Koor Industries Ltd. ("Koor") hereby gives notice that on 5 August, 2008, it received notification from Aurora Fidelity Trust Co. Ltd. ("the Trustee") of its resignation as the Trustee for the holders of the debentures (series H) of Koor.
The reason for the resignation, as stated to Koor by the Trustee, is that due to the merger of the parent company of the Trustee, Zohar & Zohar, with the firm of Breitman Almagor & Co., CPA, which is the auditing accountant of a number of companies in the IDB Group, there is concern that the Trustee will find itself in a conflict of interests.
The Trustee's notice of resignation will take effect after receipt of the approval of the competent court and from a date that will be decided by the court.
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
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