Each of the stocks that were supposed to be included in the TA-90 Index - and thus in the TA-125 Index - will continue to be included in these indices even after the reform, and will not be removed from them as a result of the layout update, for a period of about a year.
At its meeting on December 22, 2016, the TASE Board of Directors resolved to approve the extension of the period for complying with the float rate target by 12 months from the effective date of the reform for shares to be included in the TA-90 and SME-60 Indices.
Companies that are required to raise their float rate to 25% by the end of 2016 and to 30% by June 30, 2017 will be able to remain with their existing float rate and continue to be included in the indices for an additional period of 12 months from the effective date of the reform.
Furthermore, it has been resolved to authorize each of the stocks, which were supposed to be included in the TA-90 Index - and thus in the TA-125 Index - to continue being included in these indices even after the reform and not to be removed from them because of the layout update, for a period of about a year. As a result, during this year, there will be 96 and 131 stocks in the TA-90 and TA-125 Indices respectively, subject to their compliance with the threshold conditions of the index.
This resolution requires the approval of the Israel Securities Authority.
