David Fuhrer acquired an additional 11.9% stake in Jerusalem Economy Ltd. (TASE:ECJM) from Summit Real Estate Holdings Ltd. (TASE:SMT) for approximately ILS 260 million on September 14, 2016. About ILS 130 million has been paid on September 15, 2016 upon the transfer of half of the shares, and the balance amounting to approximately ILS 134 million will be paid until September 15, 2017. Until the payment of the consideration balance, half of the shares will be pledged in benefit of Summit Real Estate by way of the deposit in an account of Summit Real Estate.

David Fuhrer completed the acquisition of an additional 2.8% stake in Jerusalem Economy Ltd. (TASE:ECJM) from Summit Real Estate Holdings Ltd. (TASE:SMT) on September 14, 2016.