Further to the immediate report of Koor Industries Ltd. ("the Company") on November 22, 2013 (Ref. 2013-01-199788) concerning a settlement agreement signed with the plaintiff in the legal proceeding concerning an application for the removal of discrimination and an application for its certification as a class action against the Company, Discount Investments Ltd. ("DIC") and IDB Development Ltd. ("IDB") in the matter of the merger transaction between Koor and DIC ("the Settlement Agreement Report". "the Settlement Agreement"), respectively, and further to the Company's immediate report on January 9, 2014 (Ref. 2014-01-011155) concerning the decision of the court to approve the Settlement Agreement subject to the consent of its parties to a number of conditions, the Company hereby reports that on January 21, 2014 the court approved the Settlement Agreement on the terms described in that previous immediate report, after the parties to the Settlement Agreement filed notice in the court of their consent to approval of the Settlement Agreement on the terms laid down by the court.

As noted in the Settlement Agreement Report, the force of the Settlement Agreement is contingent upon other conditions precedent which have not yet been met (the conditions precedent are given in section 6 of the Settlement Agreement Report).

It is noted that the Company is a subsidiary of DIC, which currently holds approximately 67% in the Company, and IDB, a controlling shareholder in DIC, holds 1.2% in the Company and 74% in DIC.


As described in the transaction report published by the Company on August 10, 2013 (Ref. 2013-01-113457) ("the Merger Transaction Report").

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