GEDERA, Israel, September 29, 2016
/PRNewswire/ --
TAT Technologies Ltd. (Nasdaq: TATT - News), a leading provider
of services and products to the commercial and military aerospace
and ground defense industries, reports as follows:
The Special General Meeting of shareholders (the
"Meeting") of TAT Technologies Ltd. (the "Company")
is scheduled, to take place on November 3,
2016 at 5:00 P.M. Israel
time, at the offices of Naschitz, Brandes, Amir & Co.,
Advocates, located at 5 Tuval Street, Tel-Aviv, Israel. The record date for the
meeting is October 6, 2016.
The agenda of the Meeting shall be as follows:
1. Approval of the amended Compensation Policy of
the Company; and
2. Approval of the terms of service and
compensation of Mr. Amos Malka as
chairman of the board of directors of the Company, in accordance
with Section 273(a) of the Israeli Companies Law, 5759-1999 (the
"Companies Law") including, but not limited, to the grant of
options to purchase shares of the Company, all as described in this
Proxy Statementders; and
3. Approval of an addendum to the Company's 2012
stock option plan.
The approval of Item 1, requires the affirmative vote of at
least a majority of the shares present, in person or by proxy, and
voting on the matter, provided that (i) such a majority includes at
least a majority of the ordinary shares voted by shareholders who
are not controlling shareholders of the Company nor are they
shareholders who have a personal interest in the approval of the
proposal set forth in Item 1; or (ii) the total number of
shares of non-controlling shareholders and non-interested
shareholders voted against the proposal in Item 1 must not
represent more than two percent (2%) of the total voting rights in
the Company. Votes abstaining shall not be taken into account in
counting the above-referenced shareholder votes.
In the proxy card attached to the proxy statement, you will be
asked to indicate whether or not you are a controlling shareholder
of the Company or whether or not you have a personal interest in
the amended Compensation Policy. If any shareholder casting a vote
does not notify us whether or not they are a controlling
shareholder of the Company or whether or not they have a personal
interest in the approval of the amended Compensation Policy, their
vote, with respect to this Item, will be disqualified.
The approval of each of Items 2 and 3 requires the affirmative
vote of the holders of a majority of the voting power represented
and voting on the matter in person or by proxy.
Only shareholders of record at the close of business on
October 6, 2016, (the "Record
Date") will be entitled to receive notice of, and to vote at
the Meeting. All shareholders are cordially invited to attend the
Meeting in person.
Shareholders who will not attend the Meeting in person may vote
with respect to Items 1 through 3 by means of a proxy card and are
required to complete, sign, date and return the proxy card no later
than November 3, 2016 at 1:00 P.M., Israel time, to permit verification.
Voting will be done by completing the second part of the proxy
card. The form of proxy card was furnished to the Securities and
Exchange Commission (the "Commission") on Form 6-K, and is
available to the public on the Commission's website at
http://www.sec.gov. The form of proxy card is also available on the
websites: http://www.magna.isa.gov.il or
http://www.maya.tase.co.il..
Shareholders wishing to express their position on Items 1
through 3 on the agenda for this Meeting may do so by submitting a
written statement (hereinafter "Position Statement") to the
offices of Naschitz, Brandes, Amir & Co., Advocates, located at
5 Tuval Street, Tel-Aviv, Israel.
Any Position Statement received will be furnished to the Commission
on Form 6-K, and will be made available to the public on the
Commission's website at http://www.sec.gov and in addition at
http://www.magna.isa.gov.il or http://maya.tase.co.il. Position
Statements should be submitted to the Company no later than
October 16, 2016.
A shareholder is entitled to contact the Company directly and
receive the text of the proxy card and any Position Statement.
A shareholder, whose shares are registered with a Tel-Aviv Stock
Exchange Ltd. (the "TASE") member and are not registered on
the Company's shareholders' register, is entitled to receive from
the TASE member who holds the shares on the shareholder's behalf,
by e-mail, for no charge, a link to the text of the proxy card and
to the Position Statements posted on the Israel Securities
Authority website, provided, that the notice was provided with
respect to a particular securities account, prior to the Record
Date.
A shareholder whose Shares are registered with a member of the
TASE, is required to prove his share ownership to vote at the
Meeting. Such shareholder shall provide the Company with an
ownership certificate (as of the Record Date) from that TASE member
and is entitled to receive the ownership certificate in the branch
of the TASE member or by mail to his address (in consideration of
mailing fees only), if the shareholder so requested. Such a request
will be made in advance for a particular securities account.
Alternatively, shareholders whose shares are registered with a
member of the TASE may vote electronically via the electronic
voting system of the Israel Securities Authority up to six hours
before the time fixed for the Meeting. You should receive
instructions about electronic voting from the Tel TASE member
through which you hold your shares.
Discussion at the Meeting will be commenced if a quorum is
present. A quorum is comprised of two or more shareholders who are
present in person or by proxy, or who have delivered to the Company
a proxy card indicating their manner of voting, and who hold or
represent shares conferring in the aggregate at least one-third
(33.33%) of the voting power in the Company. If a quorum is not
present within half an hour of the time designated for the Meeting,
the Meeting will be adjourned to November
10, 2016, at the same time and place. If a quorum is not
present within half an hour of the time designated for the
adjourned meeting, two shareholders who are present in person or
proxy, or who have delivered a proxy card, will constitute a
quorum.
The wording of the resolutions to be voted at the Meeting and
relevant documents thereto may be inspected at the offices of
Naschitz, Brandes, Amir & Co., Advocates, located at 5 Tuval
Street, Tel-Aviv, Israel during
normal business hours and by prior coordination with Mr.
Guy Nathanzon (tel: +972-8-8628500
or +972-8-8628501).
Should changes be made to any Item on the agenda for the Meeting
after the publication of the Proxy Statement, we will communicate
the changes to our shareholders through the publication of a press
release, a copy of which will be filed with the Securities and
Exchange Commission on Form 6-K and with the Israeli Securities
Authority in the aforementioned internet websites.
About TAT Technologies LTD.
TAT Technologies Ltd. is a leading provider of services and
products to the commercial and military aerospace and ground
defense industries. TAT operates under four segments: (i)
Original Equipment Manufacturing or "OEM" of Heat Management
Solutions (ii) Heat Transfer Services and Products (iii)
Maintenance, Repair and Overhaul or "MRO" services of Aviation
Components; and (iv) overhaul and coating of jet engine
components.
TAT's activities in the area of OEM Heat Management Solutions
are focused on the design, development, manufacture, and sale of
the following: (i) a broad range of heat transfer components
includings heat exchangers, pre-coolers and oil/fuel hydraulic
coolers used in mechanical and electronic systems on-board
commercial, military and business aircraft; (ii) environmental
control and cooling systems on board aircraft and for ground
applications; and (iii) a variety of other electronic and
mechanical aircraft accessories and systems such as pumps, valves,
power systems and turbines.
TAT's activities in the area of Heat Transfer Services and
Products include the maintenance, repair and overhaul of heat
transfer equipment and to a lesser extent, the manufacture of
certain heat transfer product parts. TAT's Limco subsidiary
operates an FAA certified repair station, which provides heat
transfer MRO services and products for airlines, air cargo
carriers, maintenance service centers and the military.
TAT's activities in the area of MRO services for Aviation
Components include the maintenance, repair and overhaul of APUs,
Landing Gears and other aircraft components. TAT's Piedmont
subsidiary operates an FAA certified repair station, which provides
aircraft component MRO services for airlines, air cargo carriers,
maintenance service centers and the military.
TAT's activities in the area of jet engine overhaul includes the
overhaul and coating of jet engine components such as turbine vanes
and blades, fan blades, variable inlet guide vanes, afterburner
flaps and other components.
For more information of TAT Technologies Ltd., please visit our
web-site:
http://www.tat-technologies.com
Contact:
Mr. Guy Nathanzon
CFO
Tel: +972-8-8628500
guyn@tat-technologies.com
SOURCE TAT Technologies Ltd