Blog

English translation of Immediate Report filed with the Israeli Securities Authority on November 13,2022
This distribution is with the Court’s approval in accordance with Section 303 of the Israel Companies Law, 1999: No
Dividend distributed by an Israel-resident company (for the composition of the dividend resources and tax rates- see section 7.A).
Eligible
Security name
Dividend
Dividend
Payment
Exchange rate
Taxation of
Taxation of
security no.
amount per
amount
currency
date for
individual
corporate
share
currency
payment
holders %
holders %
749077
Ordinary shares
0.66351
U.S. dollar
NIS
December 9, 2022
25
0
Is the dividend amount per security final: Yes
7. the tax rates detailed below are for tax deduction
7A. Composition of Dividend Sources Distributed from an Israeli resident company and financial instruments, except for Reit fund
% of Dividend
Individuals
Companies
Non-
residents
Income subject to Corporate Tax (1)
100
25%
0%
25%
Income sourced outside of Israel (2)
0
25%
23%
25%
Income
from
0
15%
15%
15%
“Approved
Enterprise”/beneficiaries (3)
Income from Ireland “Approved
0
15%
15%
4%
Enterprise” until 2013 (4)
Income from Ireland “Approved
0
Enterprise” from 2014 (5)
Preferred Income
0
20%
0%
20%
Income from tourist/agricultural
0
20%
20%
20%
“Approved
Enterprise” (6)
Income from “Approved Enterprise”
0
who gave forfeit notice (7)
Distribution classified as capital gain
0
25%
23%
0%
Distribution by participation unit
0
Other
0
0
0
0
Explanation:
7B. Dividends distributed by a non-resident company
Individual
Companies
Non-resident
Companies
Dividends distributed by a non-resident
25%
23%
0%
company
7C. Dividends distributed by Real Estate Investment Fund
% of
(1) Individual
Compani
Non-resident Companies
Exempt
Provident
Dividend
s
es
Trust Funds
Funds (2)
Real estate appreciation, capital gain and
–
25%
23%
23%
0%
0%
depreciation (3)
Other taxable income (such as: rent)
–
47%
23%
23%
23%
0%
From yielding real estate for rental
–
20%
20%
20%
0%
0%
housing purposes
Income charged by the fund (4)
–
25%
0%
25%
0%
0%
Extraordinary income
–
70%
70%
70%
60%
70%
–
–
–
–
–
–
% weighted withholding tax
100%
–
–
–
–
–
Name of security
No, of Security
Comments
Elron Op for Employees
7490253
If the Company distributes cash dividend
to its shareholders, and the Ex-dividend
date will be after the date of allotment of
the options but before the date of exercise,
the exercise price of each un-exercised
option prior to the lapse of the
aforementioned Ex-dividend date will be
reduced by the full amount of the gross per-
share dividend which was distributed.
10. Recommendations and decisions of the Board of Directors in connection with the dividend distribution pursuant to section 37(a)(1) of the Israel Securities Law, (Periodic and Immediate Reports, 1970):
The following are details regarding the Board of Directors’ reasons, including the examinations conducted in connection with the decision reached to distribute the dividend:
1. The Company’s Board of Directors examined the Company’s fulfillment of “the profit test” and “the solvency test” as defined in section 302(a) of the Israel Companies Law, 1999, and following this examination confirmed the Company’s fulfillment
of these criteria in relation to the said dividend distribution, as detailed below.
Attachments
Disclaimer
Elron Electronic Industries Ltd. published this content on 14 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2022 11:33:08 UTC.

source