EXHIBIT B
[LOGO] 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
May 24, 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
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Dear Sirs,
RE: IMMEDIATE REPORT - KOOR INDUSTRIES LTD. (NO. 35/2000)
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COMPANY NO. 52-001414-3
Koor Industries Ltd. (hereinafter: "Koor" or "The Company) hereby
announces the following:
The Board of Directors, in a meeting held this morning, decided as follows:
1. ANNUAL GENERAL MEETING
On Monday, June 19, 2000 at 10:30 a.m. (Israel Time) an Annual General
Meeting of the company's share holders will be held. The meeting will take
place at the company's registered address, 21 Ha'arba'ah St., Tel Aviv
(Platinum House, 19th Floor).
The agenda of the Annual General Meeting will be as follows:
a. Declaration of a final dividend for the years 1998 and 1999 (the sum
of NIS 13.495 per Ordinary Share - 1998 and the sum of NIS 14.1 per
Ordinary Share - 1999).
b. To appoint Dr. Janet Aviad, Mr. Chemi Peres and Mr. David
Rubner as members of the Board of Directors of the Company.
c. To approve the annual fees, meeting participation fees and
reimbursement of expenses of members of the Board of Directors (who
are not officers of the Company) the maximum rate of compensation
prescribed in the Regulations for a Grade "D" company.
d. To reappoint Somekh Chaikin as the Company's auditors.
e. Presentation of the Audited Financial Statements of the
Company and the Report of the Directors for the year ended
December 31, 1999.
It is possible to look at the full version of the decisions at the company
offices, 21 Ha'arba'ah st. (Platinum House, 19th Fl.) at the company's
secretary, during regular business hours. Any shareholder who wants to
participate in this meeting, using a representative or power of attorney,
should deposit the appointment letter with the secretary of the company at
the company offices, at least 48 hours prior the scheduled meeting.
2. INTERIM DIVIDEND
A first interim dividend for the year 2000 will be distributed to share
holders as follows:
The interim dividend that is distributed will be for the sum of NIS 3.8 per
ordinary share (value of NIS 0.001) of the company.
The determining date as to the right of shareholders to receive dividend is
Sunday, June 18, 2000.
The "X" date is set for June 19, 2000.
The dividend payment date is Monday, July 3, 2000.
The tax rate deduced will be 25%, and will be deducted according to
the applicable laws .
Yours sincerely,
Shlomo Heller, Adv.
