Real-estate investment in Poland
IPE holds 35% of the shares of a Polish company by the name of TPK-30 Sp.z.o.o., which engaged in a transaction for the acquisition of approximately 227,000 m2 of land under agricultural zoning in the city of Kraków, Poland.
TPK-30 is taking action to obtain rezoning of the Land for the construction of residential housing, a commercial center and a hotel (for all or some of these designations). The Company holds TPK-30 through its 50% stake in a Cypriot company by the name of Sakirouva Holdings Ltd.
Sakirouva holds 70% of the share capital of TPK-30.
Working interest in the “Or” natural gas reservoir
The Company holds a working interest in the “Med Yavne” lease, where the “Or” natural gas reservoir is located, at the rate of approximately 5.5%. For additional details, see Part A of the Periodic Report – “Description of the Company’s Businesses.”
Long-term tradable securities
The Company has a long-term holding of tradable securities.