EX-99 4 exhibit_99-3.htm EXHIBIT 99.3 exhibit_99-3.htm
Exhibit 99.3
 
Disclosure for debenture holders as of June 30, 2014
 
 
1.
Summary of Financial Undertakings (according to repayment dates) as of June 30, 2014

Israeli Securities Law Regulations (Periodic and Immediate Reports) 38e

a.
Convertible debentures issued to the public by the Company and held by the public.

   
Principal payments
    
Gross interest payments (without deduction of tax)
    
Total
  
   
ILS
  
       
First year
     30,247,270       3,035,822       33,283,092  
Second year
     30,247,269       1,011,941       31,259,210  
Total
     60,494,539       4,047,763       64,542,302  

b.
Bank guarantees as of June 30, 2014, totaling US $255 thousand

 
 
 
 
 
2.
Details with Regard to Company Debentures

Israeli Securities Law Regulations (Periodic and Immediate Reports) 10(b)13 and 48c(12)
 
Issue Date
Par value at issuance (US Dollar)
Accumulated interest (US Dollar)
Book value (US Dollar) as of  June 30, 2014
Market Value (US Dollar) as of    June   30, 2014
Interest payment dates
Principal payment schedule
Type of interest
Converted to another security
10/18/2009
29,086,678
 
98,113
 
 
18,528,505
 
25,762,659
Quarterly payments on   the outstanding debt, on December 1st, 2009 and on  March 1st, June 1st, September 1st  and  December 1st  of each of the years 2010 to 2015.
Two equal installments: of 40% each on December 1, 2014 and December 1, 2015.
Bears annual interest at a variable rate, plus annual margin of 6.1% above the annual interest rate for Israeli Government Debentures (Series 817) for each interest period.
Yes
 
 
 
 
 
 
3.
Details with Regard to the Trustee
 
MISHMERET TRUST COMPANY LTD, No. Corporate 51-377133-7, Address: 46-48 Menachem Begin, Tel Aviv, Israel
 
Contact information: Rami Sebty, Vice President, Telephone No.: 972-3-6374355, Fax No.: 972-3-6374344, e-mail ramis@bdo.co.il
 
 
4.
Conversion of convertible debentures

Security Details
Conversion ratio
Major Conversion Details
 
Ordinary shares of NIS 1 par value
From December 2nd, 2012 to November 15th, 2015, each NIS 37.12 par value debentures (Series C) may be convertible into one ordinary share of NIS 1 par value of the company.
Debentures may be converted each trading day from registration of the Debentures until November 15th, 2015 except during November 16th to December 1st of each of the years 2013 and 2014.
 
 
5.
At the end of the reporting period and during such reporting period the Company has complied with all the conditions and obligations under the trust deed.