Further to the immediate report of Koor Industries Ltd. ("the Company") on 28 April, 2008, concerning the notice of Ubank Trust Ltd. ("Ubank") on its resignation from its position as trustee for the holders of the debentures (series F) of the Company ("the Debentures") due to concern of possible conflict of interests, the Company hereby gives notice that on 24 July, 2008, the Company received a notice from Ubank, clarifying that the Tel Aviv District Court has approved its resignation as trustee for the holders of the Debentures. On this matter, the Company advises that the Company is now acting to find a replacement trustee.
The update of the compensation paid to the directors in the Company (including the outside directors), as noted above, will come into force commencing on the date of publication of the Compensation Regulations Amendment, i.e. commencing on 6 March, 2008.
This is a free translation to English from the Hebrew language, which was made for convenience purposes only. The official document is in Hebrew, and it can be found at the web site of the Tel Aviv Stock Exchange, at: http://maya.tase.co.il.
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About Koor Industries
Koor Industries is a leading Israeli holding company, focusing on high-growth, internationally-oriented, Israeli companies. Koor actively invests in agrochemicals through; Makhteshim Agan Industries , in telecommunications through its holdings in ECTel and Telrad Networks; and in venture capital through Koor Corporate Venture Capital. Koor’s Ordinary Shares are traded on the Tel Aviv Stock Exchange (TASE: KOR).
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Company contact
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Oren Hillinger, Finance Director
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Koor Industries Ltd.
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Tel: 972 3 607- 5111
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Fax: 972 3 607- 5110
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oren.hillinger@koor.com | | |
