Mr. Eyal Lapidot Will Be Appointed CEO of Shikun & Binui

AIRPORT CITY, Israel, April 16, 2019 /PRNewswire/ -- Shikun & Binui Ltd. (TASE: SKBN.TA), a global construction, infrastructure and real estate company, today announced that its Board of Directors approved the appointment of Mr. Eyal Lapidot as CEO of the Group.

Lapidot, who until recently served as CEO of Phoenix, is expected to take up the position as CEO in the coming months.

Tamir Cohen, Chairman of Shikun & Binui, said: "I am pleased to announce the appointment of Eyal Lapidot as CEO and his joining the Shikun & Binui Group. We are confident that Eyal will make a significant contribution to the company and will help it realize its tremendous potential. Eyal comes to us not only with extensive experience in the world of finance, but also in management of large and complex organizations with activities in Israel and abroad.

"Eyal Lapidot has completed 10 years in the Phoenix Insurance Group, in which it has become the leading insurance group in Israel. At the time of his entry into the position, the Company was ranked in most of the business parameters as fifth among the five largest insurance groups in Israel. As of today, and over the past ten years, Phoenix has led the insurance industry in Israel in most parameters.

"We are confident that this is a significant step for Shikun & Binui, and we will work together to bring value to our shareholders."

About the Shikun & Binui Group
The Shikun & Binui Group is a global construction and infrastructure company that operates in Israel and internationally in seven segments: 1) infrastructure and construction contracting outside of Israel; 2) infrastructure and construction contracting within Israel; 3) real estate development within Israel; 4) real estate development outside of Israel; 5) renewable energy; and 6) concessions. The Group's activities focus on large, highly complex projects carried out for entities in private and public sectors with a focus on sustainability.

This summary announcement was prepared solely for the convenience of the reader and does not replace Shikun & Binui Ltd.'s (hereafter - "the Company") full report. The information contained in this announcement is, by its nature, incomplete. All of its contents are provided as a supplement to the Company's report, and are subject to the declarations therein stated. This announcement includes forecasts, assessments, estimates and other information relating to the Company or its subsidiaries, or to other parties or to future events and matters, the extent of whose realization is not certain and is not under the sole control of the Company (forward-looking information, as defined in the Securities Law-1968). The key facts and data serving as the basis for this information are facts and data, among others, related to the current status of the Company and its businesses, facts and data relating to the current status of the operating segments in which the Company engages in its areas of operation, and other macroeconomic facts and data known to the Company on the preparation date of this presentation.

It is understood that forward-looking information does not constitute a fact and is based solely on subjective assessments. Forward-looking information is uncertain and for the most part, is not under the Company's control. The realization or non-realization of the forward-looking information will be influenced, among others, by the risk factors that characterize the Company's operations, as well as developments in the general environment and external factors that impact the Company's operations. The Company's future results and achievements could differ significantly from those presented in this presentation. The Company is not obligated to update or modify the said forecast or assessment, and is not obligated to update this announcement. This announcement does not constitute an offer to purchase the Company's securities or an invitation to receive such offers. An investment in securities in general, and in the Company in particular, carries risk. One must take into account that past data do not necessarily indicate future performance.

IR Contacts:

Inbal Uliansky

External IR
Ehud Helft/Kenny Green
GK Investor Relations

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SOURCE Shikun & Binui Ltd.