BSD Crown Ltd. announced that further to the company's announcement of 15 July 2016 regarding Israel Yosef Schneorson’s decision to step down from his post as CEO with effect from 31 October 2016, the company hereby announced that the Board of Directors notified Mr. Schneorson, on 24 August 2016, that his management services agreement with the company is terminated with immediate effect in light of the latest events as the company published in the last months. Consequently he will cease to act as the company CEO from that date.