Attn. The Securities Authority Ltd, 22 Kanfei Nesharim
Street, Jerusalem 95464
Attn. The Tel-Aviv Stock Exchange Ltd., 9 Ahad Ha'Am
Street, Tel-Aviv 65202
Dear Sir or Madam,
Re: ChemChina Transaction - Distribution of payment as part
of the Compromise Agreement
Pursuant to previous reports of Makhteshim Agan Industries
Ltd (the "Company") in respect of the petition for
recognition of a class action in connection with the
ChemChina transaction and the compromise agreement (the
"Compromise Agreement"), including the report dated
November 16, 2011 (ref. 2011--01-328425) (the "Previous
Report"), the Company announces as follows:
The trustee appointed by the parties to the Compromise Agreement ("the Trustee") has informed the Company that yesterday, December 27th, 2011, he transferred to the Registration Company of Bank Hapoalim Ltd ("the Registration Company") the amount of USD 44,946,325.77, after deduction of commissions, payments and expenses as stated in the previous report and as approved by the court (but before deduction of tax at source, which will be carried out by the stock exchange members). This sum shall be distributed to those who were the Company's shareholders at the date of completion of the ChemChina transaction (excluding Koor Industries Ltd and one of its wholly owned subsidiaries), and who held the Company's shares through the Registration Company, in a way that each shareholder will receive USD 0.19707 per share (before deduction of tax at source). For additional information, including in connection with the deduction of tax at source in accordance with the rulings handed, see Koor's announcement to the Company as detailed in the Previous Report.
Sincerely,
Makhteshim Agan Industries Ltd
Adv.
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