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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Elron Ventures Ltd (CE) | USOTC:ELRNF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.28 | 0.00 | 01:00:00 |
Eligible security no.
|
Security name
|
Dividend amount per share
|
Dividend amount currency
|
Payment currency
|
Exchange rate date for payment
|
Taxation of individual holders %
|
Taxation of corporate holders %
|
749077
|
Ordinary shares
|
0.50431
|
U.S. dollar
|
NIS
|
September 26, 2016
|
25
|
25
|
% of Dividend
|
Individuals
|
Companies
|
Non-residents
|
|
Income subject to Corporate Tax (1)
|
0
|
25%
|
0%
|
25%
|
Income sourced outside of Israel (2)
|
0
|
25%
|
25%
|
25%
|
Income from "Approved Enterprise"/beneficiaries
|
0
|
15%
|
15%
|
15%
|
Income from Ireland "Approved Enterprise"
|
0
|
15%
|
15%
|
4%
|
Preferred Income
|
0
|
20%
|
0%
|
20%
|
Income from tourist/agricultural "Approved Enterprise" (3)
|
0
|
20%
|
20%
|
20%
|
Distribution classified as capital gain
|
0
|
25%
|
25%
|
0%
|
Other
|
100%
|
25%
|
25%
|
25%
|
(1) | Income subject to Corporate Tax – income from distribution of profits or from dividend, sourced from income produced or generated in Israel and received, directly or indirectly, from another company which is subject to Corporate Tax. |
(2) | Income sourced outside of Israel is income generated outside of Israel which was not taxed in Israel, and also dividends from outside of Israel, in respect of which no tax was deducted outside of Israel. |
(3) | Including income from a tourist beneficiary enterprise |
1. | The Board of Directors were presented with data regarding the financial position of the Company, including, the absence of debt, data regarding the asset balance and liquid balances of the Company, the rate of use of cash, the investment plan of the Company as well as a professional economic opinion that, taking into consideration the current and expected cash liquidity of the Company, the requested distribution and its impact on the Company’s ability to pay its debts and satisfy its existing and future obligations as and when they fall due, there is no reasonable concern that the said distribution will prevent the Company from satisfying its existing and future obligations as and when they fall due . |
2. | Following examination of the above information, the Board of Directors decided to approve the distribution based on the following reasons: |
a. | The Company, currently, has no obligations towards third parties except for current liabilities in immaterial amounts. Therefore the Company’s Board of Directors believes that the Company has the ability to meet its existing and expected obligations as and when they fall due (solvency test). |
b. | In the view of the Board of Directors, the distribution has no impact on the Company’s activities, as currently contemplated. |
c. | The requested amount of the distribution is from the Company’s cash balances and in the view of the Company’s Board of Directors, the liquidity position of the Company enables the dividend distribution. |
d. | The proposed dividend distribution is a proper and acceptable means to enable the Company's shareholders to share in the Company's profits and its positive operating results. |
e. | The distribution was approved by the Court in accordance with Section 303 of the Israeli Companies Law, 1999. |
3. | The anticipated data and estimates set forth above constitute forward-looking information, as defined in the Israel Securities Law, 1968, that is based on an analysis of the data detailed above conducted by the Company. These anticipations and estimates may not be realized, in whole or in part, or they may be realized in a materially different manner from that anticipated, due, among other things, to: changes in capital market conditions, changes in venture capital industry conditions, changes in exchange rates and interest rates, political and national security-related changes, regulatory changes; which may affect the operations of the Company and its group companies, conditions of the different markets in which the Company's group companies operate, and liability exposure related to representations made and proceeds held in escrow in the course of exit transactions effected by the Company. |
|
ELRON ELECTRONIC INDUSTRIES LTD.
(Registrant)
By:
/s/Yaron Elad
Yaron Elad
VP & CFO
|
1 Year Elron Ventures (CE) Chart |
1 Month Elron Ventures (CE) Chart |
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