2024-01-21 07:54:00
Yigal Demari invested in the R&D partnership Shore Tech, against the background of the potential in its holdings, especially Bosto which was sold when the partnership’s share in the holding – $22 million exceeds the value of the partnership by several times. But he discovered what the investors in the R&D partnerships have discovered in recent years – these are partnerships The main beneficiary of them is the general partner who determines management fees, success fees and more. A particularly problematic business model which means that even if there are successes, the partnership trades below the equity and the funds-dividends for the holders do not really arrive.
After continuous criticism, mainly from our side, the controlling owners of these partnerships began to back away from the basic idea and start to outline the dissolution of the partnership. It will take a few years, but it will increase the value of the partnerships that have fallen to the order of 20%-30% of their capital. The first to do so was Menara. But not everyone is into it.
Bashor Tech continues to insist on the business model that benefits the general partner and not the investors. Yigal Demari who invested in the partnership prepared for the fight. On Tuesday, there will be a meeting of owners of participation units where the dissolution of the partnership and the appointment of a representative from that group as liquidator will be discussed. It is a step that is not in the accepted way and with the agreement of the partnership itself, but in a struggle as in a struggle – everything is tried. The holders propose attorney Victor Tshuva, who represents them, for the position.
Demari, who owns about 9% of the company’s shares, is dominant in the group, which is estimated to own about 50% of the partnership. The partnership managed by Ran Tsrur, with the chairman being Uzi Danino, is of course opposed to the move.
Mashor-Tech stated: “There is no basis for convening the meeting on behalf of the limited partner, since the decision to dissolve the partnership is not within the authority of the meeting and requires the consent of the general partner. The general partner opposes the dissolution. This will not serve its interests and is only expected to cause it unnecessary expenses.”
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