EXHIBIT C
KOOR INDUSTRIES LTD.
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OFFICE OF LEGAL COUNSEL
21 Ha'arba'a Street
Tel Aviv 64739
Israel
Tel: 972-3-6238420
Fax: 972-3-6238425
June 18, 2000
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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
Dear Sirs,
RE: IMMEDIATE REPORT - KOOR INDUSTRIES LTD. (NO. 39/2000)
COMPANY NO. 52-001414-3
Koor Industries Ltd. (hereinafter: "Koor" or "The Company) hereby announces
the following:
On Thursday evening, June 15, 2000, Tadiran Ltd. - a subsidiary wholly
owned by Koor (100%) (hereinafter: "Tadiran"), signed an Agreement with
SAFT Participations S.A. (hereinafter: "The Buyers"), whereby Tadiran will
sell to the Buyers all its holdings in its wholly owned subsidiary, Tadiran
Batteries, Ltd.
The proceeds Tadiran expects to receive (including dividend) is
approximately 33 million dollars (subject to adjustments agreed upon) and
Koor's net profit (after taxes) is approximately 11 million dollars.
The completion of this transaction is dependent on various approvals,
including the approval of the Restrictive Trade Commissioner.
Yours sincerely,
Shlomo Heller, Adv.
KOOR INDUSTRIES LTD.
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OFFICE OF LEGAL COUNSEL
21 Ha'arba'a Street
Tel Aviv 64739
Israel
Tel: 972-3-6238420
Fax: 972-3-6238425
July 26, 2000
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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
Dear Sirs,
RE: IMMEDIATE REPORT - KOOR INDUSTRIES LTD. (NO. 45/2000)
COMPANY NO. 52-001414-3
Further to Immediate Report (39/2000) from June 18, 2000, Koor Industries
Ltd. (hereinafter: "Koor") announces as follows:
Yesterday, July 25, 2000, the transaction of selling the holdings of
Tadiran Ltd. (a wholly owned subsidiary of Koor) in Tadiran Batteries Ltd.
was completed. The return on said transaction (including dividend) is
approximately 34.5 million dollars. The net capital gain (after taxes) from
this transaction is approximately 12 million dollars.
Yours sincerely,
Shlomo Heller, Adv.
