beneficially owned by the Reporting Persons , in open market or private transactions, block sales or purchases or otherwise, in each case, to maximize the value of their investment in the Issuer in light of its general investment policies, market conditions and subsequent developments affecting the Issuer. The Reporting Persons may at any time reconsi

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. Mr. Nissan controls Nistec Golan. The power to vote or dispose of the shares beneficially owned by Nistec Golan is not shared. (a) Nistec Golan beneficially owns approximately 56.58% of the Issuer's Ordinary Shares as of this date. Mr. Nissan directly owns approximately 2.79% of the Issuer's Ordinary Shares as of this date. (b) Mr. Nissan may be deemed to possess the sole power or shared power to vote (or direct the vote of) 3,511,360 shares of the Issuer's Ordinary Shares. (c) Transactions in the class of securities reported on that were effected during the past sixty days: Date of Sale Number of Ordinary Shares sold Share Price ($) Gross Proceeds($) 11/6/2023 3,067 9.76 29,940 11/7/2023 2,900 10.16 29,468 11/7/2023 265 10.58 2,804 11/8/2023 800 10.39 8,315 11/8/2023 91 10.50 956 5 11/9/2023 2,315 11.07 25,621 11/9/2023 2,300 11.07 25,454 11/10/2023 900 11.32 10,184 11/10/2023 900 11.29 10,163 11/13/2023 3,800 11.16 42,405 11/13/2023 3,800 11.16 42,400 11/13/2023 1,200 11.62 13,944 11/14/2023 3,600 11.28 40,616 11/14/2023 3,600 11.27 40,589 11/14/2023 700 11.60 8,122 11/15/2023 2,458 11.79 28,986 11/15/2023 3,786 11.79 44,647 11/15/2023 3,633 11.79 42,830 11/16/2023 6,350 11.55 73,341 11/16/2023 2,751 11.91 32,767 11/17/2023 5,600 12.46 69,769 11/17/2023 5,700 12.46 70,999 11/20/2023 10,100 12.71 128,356 11/20/2023 10,043 12.71 127,624 11/21/2023 5,175 13.54 70,057 11/21/2023 5,198 13.53 70,328 11/22/2023 4,707 12.55 59,059 11/22/2023 4,700 12.55 58,988 11/24/2023 4,525 13.55 61,319 11/24/2023 4,500 13.56 60,998 6 11/27/2023 4,202 13.47 56,604 11/27/2023 4,202 13.47 56,604 11/27/2023 4,202 13.47 56,604 11/28/2023 4,209 12.40 52,191 11/28/2023 4,209 12.40 52,191 11/28/2023 1,841 12.73 23,436 11/29/2023 2,387 12.22 29,174 11/29/2023 2,400 12.24 29,365 11/29/202

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Not applicable. Items 7. Material to be Filed as Exhibits. Not applicable. 10 SIGNATURE After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct. Date: January 4, 2024 Nistec Golan Ltd. By: /s/ Yizhak Nissan Name: Yitzhak Nissan Title: Chief Executive Officer /s/ Yizhak Nissan Yitzhak Nissan 11

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