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As Of Filer Filing For·On·As Docs:Size Issuer Agent 6/27/03 Idb Holding Corp Ltd SC 13D/A 11:691K Elron Elec Industries Ltd/NY Merrill Corp-MD/FA Avraham Livnat Dic Loans Ltd. Discount Investment Corporation Ltd. IDB Development Corporation Ltd. Nochi Dankner Pec Israel Economic Corporation Ruth Manor Shelly Dankner-Bergman |
Document/Exhibit Description Pages Size 1: SC 13D/A Amendment to General Statement of Beneficial HTML 409K Ownership 2: EX-1 Underwriting Agreement HTML 14K 3: EX-2 Plan of Acquisition, Reorganization, Arrangement, HTML 10K Liquidation or Succession 4: EX-3 Articles of Incorporation/Organization or By-Laws HTML 12K 5: EX-4 Instrument Defining the Rights of Security Holders HTML 12K 6: EX-5 Opinion re: Legality HTML 12K 7: EX-6 Opinion re: Discount on Capital Shares HTML 12K 8: EX-7 Opinion re: Liquidation Preference HTML 12K 9: EX-8 Opinion re: Tax Matters HTML 12K 10: EX-9 Voting Trust Agreement HTML 12K 11: EX-10 Material Contract HTML 12K
Exhibit 2
The 1990-Option
A citation of the provisions that are still in effect of the letter agreement dated February 25, 1990 among Elron, DIC and PEC (the “Agreement”)
The following capitalized terms used herein are defined in the Agreement as follows:
The “Company” means Elron Electronic Industries Ltd., an Israeli corporation.
“DIC” means Discount Investment Corporation Ltd., an Israeli corporation.
“PEC” means PEC Israel Economic Corporation, a Maine corporation.
The “Rights” mean transferable rights offered by the Company to the holders of its Ordinary Shares, whose shareholdings are registered in the United States, to subscribe for and purchase from the Company at a purchase price not to exceed $4.20 per share one newly issued Ordinary Share for every two Ordinary Shares of the Company held by such shareholders.
The “Securities” mean all the unsubscribed Ordinary Shares underlying the Rights expiring unexercised.
7. The obligations of the Company with respect to the registrations of certain securities, as provided for in section 10 of the agreement dated December 11, 1988 between the Company and DIC and PEC, shall extend and apply also to the Securities referred to herein, if acquired by by DIC and PEC respectively pursuant to this Agreement.
8. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Israel.