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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 September, 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: September 17, 1999 By: Shlomo Heller
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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 September 9, 1999, regarding an
agreement signed by interested parties in Koor for Change in
their holdings.
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[Koor Letterhead]
EXHIBIT A
9 September, 1999
The Securities Authority The Tel Aviv Stock The Registrar of Companies
22 Kanfei Nesharim St. Exchange 97 Yafo St.
Jerusalem 95464 54 Ahad Ha'am St. Jerusalem 91007
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Fax: 02-6513940 Fax: 03-5105379
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Dear Sirs,
Re: Immediate Report No. 34/99
Koor Industries Ltd. (Company No. 52-001414-3)
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Pursuant to Regulation 33 (A) of the Securities Regulations (Periodic and
Immediate Reports), 1970, Koor Industries Ltd. (hereinafter: "Koor" ) hereby
gives notice as follows:
This morning, notice was received at the offices of Koor from Claridge Israel
LLC (one of the members of the Claridge Group, an interested party in Koor and
holder of 28.4% of its issued and paid up capital) and from Bank Leumi le-Israel
B.M. (an interested party in Koor and holder of 5.56% of its issued and paid up
capital), of the making of an agreement which will result in a change in their
holdings in Koor.
Under the agreement, Bank Leumi will sell all of its holdings in Koor (5.56%) as
follows: 3.77% to Claridge Group and 1.79% to Poalim Investments Ltd.
The sale will be at $90.652 per share ($18.13 per ADR), subject to the
adjustments set forth in the agreement.
Actual transfer of the shares and payment of the consideration will be on
January 2, 2000. Once the transaction is implemented, Bank Leumi will cease to
be an interested party in Koor and the holdings of Claridge Group will reach
32.19% of the issued and paid up capital of Koor.
Yours sincerely,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
