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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) - January 12, 2000
ELECTRIC FUEL CORPORATION
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(Exact Name of Registrant as Specified in Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-23336 95-4302784
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(Commission File Number) (IRS Employer Identification No.)
885 Third Avenue, Suite 2900, New York, New York 10022
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(Address of principal executive offices)(Zip Code)
(212) 829-5536
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(Registrant's telephone number, including area code)
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ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
Effective January 12, 2000, we terminated our engagement of Kesselman
& Kesselman, a member firm of PricewaterhouseCoopers International (hereafter
"Kesselman"), as our independent public accountants to audit our consolidated
financial statements, and appointed Kost Forer & Gabbay, a member of Ernst &
Young International (hereafter "Kost Forer"), to replace Kesselman. Our audit
committee recommended and our board of directors approved this decision.
In connection with its audits for the two years ended December 31,
1997 and 1998,and through January 19, 2000, we and Kesselman did not have any
disagreement on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure, which disagreement, if not
resolved to the satisfaction of Kesselman, would have caused it to make
reference to the subject matter of the disagreement in connection with its
report on our financial statements.
Kesselman's reports on our financial statements for the years ended
December 31, 1997 and 1998 did not contain an adverse opinion or a disclaimer of
opinion, and were not qualified or modified as to uncertainty, audit scope or
accounting principles. During that period and through January 19, 2000, there
were no "reportable events" within the meaning of Item 304(a)(1)(v) of
Regulation S-K promulgated under the Securities Act of 1933, as amended.
We have requested that Kesselman furnish a letter addressed to the
Securities and Exchange Commission (hereafter "the Commission") stating whether
it agrees with the disclosure in this filing. A copy of that letter is attached
as Exhibit 16 to this Form 8-K/A.
During the years ended December 31, 1997 and 1998, and through January
12, 2000, we did not consult Kost Forer regarding the application of accounting
principles to a specified transaction, either completed or proposed; or the type
of opinion which might be rendered on our financial statements, and there was no
matter that was the subject of a "disagreement" within the meaning of Item
304(a)(1)(iv) of Regulation S-K or that was a "reportable event" within the
meaning of Item 304(a)(1)(v) of Regulation S-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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(c) Exhibits
16. Letter of Kesselman & Kesselman, a member firm of
PricewaterhouseCoopers International, to the Commission.
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SIGNATURE
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, hereunto duly authorized.
ELECTRIC FUEL CORPORATION
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(Registrant)
Date: January 19, 2000 By: /s/ Robert S. Ehrlich
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Robert S. Ehrlich
Chairman of the Board and
Chief Financial Officer
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EXHIBIT INDEX
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Exhibit Number Title of Exhibit Page Number
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16 Letter of Kesselman & Kesselman, a member firm
of PricewaterhouseCoopers International, to the
Commission.
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[LOGO]
EXHIBIT 16
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January 19, 2000
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
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Gentlemen:
We have read the statements made by Electric Fuel Corporation (copy attached),
which we understand will be filed with the Commission, pursuant to Item 4 of
Form 8-K/A, as part of the Company's Form 8-K/A report dated January 19, 2000.
We agree with the statement concerning our Firm in such Form 8-K/A.
Very truly yours,
/s/ Kesselman & Kesselman
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Kesselman & Kesselman
Certified Public Accountants (Israel)
