Inrom Construction Industries Ltd

Shareholders of Inrom Construction Industries Ltd

Inrom states in its periodic report for the financial year 2025 (Regulation 21A, published March 2026) that, to the best of its knowledge, it has no controlling shareholder as that term is defined in the Companies Law, 5759–1999 and the Securities Law, 5728–1968. The company describes itself as a company without a control nucleus (חברה ללא גרעין שליטה).

The largest disclosed holder is Mr Binyamin (Benny) Baron, who held approximately 20.78% of the issued and paid-up share capital and of the voting rights (approximately 20.09% on a fully diluted basis) as at the date of that report. He holds the shares through a wholly owned company, Nichsei HaBaron Binyamin Ltd (נכסי הברון בנימין בע”מ). He acquired 30,605,866 ordinary shares at ILS 12.1 per share in off-exchange transactions from existing shareholders, completed on 1 October 2024, and has served as active chairman of the board since 18 November 2024. The company reports that the staff of the Israel Securities Authority has not necessarily accepted the legal position that Mr Baron is not a controlling shareholder, but that, in present circumstances, it will not intervene in that position; Mr Baron has voluntarily undertaken to apply to himself the regulation applicable to a controlling shareholder in respect of transactions under section 270(4) of the Companies Law and the process for appointing external and independent directors.

Other interested parties disclosed in official filings include Kibbutz Nir Oz, which is an interested party by virtue of its shareholding in the company and of a voting agreement with Kibbutz Nirim over jointly held shares, and institutional investors. In a material private placement of ILS 225 million completed on 7 February 2024, in which 20,642,202 ordinary shares were allotted at ILS 10.90 per share, the participants included interested parties from the Clal and Phoenix–Excellence institutional groups, and Mor Investment House became an interested party as a result. The issued and paid-up capital consists of 149,238,559 ordinary shares of ILS 1 par value, out of a registered capital of 300,000,000 such shares, with 5,143,163 non-tradable options outstanding. The full interested-party holdings table as at 8 January 2026 was filed as immediate report 2026-01-003334, and the shareholder register as immediate report 2026-01-013279 of 8 February 2026.

Ultimate beneficial ownership

No shareholder is disclosed as holding 25% or more of the capital or votes, and the company states that no person controls it. Mr Baron, at approximately 20.78%, is the only natural person identified in official disclosure as holding a stake of that size; the rest of the capital is held by Israeli institutional investors, kibbutz entities and the public, largely through nominee and custodian arrangements. No ultimate beneficial owner within the meaning of a 25% threshold can be identified from Israeli public disclosure for this company.

Data availability

The record behind this page listed only foreign index-fund positions — among them Timothy Plan-Israel Common Values Fund at 17.67%, together with several Dimensional and John Hancock funds. Those percentages cannot be reconciled with the company’s issued capital or with its Israeli interested-party disclosure, in which no such holder appears, and that data was not used here.

Israeli disclosure covers interested parties — broadly, holders of 5% or more of the issued capital or voting rights, directors and senior officers — and any controlling shareholder, reported to the Israel Securities Authority and the Tel Aviv Stock Exchange through the MAGNA and MAYA systems in monthly and event-driven holdings reports (דוח מצבת החזקות) and in the annual periodic report. It does not create a public register of the beneficial owners standing behind nominee, custodian, trustee or institutional positions, and holdings below the 5% threshold by persons who are not officers are not individually published. Percentages above are as reported by the company and change with issuance, option exercise and market trading.

Directors and officers of Inrom Construction Industries Ltd

The board below is as set out in Regulation 26 of the additional-details chapter of the company’s periodic report for the financial year 2025, published in March 2026. Nationality is recorded in that filing for each director; all serving directors are recorded there as Israeli nationals, one of them additionally as a United States national. Nationality is never inferred from a name; where a filing does not state it, it is recorded as not disclosed.

• Binyamin (Benny) Baron (בנימין ברון) — chairman of the board (active chairman); director since 14 November 2024, appointed active chairman on 18 November 2024. An interested party by virtue of his shareholding.
• Sapir Baron Danoch (ספיר ברון דנוך) — director since 14 November 2024; the filing records her as the daughter of the chairman.
• Yossi Hagag (יוסי חג’ג’) — independent director since 15 April 2019.
• Raz Dior (רז דיאור) — director since 10 December 2025.
• Chen Haim Katz (חן חיים כץ) — independent director since 14 November 2024.
• Tirtza Ottolenghi Florentin (תרצה אוטולנגי פלורנטין) — external director since 17 August 2023.
• Galit Zeidman (גלית זיידמן) — external director since 17 August 2023.
• Sami Bakalash (סמי בקלש) — independent director since 14 November 2024.

The group chief executive officer is Ehud Danoch (אהוד דנוך), in office since 14 December 2025. The chief financial officer is Sagi Meoda (שגיא מעודה). Neither holds a board seat.

Recent officer changes

• 20 April 2025 — Noam Shatzelka (נועם שצ’לקה) ceased to serve as chief executive officer; Shahar Peretz acted as interim chief executive officer from 21 April 2025 to 13 December 2025.
• 10 December 2025 — Itzik Tzaig ceased to serve as a director (immediate report 2025-01-098570) and Raz Dior began serving as a director.
• 14 December 2025 — Ehud Danoch took office as chief executive officer, his terms having been approved by the general meeting on 10 December 2025.

Data availability

The officer record behind this page consisted entirely of divisional and subsidiary managers — the heads of the Nirlat, Itung (Itong), S.P. Advanced Industries and Carmit Mister Fix businesses — together with an unnamed chief executive officer. Those individuals hold operating roles in subsidiaries and are not directors of Inrom Construction Industries Ltd, so that list was not used as the board. For completeness, the senior operating officers named in the FY2025 periodic report are Tommy Hardy (chief executive of Carmit Mister Fix Ltd), Omri Lutan (chief executive of Nirlat Paints Ltd), Avi Mutzafi (chief executive of Itong Ltd since 1 September 2025) and Osnat Rosenberg-Peretzman (chief executive of S.P. Advanced Industries Ltd).

Israeli reporting requires disclosure of directors and senior officers, their start dates and their classification as external or independent directors, but it does not publish residential or personal identifiers for public use, and it does not disclose the full management of non-reporting subsidiaries. Roles change between filings; the positions above are as at the FY2025 periodic report.

Group structure of Inrom Construction Industries Ltd

No parent company or holding company sits above Inrom Construction Industries Ltd. The company reports that it has no controlling shareholder; its largest holder, Mr Binyamin Baron, held approximately 20.78% of the capital and votes through a wholly owned company as at the FY2025 periodic report, and the remaining capital is held by institutional investors, kibbutz entities and the public. Inrom is therefore the top entity of the group.

The direct and indirect holdings below are taken from Regulation 11 of the FY2025 periodic report and from the consolidation note to the FY2025 consolidated financial statements, in each case as at 31 December 2025. All group companies are incorporated in Israel.

Data availability

Regulation 11 of the periodic report lists only subsidiaries and material associates held directly by the company, and the consolidation note adds those held indirectly; smaller dormant or immaterial entities, if any, need not be itemised. The 45% minority in Alumlight Production Ltd is held by the vendor of that business, who is not an interested party in Inrom. No foreign subsidiary or branch is disclosed. Ownership percentages are those reported at 31 December 2025 and may change through subsequent acquisitions or reorganisations.