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 July, 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 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: July 14, 1999 /s/ Shlomo Heller
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By: Shlomo Heller
Title: General Counsel &
Corporate Secretary
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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 July 13, 1999, regarding an agreement that was
signed for the sale of all of Koor's holdings in Koor Metals Ltd.
to Accord Technologies Holdings (1999) Ltd.
<PAGE>
July 13, 1999
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<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
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Fax: 02-6513940 Fax: 03-5105379
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Exhibit A
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Dear Sirs,
Re: Koor Industries Ltd. (Company No. 52-001414-3)
Immediate Report No. 29/99
Koor Industries Ltd. ("Koor") hereby gives notice as follows:
On Sunday, July 11, 1999, an agreement was signed for the sale of all of Koor's
holdings in Koor Metals Ltd. to Accord Technologies Holdings (1999) Ltd., in
consideration of NIS 10,750,000 (linked), and the release of Koor from all of
its guarantees in favor of Koor Metals Ltd. and its subsidiaries to banks and
third parties, in the amount of approximately NIS 34 million.
The closing date of the transaction was fixed at not later than 30 days after
the date of signature of the agreement.
Yours sincerely,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
