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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Technoplast | LSE:TNP | London | Ordinary Share | IL0005410118 | ORD ILS1.0 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2817D Technoplast Industries Ld 23 September 2004 REF: F:/Kidron/Report03/SJE/23.9.04 (TRANSLATED FROM THE HEBREW) The Securities Authority The Tel Aviv Stock Exchange Ltd 22 Kanfei Nesharim Street 54 Ahad Ha'am Street Jerusalem Tel Aviv Dear Sirs, Re: Technoplast Industries Ltd (hereinafter: "the Company") Immediate Report pursuant to Regulation 14 of the Securities (Transaction Between a Company and a Controlling Shareholder Therein) Regulations, 5761-2001 Our client, Technoplast Industries Ltd (hereinafter referred to as "the Company"), has instructed us to give you notice in an immediate notice pursuant to Regulation 14 of the Securities (Transaction Between a Company and a Controlling Shareholder Therein) Regulations, 5761-2001, of transactions with a controlling shareholder that do not require the general meeting's approval pursuant to Regulation 1(2) of the Company's (Concessions in Transactions with Interested Parties) Regulations, 5761-2001 ("the Concessions Regulations"), which were approved on 31st August 2004, as follows: 1. The principal aspects of the transaction 1.1 The essence of the transaction is the giving of a guarantee of a controlling shareholder in the Company, Kidron Management & Holding (1961) Ltd, for an arrangement between the Company and Zag Industries Ltd (hereinafter referred to as "Zag"), the nature whereof is an extension of the terms and conditions of credit by Zag to the Company in respect of an amount of approx. NIS 2 million until the end of 2004. The said guarantee will be given without the Company being required to give the controlling shareholder therein any consideration or counter-undertaking. 1.2 The Company and Zag are discussing the extension of the terms and conditions of the credit to the Company as aforesaid upon certain terms and conditions, including receiving a guarantee from Kidron Management & Holding (1961) Ltd, one of the controlling shareholders in the Company ("the controlling shareholder"). 1.3 In order to enable the Company to agree the credit terms and conditions as aforesaid, the controlling shareholder has agreed to guarantee Zag for an arrangement to accelerate the payment as aforesaid, when they shall be agreed upon. 2. Summary of the Board of Directors and Audit Committee's grounds: the controlling shareholder's willingness to put up a guarantee upon the said terms and conditions, without consideration or a counter-undertaking, constitutes a transaction that is only for the benefit of the Company. Messrs Michael Zach and Yaakov Midan were not present at the Board of Directors' discussion and did not participate in the vote. 3. Submission of an objection: pursuant to Regulation 1C of the Concessions Regulations, the concession pursuant to Regulation 1(2) shall not apply if one or more shareholder holding at least 1% of the issued capital or the voting rights in the Company gives notice of his objection to the grant of the concession as aforesaid, provided that the objection was submitted to the Company in writing by no later than seven days from the date of the submission of this immediate report. If an objection as aforesaid is submitted, the transaction shall require approval pursuant to the provisions of section 275 of the Companies Law, 5759-1999. Yours faithfully, Gil Rimon, Adv. R. Yohai & Co., Law Offices This information is provided by RNS The company news service from the London Stock Exchange END HOLUOSVRSURKUAR x
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