From Globes (stress mine):
Haredi (ultra-orthodox) investor Chaim Lebovitz has sold his 21.5% stake in Shemen Oil and Gas Resources Ltd. (TASE: SMOG), held through ACC International Holdings Inc., for NIS 76.6 million. He sold the stake at the order of Rabbi Shmuel Halevy-Wosner, because the company drills on the Sabbath. The company owns the Shemen (Yam 3) offshore license 15 kilometers west of Ashdod.
Shemen Oil is headed by former IDF chief of staff Lt. Gen. (res.) Gabi Ashkenazi who serves as chairman alongside CEO Yossi Levy. According to Netherland Sewell & Associates Ltd. (NSAI), the Shemen license has potential of 227 milllion barrels of oil. Shemen Oil's partner in the license, Caspian Drilling Company, Azerbaijan's national oil company, is the well operator.
Buyers of ACC's shares include Yaakov Luxembourg, the controlling shareholder of Lapidoth Israel Oil Prospectors Corporation Ltd. (TASE:LAPD), who increased his stake in Shemen Oil from 2% to 4%. Other buyers are Avraham Nanikashvilli and Jackie Ben-Zaken, which bought 4.97% of Shemen Oil for NIS 20 million; and Eden Energy Discoveries Ltd. (TASE:EDN), which bought 5.03% of Shemen Oil for NIS 22 million. Nanikashvilli and Ben-Zaken each own 11.6% of Shemen Oil and also own 12.9% of the company through Israel Financial Levers Ltd. (TASE:LVR).
The sales were made at NIS 0.135-0.142 per share, compared with yesterday's closing price of NIS 0.15, giving a market cap of NIS 464 million. Shemen Oil's share price was unchanged by midday today.
Lebovitz was a Satmar Hassid before joining Chabad after marrying his wife.
This fellow Lebovitz sold his shares in time for 77million NIS instead of taking a major loss had he held it, because they just announced this week that the gas field is dry, because he listened to his rav who told him to sell because they drill on Shabbos. There is no gaurantee that anybody who closes a deal just base don Shabbos-desecration issues will immediately profit from it, but it is nice when it does work out like that.
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