OREANDA-NEWS. Delek Group (TASE: DLEKG, US  ADR: DGRLY) (“the Company”) announces that on December 22,  2015, the Company’s Board of Directors approved a share buy–back plan at the  amount of up to NIS 100 million for a period of one year commencing on December  22, 2015.
The Board of Directors of Delek Group believes, at this time, that the  purchasing of its own shares represents a good economic and business  opportunity.      
The Board has determined that the above buy-back plan is in accordance with  section 302 of the Israeli company law – 1999, with regard to distributable  profit which amounts to NIS 1,910 million. In addition, the Board determined  that the buy-back will not impact the Company's ability to stand behind its  current financial obligations. 

About The Delek  Group

The  Delek Group, Israel's dominant integrated energy company, is the pioneering  leader of the natural gas exploration and production activities that are  transforming the Eastern Mediterranean's Levant Basin into one of the energy  industry's most promising emerging regions. Having discovered Tamar and  Leviathan, two of the world's largest natural gas finds since 2000, Delek and  its partners are now developing a balanced, world-class portfolio of  exploration, development and production assets with total gross natural gas  resources discovered since 2009 of approximately 40 TCF.

In  addition, Delek Group has a number of assets in downstream energy, water  desalination, and in the finance sector.