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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Month of August, 1999
Koor Industries Ltd.
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(Translation of registrant's name into English)
4 Kaufman Street, Tel-Aviv, 68012, Israel
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
FORM 20-F X FORM 40-F
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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.
YES NO X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_____
SIGNATURES
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.
/s/ Shlomo Heller
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Date: August 9, 1999 By: Shlomo Heller
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Exhibit Description
Translation from Hebrew to English of an Immediate Report
(the "Report"), which was served on the Israeli Securities
A Authority, The Tel-Aviv Stock Exchange Ltd. and the
Registrar of Companies, on August 5, 1999, regarding the
purchase of shares of BVR Systems (1998) Ltd. By Elisra
Electronic Systems Ltd., a subsidiary of Tadiran Ltd.
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EXHIBIT A
August 5, 1999
The Securities Authority The Tel Aviv Stock Exchange The Registrar of
22 Kanfei Nesharim St. 54 Ahad Ha'am St. Companies
Jerusalem 95464 Tel Aviv 65202 97 Yafo St.
Jerusalem 91007
Fax: 02-6513940 Fax: 03-5105379
Dear Sirs,
Re: Immediate Report No. 32/99 Koor Industries Ltd. (Company No.
52-001414-3)
Further to the Immediate Report published on May 5, 1999, a copy of which is
attached, Koor Industries Ltd. (hereinafter: "Koor"), hereby gives notice as
follows:
Elisra Electronic Systems Ltd. (hereinafter: "Elisra", a subsidiary of Tadiran
Ltd. group and wholly owned - 100% - by Koor), today signed an agreement with
BVR Systems (1998) Ltd. (hereinafter: "BVR"), whose shares are listed on NASDAQ
in New York, and with shareholders of BVR (namely, Clal Industries & Investments
Ltd., Poalim Investments Ltd., Mr. Aviv Zidon and Mr. Yaron Sheinman).
Under the above agreement, Elisra will buy 1,460,000 shares of BVR (part in a
private placement from BVR and part in an acquisition from the other above
shareholders), at $13 per share and a total consideration of about $ 19 million.
Upon closure of the transaction, Koor Group will hold (together with
acquisitions made in the past) about 25% of the shares of BVR.
As part of the agreement, it was agreed that the other above shareholders of
BVR, together with Elisra, will use their voting power so that three directors
of BVR will be recommended by Elisra and four directors will be recommended by
the other above shareholders (one director for each shareholder).
Closure of the transaction is contingent upon obtaining the approval of the
Anti-Trust Commissioner and other entities.
Yours sincerely,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
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May 5, 1999
The Securities Authority The Tel Aviv Stock Exchange The Registrar of
22 Kanfei Nesharim St. 54 Ahad Ha'am St. Companies
Jerusalem 95464 Tel Aviv 65202 97 Yafo St.
Jerusalem 91007
Fax: 02-6513940 Fax: 03-5105379
Dear Sirs,
Re: Koor Industries Ltd. (Co. No. 52-001414-3) Immediate Report No.
16/99
Koor Industries Ltd. ("Koor" or "the Company") hereby gives notice as follows:
Koor Group has recently acquired various amounts of shares in B.V.R. Systems
(1998) Ltd. (hereinafter - BVR) on NASDAQ , USA.
Together with the acquisition made yesterday, Koor Group holds 12.3% in the
outstanding share capital of BVR. Total cost of the acquisitions - approximately
$11.7 million.
Koor is negotiating with BVR to purchase additional shares by way of private
placement, subject to due diligence and the various approvals required by law.
Yours sincerely,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
