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 April, 2000
Koor Industries Ltd.
- ---------------------------------------------------------------------------
(Translation of registrant's name into English)
4 Kaufman Street, Tel-Aviv, 68012, Israel
- ---------------------------------------------------------------------------
(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
------- -------
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 authorized.
/s/ Shlomo Heller
- -------------------------------- Date: April 3, 2000
By: Shlomo Heller
Title: General Counsel and
Company Secretary
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 March 23, 2000, regarding the
decision of Koor's board of directors to amend the employees
option plans.
<TABLE>
<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
- --------------- ---------------- ---------------
Fax: 02-6513940 Fax: 03-5105379
</TABLE>
Dear Sirs,
RE: IMMEDIATE REPORT - KOOR INDUSTRIES LTD. (NO. 13/2000)
-----------------------------------------------------
COMPANY NO. 52-001414-3
Koor Industries Ltd. (hereinafter: "Koor") hereby announces the following:
1. Yesterday, Koor's board of directors decided to amend the employees
option plans, which allotted options to senior employees of Koor. The
amendments do not apply to options held by interested parties in Koor.
2. In regard to options whose "determining date" is July 16, 1998 (248,333
options), the adjustment of the exercise price due to a dividend
distribution, which is stated in the original plan, will apply to all
options, including options that their exercise date occurs prior to a
dividend distribution.
3. Further, the board of directors decided, in regard to the options stated
in paragraph 2 above, and the options whose "determining dates" are July
24, 1997 and October 28, 1997 (120,938 options), that an employee who
resigned and has options that reached their exercise date prior to the
resignation, the exercise period will be a total of 5 years from the
beginning date of the plan (and not only for a period of 90 days).
4. As stated, according to the board of directors' decision, the amendments
apply only to employees that are not interested parties in Koor Industries,
Ltd.
Yours sincerely,
Shlomo Heller, Adv.
Legal Counsel
