TEL AVIV, Israel, July 18, 2018 /PRNewswire/ --

ADO Group Ltd. (TASE: ADO) announces that it has been informed by Shikun & Binui (S&B), one of its shareholders, that investigators of the Israeli Securities Authority and the Israeli Police carried out investigative activities on July 17, 2018 and detained for questioning officers in S&B, in the framework of the investigation reported by S&B related to operations of a foreign indirectly held subsidiary of S&B outside of Israel and described in the immediate reports it has filed with the MAGNA (reporting system of the Israeli Securities Authority)

Under these circumstances, the chairman of S&B's board of directors (being also the chairman of ADO Group Ltd and of ADO Properties SA), was detained for questioning and released under restrictive conditions and will be under house detention which will end on July 22, 2018.

As far as S&B is aware, the above-mentioned investigation does not relate to ADO Group Ltd, to ADO Properties SA's businesses, to an activity in Germany or Luxembourg, or to the chairman's role as a board member of either ADO Group Ltd. nor ADO Properties SA. 

About ADO Group Ltd: 

ADO Group Ltd is the largest shareholder of ADO Properties S.A , registered with the Israeli Security Authority under 520039066 and publicly listed on the Tel Aviv Stock Exchange, and has its registered office at 1A Hayarden Street, Airport City, Ben Gurion Airport, Tel Aviv, Israel. ADO Group Ltd is a public Israeli company whose interest in ADO Properties S.A is 38.24%. 

Contact:
Eyal Merdler, CFO
ADO Group Ltd
Tel.: +972-3-5416301
eyal@ado.co.il

SOURCE ADO Group Ltd