Amos Luzon Increases Stakes in Public Firms Ahead of Proposed 38% Pay Raise
Amos Luzon has increased his stakes in Luzon Group, Luzon-Ronson, and Luzon Credit. The transactions precede an October shareholder vote on a proposed 38% increase in his monthly management fees.
Israeli businessman Amos Luzon has increased his holdings in his three publicly traded real estate and finance companies over the past week: Luzon Group, Luzon-Ronson, and Luzon Credit (formerly Tarya).
Share Purchases and Ownership Structure
Luzon executed several transactions to consolidate his control:
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Luzon Group: He purchased 40,000 shares at 5.03 NIS per share, totaling approximately 200,000 NIS. Luzon now holds a 57.36% stake in the group, which has a market capitalization of 2.24 billion NIS. Major institutional shareholders include More Investment House (approx. 12%) and Menora (approx. 6%).
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Luzon-Ronson: He acquired 5,000 shares at 31.16 NIS per share, totaling around 155,000 NIS. Additionally, Luzon Group purchased Ronson shares worth 180,000 NIS. Luzon Group holds a 71% stake in Luzon-Ronson, which focuses on the Polish real estate market.
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Luzon Credit: Luzon's holding company purchased shares worth 200,000 NIS. Luzon holds an indirect stake in the P2P lending and mortgage firm through Luzon Group's 28% shareholding. Luzon Credit is valued at approximately 220 million NIS.
Proposed 38% Salary Increase
These transactions come ahead of an upcoming shareholder meeting in October, where a proposed update to Luzon's management terms and compensation package for the next three years will be put to a vote.
The proposal outlines a 38% increase in his monthly management fees:
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Monthly cost to the employer (including VAT) will rise from 260,000 NIS to 360,000 NIS.
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In gross terms, his monthly salary will increase from 197,000 NIS to 280,000 NIS (plus VAT).
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Annually, his fixed management cost will reach 4.32 million NIS, up from the current 3.12 million NIS.
