Sec Form 4 Filing - Delek Group, Ltd. @ GULFSLOPE ENERGY, INC. - 2019-10-22

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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Delek Group, Ltd.
2. Issuer Name and Ticker or Trading Symbol
GULFSLOPE ENERGY, INC. [ GSPE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
19 ABBA EBAN BLVD, P.O.B. 2054
3. Date of Earliest Transaction (MM/DD/YY)
10/22/2019
(Street)
HERZLIYA, L34612001
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.001 per share 10/22/2019 J( 1 ) 38,423,221 A $ 0.042 ( 1 ) 276,518,459 ( 1 ) I See footnote 2 ( 2 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Convertible Debenture $ 0.05 ( 4 ) 10/22/2019 J( 3 ) 10/22/2019 10/22/2020 Common Stock, par value $0.001 per share 24,410,960 ( 4 ) $ 0 ( 3 ) $ 1,220,548 I See footnote 2 ( 2 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Delek Group, Ltd.
19 ABBA EBAN BLVD
P.O.B. 2054
HERZLIYA, L34612001
X
Sharon Itshak
19 ABBA EBAN BLVD. P.O.B. 2054
HERZLIYA, L34612001
X
DKL Investments Ltd
47 ESPLANADE
ST HELIER, JERSEY, JE1 0BD, Y9JE1 0BD
X
Delek GOM Holdings, LLC
C/O THE CORPORATION TRUST COMPANY
CORPORATION TRUST CENTER,1209 ORANGE ST.
WILMINGTON, DE19801
X
Signatures
/s/ Itshak Sharon (Tshuva) 10/24/2019
Signature of Reporting Person Date
/s/ Leora Pratt Levin, as Authorized Signatory of DELEK GROUP LTD. 10/24/2019
Signature of Reporting Person Date
/s/ Danny Cole, as Authorized Signatory of DKL INVESTMENTS LIMITED 10/24/2019
Signature of Reporting Person Date
/s/ Leora Pratt Levin, as Authorized Signatory of DELEK GOM HOLDINGS, LLC 10/24/2019
Signature of Reporting Person Date
/s/ Leora Pratt Levin, as Authorized Signatory of DELEK GOM INVESTMENTS, LLC 10/24/2019
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The 38,423,221 shares of common stock, par value $0.001 (the "Common Stock"), of GulfSlope Energy, Inc. (the "Issuer") were issued to Delek GOM Investments, LLC ("Delek GOM Investments") on October 22, 2019 pursuant to the certain Post-Drilling Agreement Regarding Certain Issues, dated October 22, 2019 (the "Agreement"), between the Issuer and Delek GOM Investments.
( 2 )These securities are held of record by Delek GOM Investments. Delek GOM Holdings, LLC ("Holdings") is the sole member of Delek GOM Investments. DKL Investments Limited ("DKL") is the sole member of Holdings. The sole stockholder of DKL is Delek Group Ltd. ("Delek Group"). As of the date of this report, the majority of Delek Group's outstanding share capital and voting rights are owned, directly and indirectly, by Itshak Sharon Tshuva through private companies wholly-owned by him. As such, Itshak Sharon Tshuva, Delek Group, DKL and Holdings may each be deemed to have voting and investment power with respect to the securities held by Delek GOM Investments noted above and as a result may be deemed to have beneficial ownership over such securities. Each reporting person disclaims beneficial ownership of all interests reported on this Form 4 except to the extent of such reporting person's pecuniary interest.
( 3 )The convertible debenture was issued to Delek GOM Investments in connection with the Agreement on October 22, 2019. The debenture matures on October 22, 2020 (subject to earlier conversion) and earns interest at a rate of 12% per annum with interest payable at maturity, or 15% per annum upon an event of default (in each case, which accrued and unpaid interest is also convertible into shares of Common Stock). As payoff for the Issuer's obligations under that certain Term Loan Agreement, dated March 1, 2019, between the Issuer and Delek GOM Investments, the Issuer issued the convertible debenture to Delek GOM Investments in a principal amount equal to the term loan payoff.
( 4 )The debenture is convertible into shares of Common Stock at the option of Delek GOM Investments at a conversion price of $0.05 per share of Common Stock (subject to adjustment). This number is based on the conversion of the principal amount of $1,220,548 as of the issuance of the convertible debenture on October 22, 2019, and so excludes shares of Common Stock issuable upon any interest accruing after issuance.

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