Nistec Golan Ltd. Amends Eltek Ltd. Ownership Filing

TL;DR

Nistec Golan Ltd. just updated its Eltek Ltd. stake filing - watch this space.

AI Summary

On June 5, 2024, Nistec Golan Ltd., through Yitzhak Nissan, filed an amendment (No. 8) to its Schedule 13D regarding Eltek Ltd. The filing indicates a change in beneficial ownership of Eltek Ltd.'s ordinary shares, nominal value NIS 3.0 per share.

Why It Matters

This filing signals a potential shift in control or significant stake changes for Eltek Ltd., which could impact its stock price and strategic direction.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in control, introducing uncertainty.

Key Players & Entities

• Nistec Golan Ltd. (company) — Filing entity
• Yitzhak Nissan (person) — Authorized contact for Nistec Golan Ltd.
• ELTEK LTD (company) — Subject company
• Ordinary Shares, nominal value NIS 3.0 per share (security) — Class of securities

FAQ

Filing Documents

• zk2431562.htm (SC 13D/A) — 64KB
• 0001178913-24-001942.txt ( ) — 66KB

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. 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 50.12% of the Issuer's Ordinary Shares as of this date. Mr. Nissan directly owns approximately 2.46% 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) 3,525,424 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 acquired Share Price ($) Gross Consideration ($) 5/23/2024 7,900 12.28 97,014 5/24/2024 6,798 12.12 82,410 5/28/2024 9,300 11.87 110,381 5/29/2024 9,500 12.07 114,654 5/30/2024 7,966 12.12 96,547 5/31/2024 9,200 12.04 110,798 6/3/2024 5,800 11.89 68,972 6/4/2024 5,330 11.86 63,202 6/5/2024 6,810 11.79 80,281 (d) Not applicable. (e) Not applicable. 5

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. 6 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: June 6, 2024 Nistec Golan Ltd. By: /s/ Yizhak Nissan Name: Yitzhak Nissan Title: Chief Executive Officer /s/ Yizhak Nissan Yitzhak Nissan 7

View Full Filing

View this SC 13D/A filing on SEC EDGAR