Rosh HaAyin, Israel June 29, 2016. Pointer Telocation Ltd. (Nasdaq Capital Market: PNTR) announced that it has completed the previously announced spin-off of its subsidiary Shagrir Group Vehicle Services Ltd. (“Shagrir”) on June 28, 2016. The shares of Shagrir commenced trading on the Tel Aviv Stock Exchange on June 28, 2016 under the symbol “SHGR”. Following the completion of the spin-off, none of the ordinary shares of Shagrir are held by Pointer.
Of the7,792,444 ordinary shares of Shagrir available for distribution to holders of Pointer ordinary shares in connection with the spin-off, 230,989 ordinary shares of Shagrir were deposited with ESOP Management and Trust Services Ltd., as the escrow agent for unidentified shareholders. Shareholders of Pointer who were entitled to ordinary shares of Shagrir pursuant to the distribution, but failed to provide the details of an applicable account in which to deposit such shares, should contact the escrow agent at email@example.com. For further information as to how to claim such shares, shareholders of Pointer are advised to see the Information Statement attached as Exhibit 99.1 to the Current Report on Form 6-K furnished to the United States Securities and Exchange Commission on May 27, 2016.
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