News Column

Ituran Location and Control Updates on Results of its Extraordinary General Meeting of Shareholders

February 8, 2014

Ituran Location and Control on January 28 announced the results of its Extraordinary General Meeting of Shareholders.

According to a release, at its extraordinary general meeting of shareholders, held on January 28 (the "Meeting"), the following resolutions were adopted:

1. To approve the terms of service of Izzy Sheratzky, the Company's President, as described in Annex A of the proxy statement relating to the Meeting.

The company reported that this resolution was approved by a special majority (as defined below) as required under Israeli law, as follows:

-Total ordinary shares that voted for the resolution: 12,000,854 (77.81 percent)

-Total ordinary shares, which are not held by persons who have a personal interest in the approval of this resolution ("Non- interested Shares"), that voted for the resolution: 5,781,764 (63 percent of the Non-interested Shares).

-Total ordinary shares that voted against the resolution: 3,422,976 (37 percent).

2. To approve the terms of service of Eyal Sheratzky, the Company's Co-Chief Executive Officer, as described in Annex A of the proxy statement relating to the Meeting.

Additionally, this resolution was approved by a special majority (as defined below) as required under Israeli law, as follows:

-Total ordinary shares that voted for the resolution: 12,000,714 (77.8 percent)

-Total ordinary shares, which are not held by persons who have a personal interest in the approval of this resolution ("Non- interested Shares"), that voted for the resolution: 5,781,764 (63 percent of the Non-interested Shares).

-Total ordinary shares that voted against the resolution: 3,423,249 (37 percent).

3. To approve the terms of service of Nir Sheratzky, the Company's Co-Chief Executive Officer, as described in Annex A of the proxy statement relating to the Meeting.

This resolution was approved by a special majority (as defined below) as required under Israeli law, as follows:

-Total ordinary shares that voted for the resolution: 12,000,413 (77.66 percent)

-Total ordinary shares, which are not held by persons who have a personal interest in the approval of this resolution ("Non- interested Shares"), that voted for the resolution: 5,781,323 (63 percent of the Non-interested Shares).

-Total ordinary shares that voted against the resolution: 3,423,449 (37 percent).

4. To approve the terms of service of Gil Sheratzky, the Chief Executive Officer of E-Com Global Electronic Commerce, a subsidiary of the Company, as described in Annex A of the proxy statement relating to the Meeting.

This resolution was approved by a special majority (as defined below) as required under Israeli law, as follows:

-Total ordinary shares that voted for the resolution: 12,001,115 (77.77 percent)

-Total ordinary shares, which are not held by persons who have a personal interest in the approval of this resolution ("Non- interested Shares"), that voted for the resolution: 5,782,025 (63 percent of the Non-interested Shares).

-Total ordinary shares that voted against the resolution: 3,422,596 (37 percent).

5. To approve the terms of engagement of Professor Yehuda Kahane as a consultant of the Company, as described in the proxy statement relating to the Meeting.

This resolution was approved by a special majority (as defined below) as required under Israeli law, as follows:

-Total ordinary shares that voted for the resolution: 11,934,495 (77.34 percent)

-Total ordinary shares, which are not held by persons who have a personal interest in the approval of this resolution ("Non- interested Shares"), that voted FOR the resolution: 5,715,405 (62 percent of the Non-interested Shares).

-Total ordinary shares that voted against the resolution: 3,489,462 (38 percent).

6. To approve the terms of engagement of Avner Kurz as a consultant of Ituran Sistemas de Monitoramento Ltda, a Brazilian subsidiary of the Company, as described in the proxy statement relating to the Meeting.

This resolution was approved by a special majority (as defined below) as required under Israeli law, as follows:

-Total ordinary shares that voted for the resolution: 12,001,504 (77.78 percent)

-Total ordinary shares, which are not held by persons who have a personal interest in the approval of this resolution ("Non- interested Shares"), that voted for the resolution: 5,782,414 (63 percent of the Non-interested Shares).

-Total ordinary shares that voted against the resolution: 3,421,929 (37 percent).

7. To approve the procurement, from time to time, of directors' and officers' insurance policies covering the liability of office holders, including controlling persons and their relatives, who serve at the Company and its subsidiaries from time to time, under the terms set forth in the proxy statement relating to the Meeting.

This resolution was approved by a special majority (as defined below) as required under Israeli law, as follows:

-Total ordinary shares that voted for the resolution: 15,368,312 (99.6 percent)

-Total ordinary shares, which are not held by persons who have a personal interest in the approval of this resolution ("Non- interested Shares"), that voted FOR the resolution: 9,149,222 (99 percent of the Non-interested Shares).

-Total ordinary shares that voted against the resolution: 56,264 (1 percent).

8. To approve amendments to the Company's Articles of Association, as set forth in Annex C of the proxy statement relating to the Meeting.

This resolution was approved by a special majority (as defined below) as required under Israeli law, as follows:

-Total ordinary shares that voted for the resolution: 15,350,168 (99.45 percent)

-Total ordinary shares, which are not held by persons who have a personal interest in the approval of this resolution ("Non- interested Shares"), that voted for the resolution: 9,131,078 (99 percent of the Non-interested Shares).

-Total ordinary shares that voted against the resolution: 75,490 (1 percent).

9. To approve amendments to office holders' deeds of indemnity as set forth in Annex D of the proxy statement relating to the Meeting; and the grant thereof to office holders, including controlling persons and their relatives, who serve at the Company and its subsidiaries from time to time.

This resolution was approved by a special majority (as defined below) as required under Israeli law, as follows:

-Total ordinary shares that voted for the resolution: 15,344,459 (99.45 percent)

-Total ordinary shares, which are not held by persons who have a personal interest in the approval of this resolution ("Non- interested Shares"), that voted for the resolution: 9,125,369 (99 percent of the Non-interested Shares).

-Total ordinary shares that voted against the resolution: 79,424 (1 percent).

The term "special majority" as used herein means: the affirmative vote of the holders of a majority of the voting power represented at the Meeting in person, by written ballot or by proxy and voting thereon; provided that: (a) a majority of the shares voted at the Meeting, which are not held by shareholders with personal interest in approving the resolution, voted in favor of the resolution (abstentions are not counted); or (b) the total number of shares referred to in (a) above which voted against the resolution, does not exceed two percent (2 percent) of the aggregate voting rights in the Company.

Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications.

More information:

www.ituran.com

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