Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 39

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 3
Chunk 39
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 construction, who fought as a member of the emergency response team and whose body remains held in Gaza, and our employees Ilana Grichevsky and Matan Tsangawker, who were taken hostage, with Matan still being held captive. The attack specifically targeted critical infrastructures, including the kibbutz’s dining hall, agricultural enterprises, industrial facilities, and our Southern Facility. The Southern Facility was subjected to extensive destruction, resulting in the near-total devastation of its cultivation areas, greenhouses, irrigation systems, electrical infrastructure, security systems and water supply. The facility was rendered completely inoperative and uninhabitable. Following the arrival of Israeli Defense Forces and before full clearance of terrorist threats, a rescue operation was conducted to extract survivors, including two of our employees who hid in a secure room for many hours. Subsequently, under special authorization from IMCA, a highly complex and dangerous mission was conducted to salvage what remained of our proprietary genetic bank, a unique and irreplaceable asset developed over years of research and cultivation, under continuous mortar fire, with the support of elite IDF units.
 In response, on October 8, 2023, the Security Cabinet of the State of Israel declared war on Hamas and a military campaign ensued. Following the conclusion of immediate military operations, the Southern Facility was requisitioned by the IDF and temporarily converted into a military base supporting operations in southern Gaza. In March 2024, following the IDF’s withdrawal from the area, we commenced an extensive and challenging process of restoration and restructuring.
 
Since the beginning of the war, during October 2023, we have been impacted by absence of personnel in Israel. However, as of the date of this Annual Report, except for the personnel employed at our Southern Facility in Nir Oz, all of our personnel at our service providers or counterparties located in Israel have returned to full capacity, and we are no longer impacted by any absences of personnel at our service providers or counterparties located in Israel. Military service call ups that result in absences of personnel from us for an extended period of time may materially and adversely affect our business, prospects, financial condition and results of operations.
 

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Since October 7, 2023, the Southern Facility in Nir Oz was initially designated by the Israeli authorities as a closed military area. As of the date of this Annual Report, the Southern Facility is no longer a closed military area, and the Company continues its process of its restoration as part of its war recovery plan. The rehabilitation efforts are progressing according