<SEC-DOCUMENT>0001178913-22-002108.txt : 20220523
<SEC-HEADER>0001178913-22-002108.hdr.sgml : 20220523
<ACCEPTANCE-DATETIME>20220523060101
ACCESSION NUMBER:		0001178913-22-002108
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220523
FILED AS OF DATE:		20220523
DATE AS OF CHANGE:		20220523

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ellomay Capital Ltd.
		CENTRAL INDEX KEY:			0000946394
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35284
		FILM NUMBER:		22949470

	BUSINESS ADDRESS:	
		STREET 1:		9 ROTHSCHILD BLVD.
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			6688112
		BUSINESS PHONE:		011-972-3-797-1111

	MAIL ADDRESS:	
		STREET 1:		9 ROTHSCHILD BLVD.
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			6688112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUR MACROPRINTERS LTD
		DATE OF NAME CHANGE:	19980331

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUR ADVANCED TECHNOLOGIES LTD
		DATE OF NAME CHANGE:	19950607
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2227880.htm
<DESCRIPTION>6-K
<TEXT>
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      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Washington, D.C. 20549</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">FORM 6-K</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">PURSUANT TO RULE 13a-16 OR 15d-16</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">For the month of May 2022</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Commission File Number: 001-35284</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;"><u>Ellomay Capital Ltd.</u></div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">(Translation of registrant&#8217;s name into English)</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><u>18 Rothschild Blvd., Tel Aviv 6688121, Israel</u></div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">(Address of principal executive office)</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">Form 20-F&#160;&#160; &#9746;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Form 40-F&#160;&#160; &#9744;</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the
        information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">Yes&#160;&#160; &#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No&#160;&#160; &#9746;</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">If &#8220;Yes&#8221; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________</div>
      <div style="text-align: justify; line-height: 1.25;"> <br>
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      <div style="text-align: justify; line-height: 1.25;">THIS FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO THE REGISTRANT&#8217;S REGISTRATION STATEMENTS ON FORM F-3 (NOS. 333-199696 AND
        333-144171) AND FORM S-8 (NOS. 333-187533, 333-102288 AND 333-92491), AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS SUBMITTED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">Ellomay Capital Ltd. (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;)
        hereby updates that due to the substantial increase in electricity prices in Europe since the commencement of the military conflict between Russia and Ukraine, the fair value of the financial power swap (the &#8220;<font style="font-weight: bold;">PPA</font>&#8221;) entered into by Talasol Solar S.L. (&#8220;<font style="font-weight: bold;">Talasol</font>&#8221;) is expected to
        experience a high volatility and to be valued at a significant negative value in Talasol&#8217;s financial results as of March 31, 2022. These financial results will be consolidated into the Company&#8217;s financial results for the three months ended, and as
        of, March 31, 2022, which are expected to be published at the end of June 2022.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">The PPA was executed in connection with the project finance of the 300 MW photovoltaic facility owned and operated by Talasol (the &#8220;<font style="font-weight: bold;">Talasol PV Plant</font>&#8221;), and covers approximately 80% of the output of the Talasol PV Plant for a period of 10 years. The PPA is treated for accounting
        purposes as a cash flow hedge, therefore changes in its fair value are recognized in other comprehensive income and do not impact the Company&#8217;s consolidated net profit/loss. The changes are recorded in the Company&#8217;s shareholders&#8217; equity through a
        hedging reserve and the negative value of the PPA is expected to significantly decrease the Company&#8217;s consolidated shareholders&#8217; equity. The purpose of the PPA is to hedge the risks associated with fluctuating electricity market prices by enabling
        Talasol to secure a stable income for the power production included under the PPA for a period of 10 years. The power produced by the Talasol Project is sold and is expected to continue to be sold by Talasol in the open market for the prevailing
        market power price. If the market price is above the PPA price, Talasol will pay the hedging provider the difference between the market price it receives and the PPA price
          and if the market price is below the PPA price, the hedging provider will pay Talasol the difference between the market price and the PPA price.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">A significant decrease in the Company&#8217;s shareholders&#8217; equity could cause the Company to fail to meet some of the financial covenants
        provided to the holders of the Company&#8217;s Series C debentures. The Company intends to propose to the holders of the Company&#8217;s Series C debentures an amendment to the Series C deed of trust, which will exclude the impact of changes in value of the
        PPA and similar transactions from the calculation of the Company&#8217;s shareholders&#8217; equity for purposes of calculation of the financial covenants. Such exclusion is already included in the definition of &#8220;shareholders&#8217; equity&#8221; in the deed of trust
        governing the Company&#8217;s Series D debentures. The Company is also considering the other potential measures and actions available to it in the event an amendment of the Series C deed of trust will not be approved.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;"><u>Information Relating to Forward-Looking Statements</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">This report contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based
        on the current expectations and assumptions of the Company&#8217;s management. All statements, other than statements of historical facts, included in this report regarding the Company&#8217;s plans and objectives, expectations and assumptions of management are
        forward-looking statements.&#160; The use of certain words, including the words &#8220;will,&#8221; &#8220;estimate,&#8221; &#8220;project,&#8221; &#8220;intend,&#8221; &#8220;expect,&#8221; &#8220;believe&#8221; and similar expressions are intended to identify forward-looking statements within the meaning of the Private
        Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company&#8217;s forward-looking statements.
        Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by our forward-looking statements. These risks and uncertainties associated with the Company&#8217;s business are described in
        greater detail in the filings the Company makes from time to time with the Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any
        obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.</div>
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        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Signatures</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; text-indent: 28.35pt; line-height: 1.25;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report
        to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
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                <div>
                  <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Ellomay Capital Ltd.</div>
                  <div style="line-height: 1.25;"><br style="line-height: 1.25;">
                  </div>
                  <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">By: <font style="font-style: italic;"><u>/s/
                        Ran Fridrich</u></font></div>
                  <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Ran Fridrich</div>
                  <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Chief Executive Officer and Director</div>
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      <div style="text-align: justify; text-indent: -216pt; margin-left: 216pt; line-height: 1.25;">Dated: May 23, 2022</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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