UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of June, 1999
Koor Industries Ltd.
-----------------------------------------------------------------
(Translation of registrant's name into English)
4 Kaufman Street, Tel-Aviv, 68012, Israel
-----------------------------------------------------------------
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F
Form 20-F X
Form 40-F
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
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 authorised.
Date: June 29, 1999 /s/ Shlomo Heller
---------------------
By: Shlomo Heller
Title: General Counsel &
Corporate Secretary
EXHIBIT DESCRIPTION
A Translation from Hebrew to English of an Immediate Report
(the "Report"), which was served on the Israeli Securities
Authority, The Tel-Aviv Stock Exchange Ltd. and the
Registrar of Companies, on June 21, 1999, regarding the
closing of the agreement to sell all of Koor Investments
Ltd. holdings in Merhav Building Material and Ceramic
Center Ltd.
B Translation from Hebrew to English of an Immediate Report
(the "Report"), which was served on the Israeli Securities
Authority, The Tel-Aviv Stock Exchange Ltd. and the
Registrar of Companies, on June 28, 1999, regarding
the retirement of a director of Koor industries Ltd.
EXHIBIT A
June 21, 1999
<TABLE>
<S> <C> <C>
The Securities Authority The Tel Aviv Stock Exchange The Registrar of Companies
22 Kanfei Nesharim St. 54 Ahad Ha'am St. 97 Yafo St.
Jerusalem 95464 Tel Aviv 65202 Jerusalem 91007
Fax: 02-6513940 Fax: 03-5105379
</TABLE>
Dear Sirs,
Re: KOOR INDUSTRIES LTD. (COMPANY NO. 52-001414-3)
IMMEDIATE REPORT NO. 27/99
Following our immediate report dated April 14, 1999 where Koor Indutries
Ltd. announced the signing of an agreement to sell all of Koor Investments
Ltd. holdings in Merhav Building Material and Ceramic Center Ltd. ("the
Agreement"), see attached, Koor Industries Ltd. hereby announces that today
the deal was completed; the shares were transferred, and the consideration
was received. The closing of the deal followed the fulfillment of all
conditions set forth by the sides as conditions for the completion of the
Agreement.
Yours sincerely,
Jackie Goren, Adv
14 April, 1999
<TABLE>
<S> <C> <C>
The Securities Authority The Registrar of Companies The Tel Aviv Stock Exchange Ltd.
22 Kanfei Nesharim St. 97 Yafo Street 54 Ahad Ha'am St.
Jerusalem 95465 Jerusalem 91007 Tel Aviv 65202
By fax: 02-6513939 By fax: 02-6247874 By fax: 03-5105379
</TABLE>
Dear Sirs,
Re: IMMEDIATE REPORT - REPORT NO. 14/99
KOOR INDUSTRIES LTD. (COMPANY NO. 52-001414-3)
Koor Industries Ltd. ("Koor") hereby gives notice as follows:
On the afternoon of 13 April, 1999, an agreement was signed for the sale of
all of the holdings (76.37%) of Koor Investments Ltd. (a company
wholly-owned by Koor) in Merhav Building Material & Ceramic Center Ltd.
("Merhav") to L.M. Lipsky Ltd., according to a company value of NIS 40.5
million. The agreement includes, inter alia, a stipulation that L.M. Lipsky
Ltd. will purchase from Koor the capital note which Merhav issued in Koor's
favour in the amount of NIS 3.6 million, and will release Koor from its
guarantees in favour of Merhav and its subsidiaries.
The closing has been set for sixty days after the date of signing the
agreement, subject to fulfillment by that date of the suspending conditions
stipulated in the agreement.
We note that the agreement also stipulates that if the Board of Directors
of L.M. Lipsky Ltd. does not approve the transaction within ten days of the
date of signing the agreement for any reason whatsoever, the buyer will be
Keter Plastic Ltd., with no change to any of the other provisions of the
agreement.
The capital gain expected to accrue to Koor from the transaction (before
inclusion of Merhav's expenses starting from 1.1.99), is NIS 3.5 million.
Yours sincerely,
Adv. Shlomo Heller
General Counsel and
Company Secretary
EXHIBIT B
28 June, 1999
<TABLE>
<S> <C> <C>
The Securities Authority The Registrar of Companies The Tel Aviv Stock Exchange Ltd.
3 Kanfei Nesharim St. P.O.B. 767 54 Ahad Ha'am St.
Jerusalem 95461 Jerusalem Tel Aviv 65202
By fax: 02-6513939 By fax: 02-6247874 By fax: 03-5105379
</TABLE>
Dear Sirs,
Re: IMMEDIATE REPORT - DIRECTOR WHO CEASED TO SERVE IN HIS OFFICE
(NOT A PUBLIC DIRECTOR)
IMMEDIATE REPORT NO. 28/99
1. Name of interested party: Uri Savir
2. No. of interested party: 5157915
3. Date on which he ceased to serve: 22.6.99
4. To the best of our knowledge, the retirement does not entail
circumstances which should be made known to the investing public.
5. Upon termination of his office, the director ceased to be an
interested party in the corporation
6. This report was transmitted by facsimile:
To the Securities Authority on 28/6/99 at 14:15 hrs.
To the Stock Exchange on 28/6/99 at 14:15 hrs.
Yours sincerely,
Adv. Shlomo Heller
General Counsel and
Company Secretary
