Immediate Report regarding Event or Matter Outside of the Ordinary Course of the Corporation’s Business
Section 36(a) of the Securities (Periodical and Immediate Reports) Regulations, 5730-1970
Subject: Sale of Land – “Hillel Station”
An immediate report is hereby given that this morning, as part of proceedings for the sale of the Company's rights in land of an area of approximately 956,000 square meters, known as the Hillel Station and situated in the Sharon Region between the towns of Kadima and Zoren (the “Land”), the Company decided to choose a company in the Canada-Israel Group (the “Purchaser”) which offered the highest price, as purchaser of the Company’s rights in the Land.
The consideration offered by the Purchaser for the Company’s rights in the Land is in the sum of approximately USD 20.8 million, plus VAT.
Completion of the sale is subject to the approval of the board of directors of the Company.
The capital gain expected to be derived to the Company as a result of effecting this transaction is approximately NIS 89 million before tax (approximately NIS 64 million after tax).
The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law, and represents the binding version and the only one having legal effect. This translation was prepared for convenience purposes only.