EX-99.3 4 exhibit_99-3.htm EXHIBIT 99.3 exhibit_99-3.htm
EXHIBIT 99.3 
 
Disclosure for debenture holders as of September 30, 2014
 
 
1.
Summary of Financial Undertakings (according to repayment dates) as of September  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
2,418,138
32,665,408
Second year
30,247,269
   482,567
30,729,836
Total
60,494,539
2,900,705
63,395,244

b.
Bank guarantees as of September 30, 2014, totaling US $238 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  
September 30, 2014
Market Value (US Dollar) as of  
  September  30, 2014
Interest payment dates
Principal payment schedule
Type of interest
Converted to another security
10/18/2009
27,063,599
 
87,306
 
 
15,896,714
 
16,863,058
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

Major Conversion Details
Conversion ratio
Security Details
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.
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.
Ordinary shares of NIS 1 par value
 
 
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.