Max Stock to Lease Logistics Hub from CEO's Company

Max Stock, a company specializing in importing and selling stock products, has signed a lease agreement for a new logistics center in Ofakim. The center will be leased from GT Holdings, a company in which Max Stock CEO Uri Max holds a 50% stake. The remaining 50% of GT Holdings is owned by Gavriel Tarabelsi's company, GT Real Estate.

Under the agreement, GT Holdings will construct a 45,000 square meter logistics hub for Max Stock, intended for storing imported and purchased goods. This facility will supplement the two logistics centers Max Stock currently operates and its use of external storage providers. Max Stock estimates its investment in fitting out the new hub will be approximately NIS 20 million.

The monthly rent for the facility will be NIS 1.7 million before VAT, with a 5% increase upon each option renewal. Construction of the logistics center has commenced and is projected for completion in December 2028. The initial lease term is 10 years from the handover date, with automatic two five-year extensions possible.

Max Stock will provide GT Holdings with a bank guarantee equivalent to three months' rent upon the logistics center's completion. This transaction is not classified as a related-party transaction, as Uri Max no longer holds a controlling interest in Max Stock, owning approximately 16.5% of the company's shares.

Separately, Max Stock is seeking shareholder approval for a significant increase in CEO Uri Max's annual compensation. The proposed raise would bring his total annual remuneration to approximately NIS 7.8 million, up from NIS 5.14 million in 2025. This includes a potential annual bonus and equity awards.