EX-99.3 4 exhibit_99-3.htm EXHIBIT 99.3 exhibit_99-3.htm
EXHIBIT 99.3

Disclosure for debenture holders as of March 31, 2015

 
1.
Summary of Financial Undertakings (according to repayment dates) as of March 31, 2015

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
  
       
one year
     30,246,082       1,432,430       31,678,512  
Total
     30,246,082       1,432,430       31,678,512  
 
b.
Bank guarantees as of March 31, 2015, totaling US $169 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  March 31, 2015
Market Value (US Dollar) as of    March  31, 2015
Interest payment
 dates
Principal
 payment
schedule
Type of
interest
Converted
to another
 security
10/18/2009
25,125,628
 
39,599
 
 
7,411,309
 
7,850,251
Quarterly payments on   the outstanding debt, on March 1st, June 1st, September 1st and December 1st of 2015.
one installment on 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.