>Website Terms of Use
Website Terms of Use Hagshama 2017-03-10T13:44:56+00:00

Website Terms of Use

Terms of Use

The company Keren Hagshama Ltd. (“Hagshama“) developed and maintains this website (“the website“), in order to present information about itself to interested parties, and in order to enable communication with itself. In the website could appear, from time to time, content and information related to existing or potential investments which were investigated or are currently under investigation by Hagshama. Hagshama enables the surfing and use of this website subject to the all of the conditions stated hereinafter.

Please read the terms of use and privacy policy stated hereinafter (“the terms of use“) carefully prior to access and use of this website and before registering in the Hagshama database. Your continued use of the website and/or registration in the Hagshama Members’ Database will be considered indisputable evidence of your agreement to the stated conditions and instructions.

The provisions of these terms of use refer to women and men equally and the use of male tense is solely for reasons of convenience.


The documents which appear on the Hagshama website or which are circulated by Hagshama are intended to provide a general overview of Hagshama’s operations, its manner of conduct and investments which it presents to members who are registered in the Hagshama database.

The documents in the Hagshama website or the documents circulated by Hagshama should not be considered as an exhaustive and encompassing overview of the laws, agreements and terms which will apply to Hagshama and/or to the relationship between it and the investors registered with Hagshama and/or those who will invest in corporations which will be established for the purpose of making investments and/or regarding the operations of the corporations in which investments will be made by the investors.

Use of the website is exclusively for private and personal purposes. All intellectual property rights connected to the website and correspondence with the members of the database, of any kind or sort whatsoever, including the information, the content, the data, the patents, the trademarks, the copyrights, distribution rights, trade secrets, the website’s manner of display and design, as well as any matter or detail connected to the website and the database, are the exclusive property of Hagshama or of third parties. Hagshama gives you the benefit of access to and view of the text, graphics, sound, designs, pictures, charts and other content in the website, purely and exclusively for personal, non-commercial use.

It is forbidden to copy, distribute, duplicate, sell, translate and/or to carry out any other action whatsoever on all of the types of texts and/or codes and/or pictures and/or trademarks and/or any other information which appear in the website, unless advanced written permission has been received from Hagshama. Likewise, it is forbidden to activate or to enable the activation of any application software or other means which copy, either completely or partially, information and content from the website. Inclusive in this, it is forbidden to generate or to use said means to generate an anthology, collection or database which contain content from the website. Hagshama will not be liable for any use of information by a third party, in either an authorized or unauthorized manner.

The website may contain links and/or references to websites which are not activated by Hagshama but by other bodies. Hagshama will not be liable for the linked websites and a link to any website whatsoever should not be considered as a recommendation of the website and/or as agreement with the opinion or information found in this website. The links are intended solely and exclusively for the convenience and knowledge of the users. It is possible that in these websites, the user will be instructed to register, to submit various details etc. Submission of details and registration in these websites is not subject to Hagshama’s privacy policy, rather to the privacy policy of those same linked websites and to the provisions of all laws. Likewise, Hagshama is not responsible for the copyright or third part rights in the websites to which it enables links from this website. Hagshama is permitted, according to its sole discretion, to remove any link from the website and/or to add additional links.

Hagshama does not guarantee and does not undertake that the files available for download from this website will be free of infection from viruses, worms, Trojan horses or any other code which has offensive or destructive content.

The user is aware that use of the website and e-mail is not protected and exposes the user to dangers which stem from the structure of the internet network and from the use of a personal computer and/or any other hardware which enables connection to a network. The user will be liable for any results of unauthorized use of passwords and of other means of data protection which were given to him. In light of such, he must keep the passwords and other means of data protection in complete confidentiality and prevent any unauthorized use of them, on his personal computer and on any other equipment which may lead to unauthorized use of passwords.

Hagshama are permitted from time to time, according to its sole discretion, to change the website’s structure, appearance, breadth and the availability of the services and/or content provided in it, as well as any other aspect related to the website. Changes of this type may result in errors or initially cause temporary inconvenience. The user will not have any argument, claim or demand against Hagshama due to the making of changes as aforementioned, or due to errors which took place as a result.

Likewise, Hagshama reserves its rights, according to its sole discretion, and for any reason whatsoever, to change, update and/or correct the terms of use, the documents which appear on the Hagshama website or which will be circulated by it to investors, or any future document which will be sent in connection with the examination of a potential investment. These changes will become valid immediately upon their publication on the website or upon the receipt of notification of the changes from Hagshama, whichever occurs first.

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Mode of Operation and Joining the Database

Anyone who considers making an investment must investigate and thoroughly consider, by himself and with professional consultants on his behalf, prior to committing to make the investment, the risks involved in the investment. It is made clear that every investor is obligated to take into account that there are risks involved in making investments and he cannot bring any demand or claim against Hagshama, if and in the event that these risks materialize and his investment is unsuccessful, does not yield the expected profits or even causes losses of part of or his entire investment.

Hagshama does not sell participation units in Hagshama and the documents which appear on the website, or which are circulated by Hagshama from time to time should not be considered as an offer or solicitation to purchase participation units in Hagshama. Likewise, the information on the Hagshama website or which is circulated by Hagshama, including presentation of possible investments, should not be considered as an invitation to make investments in any corporation whatsoever or to grant funding for any corporation whatsoever. The information and documents which appear on the Hagshama website or which are circulated by Hagshama for the purposes of presenting possible investments are not an “Offer to the Public” as this term is defined in the Securities Law, 1968.

The fundamental framework for Hagshama’s operations is stated in the fundamental flowchart of the investment process, however it is made clear that Hagshama is permitted, according to its discretion, to act in a different manner that that stated in the diagram. In accordance with the aforementioned and subject to Israeli law, Hagshama may, from time to time, approach members who appear in Hagshama’s potential investors database and present to them, all or part of them, investment proposals which are being considered by Hagshama. Hagshama reserves its right not to approach all of the members contained in the database in order to present possible investments, to cancel or change any application as stated, in the event that it should be carried out, to enlarge or reduce the number of participation units or the sums which constitute a participation unit, the terms of engagement and any other condition which will be included in the terms and information which will be transferred to the investors.

Likewise, Hagshama reserves its sole discretion to confirm or to refuse to confirm the inclusion of any person in the investor database, and to accept or reject an investment offer, all or part of it. It is emphasized that Hagshama will not be obligated to accept investment offers which are submitted by Hagshama investors, and this is according to its complete discretion and without being required to justify the decision and, without detracting from the generality of the aforesaid, Hagshama will be permitted to accept offers from certain investors and to reject others, all according to its complete discretion, and any applicant to join the investors database thereby expresses his agreement to Hagshama’s operations as aforementioned.

Hagshama, according to its complete discretion, will establish the conditions according to which the investors in the Hagshama database can propose invest in the investments presented by Hagshama, and inclusive in this Hagshama is permitted to establish minimum and maximum sums for each investment, to establish the value of the various participation units which the investors can propose to purchase and so forth, all according to its complete discretion. All information, as stated, will be submitted to the investors in the Hagshama database respective to each investment which will be displayed, or in general, according to Hagshama’s decision. It is made clear that in general 100,000 NIS was established as the basic participation unit per investor for each investment, however, Hagshama is permitted to establish for each and every investment, basic participation units which differ from the aforementioned, when the participation unit of each investment will be stated by Hagshama in the information which will be presented regarding each investment.

The information contained in the Hagshama website or in its advertisements or correspondence is not intended to include all of the information which an average potential investor is likely to be interested in receiving for the purpose of analyzing the making of any investments whatsoever and is intended, solely and exclusively, to present Hagshama in general terms, its fundamental mode of operation and the manner in which one can join, free of charge, the database of Hagshama members, before whom, all or part of them, Hagshama will present investment possibilities from time to time, regarding which the members of the database are permitted to propose that they wish to join the investment on the terms which will be agreed between Hagshama and said members.

In any future investment, if one should occur, any potential investor must carry out all of the investigations which he wishes to carry out and by making the investment each investor confirms that that he received all of the information which he requested to receive and that the investment is made according to his sole discretion, following personal examination and deliberation and after taking all of the investor’s special and specific aspects into account, and without any solicitation or advice from Hagshama or anyone on its behalf as to making the investment. Inclusive in this, the potential investor must carry out an examination of the risks involved in the investment decision, this is whilst relating to this investor’s special aspects, as hereinafter. Without detracting from the aforementioned, Hagshama may refer the investors to risk factors which it considers, according to its discretion, that it is correct to consider in any event in any potential investment proposal. It is understood and clear that this will not come to detract from the investor’s obligation to carry out his own examination and to consider any additional or other risk factor which exists or could exist with the making of the investment, this includes risk factors connected to specific aspects of the investor himself.

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The information contained in this document, or in any other document which Hagshama should send regarding the potential investment possibility, does not serve as a presentation or commitment, explicitly or implicitly, by Hagshama or anyone on its behalf, officers, agents, workers or representatives of Hagshama regarding the completeness of the information and its preciseness or regarding the expediency of the investment and/or regarding its profitability.

Hagshama requests to make clear that any document which will be submitted to a member of the potential investors database regarding a potential investment, may contain information, opinions and data analysis tools, which were received from third parties, who are presumed to be parties who give correct and well-founded information. With this, Hagshama cannot guarantee that it is possible to rely on the aforementioned information, opinions and analytic tools, on their preciseness or veracity and they should not be considered certified and precise. By Hagshama transferring these same documents there is no display or guarantee from Hagshama, explicitly or implicitly, regarding the correctness, precision or reliability of the information contained in those same documents.

Some of the information which will be submitted to a database member may possibly have served as the basis for various premises and forward-looking forecasts relating to Hagshama’s transactions or to the chosen investment. The materialization of these aforementioned premises and forecasts is not under Hagshama’s control. Hagshama makes clear that, unless explicitly written otherwise, accounting reviews or other independent tests will not be carried out on the aforementioned premises and forecasts. Potential investors are required not to rely on the premises and forecasts as predicting an investment’s potential achievements. It is further emphasized that in the event that one or more of the risk factors or uncertainty factors should materialize, or that one of the basic premises should be discovered to be incorrect or if other things which were not originally foreseen as risk factors should occur, the end results may significantly change. Hagshama does not commit itself to update the forecasts or premises in accordance with new information or future events, of any sort, or to provide investors with access to any additional information, as aforementioned, or to update the investors regarding the existence of risk factors following the making of the investment.

In addition, Hagshama cannot estimate the effect of the various risk factors on the investment which will be made. The potential investors are solely responsible to examine the making of each investment, in the event that it should be made, taking into consideration that the end results may be significantly different that the expected results or those which were presented by Hagshama based on its non-binding estimates and forecasts. In addition, any investor must take into account that new risks can appear from time to time, and that Hagshama is unable to foresee what risks will appear, when they will appear, and how they will affect the various investments.

It is further emphasized, that even if data regarding the investments’ possible profit margins is stated within the presentation of various investments, this statement is not a guarantee from Hagshama that the investors will indeed grow profits in the stated margins, or at all, and Hagshama is not liable or a guarantor in any form whatsoever to refund the investments to the investors or for the profits which the investors will receive as a result of their investments in the various investments.

The content of this document or of any document submitted by Hagshama regarding the presentation of an investment opportunity, should not be considered legal advice, tax advice, investment advice or any other advice. Prior to making the investment decision, the potential investors and their various advisors must examine each investment thoroughly. Each potential investor must himself examine or confer with his advisors regarding legal, financial and tax matters, as well as the entirety of issues connected to purchase, ownership and transfer of the investor’s part of the investment. A potential investor is required to thoroughly examine, with regards to his country of citizenship, place of residence and place of business, the legal status which is relevant to purchase, ownership and trading of the investment, included in this, he must examine if he meets the relevant legal requirements for investment, the possible tax ramifications for him, how the Securities Law must be applied to him, what boundaries apply to these operations and if governmental agreement or any other agreement is required for the execution of the operations.

The rights which will be granted to any investor in connection with any investment will be stated in the agreement between the limited partners in the fund to the general partner (on the premise that the investment will be made in the format of a partnership, and respectively in any other corporate structure).

Potential investors are required to examine the investment agreements thoroughly prior to their signing. If any of the conditions stated in the investment agreements contradict or are inconsistent with the information stated in this document, in the attached booklet, or in any other document which will be submitted regarding a potential investment which will be examined, the terms of the investment agreements will apply.

By submitting his application to join the investors database of Hagshama, and by submitting any proposal to join any potential investment which will be presented by Hagshama, if one should be presented, any applicant or proposer, respectively, declares and guarantees, that he understands all of the terms which appear in this document and which apply to Hagshama’s operations and agrees to them.

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