Aryt Industries Ltd. - General Meeting.Business Editors TEL-AVIV, Israel--(BUSINESS WIRE)--June 25, 2001 Aryt Industries Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ARYTF) ("Aryt") today announced that the General Shareholders' Meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. of Aryt Systems Ltd. a public company traded in the Tel Aviv Stock Exchange Tel Aviv Stock Exchange Israel's only stock exchange. ("Aryt Systems"), approved the following resolutions: 1. The purchase by Aryt systems of all Aryt's holdings in Reshef Technologies Ltd. and Amcoram Ltd. (wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Aryt) in consideration of a share issuance by Aryt Systems to Aryt. Aryt presently owns 62.9% of the outstanding shares in Aryt Systems and following the share issue it will increase its holding to 88%. 2. An agreement between Aryt and Aryt Systems regarding Management Agreement, whereby Aryt shall provide Aryt Systems with managerial, logistic. consulting and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . The share issue will be concluded within 7 days from the date of receipt of the Tel-Aviv Stock Exchange for the registration for trade of the shares. |
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