Report Publication Announcement • Jun 23, 2014
Report Publication Announcement
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PRESS RELEASE Airport City, Israel, June 23, 2014
UNITRONICS (1989) (R"G) LTD.
Airport City, Israel – June 23, 2014 - Unitronics published the attached Immediate Report pursuant to the requirements of Israeli law, in connection with the publication of the Annual report regarding Company Debentures (series 3) published by the trustee for such Debentures.
Unitronics (1989) (R"G) Ltd. is an Israeli company that engages, through its Products Department, in the design, development, production, marketing and sale of industrial automation products, mainly Programmable Logic Controllers ("PLCs"). PLCs are computer-based electronic products (hardware and software), used in the command and control of machines performing automatic tasks, such as production systems and automatic systems for industrial storage, retrieval and logistics. The Company also engages, through its Systems Department and/or its subsidiaries, in the design, construction and maintenance services in the framework of projects for automation, computerization and integration of computerized production and/or logistics systems, mainly automated warehouses, automated distribution centers and automated parking facilities. The Company's PLCs are distributed by over one hundred and forty distributors (and a wholly owned US subsidiary) in approximately fifty countries throughout Europe, Asia, America and Africa. The services of the Systems Department are provided to customers in Israel and also outside Israel.
This press release contains certain forward-looking statements and information relating to the Company that are based on the beliefs of the Management of the Company as well as assumptions made by and information currently available to the Management of the Company. Such statements reflect the current views of the Company with respect to future events, the outcome of which is subject to certain risks and other factors which may be outside of the Company's control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described herein as projected, anticipated, believed, estimated, expected or intended.
(the "Company")
Essence of event: Annual Trustee report re: Company Debentures (Series 3)
Attached annual report on the affairs of the trustee, for holders of debentures (Series 3), Reznik Paz Nevo Trusts Ltd. for the period from 01.01.2013 until 31.12.2013
Respectfully,
Unitronics (1989) (R"G) Ltd.
REZNIK PAZ NEVO
June 23, 2014
Dear Sir; Madame,
Reference: File No. [12061]
By our virtue as trustee to the holders of (Series 3) debentures ("the Debentures") that were issued by Unitronics (1989) (R"G) Ltd. ("the Company"), we hereby submit an annual Trust Activity Report on the activities carried out by us during the period between January 1, 2013 and December 31, 2013 ("the Report Period ") in accordance with the provisions of section 7 of the Trust Law, 1979.
During the Report Period the Company made interest and principal payments in accordance with its undertaking in the Trust Deed. For additional information please see Company reports at the Tel Aviv Stock Exchange MAYA site.
| Date | Type of Payment |
|---|---|
| 23/03/2013 | Interest and Principal |
| 23/09/2013 | Interest |
During the Report Period the Company published its financial statements at the Tel Aviv Stock Exchange MAYA site, as required by a reporting corporation.
During the Report Period the Company did not distribute dividends.
During the Report Period the Company did not expand the debenture series.
The debentures are not rated.
With regard to the meetings of Company shareholders that were held during the Report Period, including the items on their agenda and the resolutions made therein, see Company reports at the Tel Aviv Stock Exchange MAYA site.
During the Report Period no meetings of debenture holders were convened.
The Trust Deed contains financial covenants.
In the event of a financial covenant breach, the interest rate will be increased by 0.50%.
A. The Company's shareholders equity (non-consolidated), based on its financial
statements, shall not be less than NIS 20 million for two consecutive quarters.
B. The ratio of net financial debt to net CAP shall not exceed 80%.
Pursuant to the provisions of the Trust Deed, the Company has undertaken not to create pledges (negative pledge) as specified in the Trust Deed.
During the Report Period the Company submitted the following periodic certifications to the Trustee:
| Type of Certification | |
|---|---|
| CFO report regarding compliance with financial covenants | |
| The Chairman's report regarding non-breach of covenants | |
| CFO statement that no sale has been made of any of the Company's business activity | |
| and/or its assets which contribute more than 50% of its annual revenues. | |
| CFO report regarding the balance in the safety net account. | |
| CFO report that no pledges were created by the Company. |
This report is not a substitute to the holder's review of the Company's public reports, including a review of the financial statements and the auditors' opinion.
Sincerely,
Reznik Paz Nevo Trusts Ltd.
Yad-Harutzim st. 14 Tel-Aviv 67778
Tel- 03-6389200 Fax- 03-6393316 www.rpn.co.il
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