Ampal's Appeal On Dispute With Yakhin Hakal is Dismissed.Business/Technology Editors NEW YORK--(BUSINESS WIRE)--Oct. 4, 2001 Ampal-American Israel Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AMPL (language) AMPL - Along with mpl, the intrinsic parallel languages for MasPar's computers. AMPL and mpl are parallel variants of C. Ampl is actually now a gcc port. ["AMPL: Design, Implementation and Evaluation of a Multiprocessing Language", R. Dannenberg, CMU 1981]. ) announced today that the Supreme Court in Israel dismissed the appeal filed by Ampal in connection with the July 1998 decision of the Tel Aviv District The Tel Aviv District is one of six administrative districts of Israel with a population of 1,204,000 residents. It is 99.0% Jewish and 1.0% Arab (0.7% Muslim, 0.3% Christian). The district capital is Tel Aviv. Court concerning a dispute between Ampal and Yakhin Hakal Ltd. Yakhin Hakal Ltd. is the manager and co-owner of Ampal's 50%-owned affiliates, Etz Vanir Ltd. and Yakhin Mataim Ltd., which cultivate citrus groves in Israel. The District Court's decision allowed Etz Vanir and Yakhin Mataim to redeem debentures owned by Ampal for approximately $800,000 and to require Ampal to surrender all of its preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. in Etz Vanir and Yakhin Mataim for their par value, which is nominal. Ampal's financial statements will not be affected as a result of this dismissal. Ampal will evaluate the impact of this decision and will determine whether any further action will be taken in this matter. Ampal and its subsidiaries primarily acquire interests in businesses located in the State of Israel or that are Israel-related. Ampal's primary investment focus is the growing high-technology and communications sector. Ampal has diversified interests in the following sectors: high-technology and communications, real estate, capital markets, leisure-time, energy distribution and industry. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Further information regarding risks and uncertainties are detailed from time to time in the Company's filings with the Securities and Exchange Commission. This release and prior releases are available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide Web site at www.kcsa.com. |
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