[Koor Letterhead]
EXHIBIT A
June 18, 2000
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
Tel Aviv 65202
--------------- --------------- ---------------
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.
