Eltek's Controlling Shareholder, Yitzhak Nissan, Increases His Holdings in the Company to 56.6%

Jun 07, 2016, 05:36 ET from Eltek Ltd.

PETACH-TIKVA, Israel, June 7, 2016 /PRNewswire/ --

Eltek Ltd. (NASDAQ: ELTK), a global manufacturer and supplier of technologically advanced solutions in the field of Printed Circuit Boards, announced today that on June 2, 2016, Mr. Yitzhak Nissan, the Company's Chairman of the Board, CEO and controlling shareholder, acquired on the market 620,142 ordinary shares of the Company, at a price of $0.94 per share, or $582,933 in total. Following this acquisition, Mr. Nissan beneficially owns 56.6% of the Company's share capital (increased from 50.5%).

Mr. Yitzhak Nissan stated: "This reflects my long-term commitment to Eltek's growth and future success."

About Eltek 

Eltek is a global manufacturer and supplier of technologically advanced solutions in the field of Printed Circuit Boards, and is the Israeli leader in this industry. PCBs are the core circuitry of most electronic devices. Eltek specializes in the manufacture and supply of complex and high quality PCBs, HDI, multilayered and flex-rigid boards for the high-end market. Eltek has ITAR, AS-9100 and NADCAP Electronics permits and its customers include top of the line companies in the defense, aerospace and medical industries in Israel, the United States, Europe and Asia.

Eltek was founded in 1970. The Company's headquarters, and R&D, Production and Marketing Center is located in Israel. Eltek operates also through its subsidiaries, Eltek USA (100%) in North America and Kubatronik (79%) in Europe and by agents and distributors in Europe, India, South Africa and South America.

For additional information, visit Eltek's web site at http://www.nisteceltek.com.

Investor Contact:
Meirav Bauer
KM Investor relations
Tel: +972-3-5167620
meiravb@km-ir.co.il
http://www.km-ir.co.il

Amnon Shemer
Chief Financial Officer
amnons@nisteceltek.com
+972-3-9395023

SOURCE Eltek Ltd.