The aid agreement from the state to the subsidiary company, which was signed, reports aid funds in the total amount of NIS 33 million, which will be given in US dollars according to the conversion rate on the day the aid is provided from the state to the subsidiary company, when in exchange for the aid funds, both the company and the subsidiary company will allocate convertible bonds to the state for a period of 3 years from the date of allocation of the bonds.
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The provision of assistance to the subsidiary is subject to the parties complying with all the conditions, including the approval of the general meeting of the company’s shareholders for the allocation of bonds convertible into the company’s shares which will be assigned to the state as collateral for the repayment of the loan, when the company will publish a summons for a general meeting in this regard as stated. It should be noted that the subsidiary will use the aid funds from the state for partial repayment of the loan fund given to the subsidiary under the state guarantee in the amount of approximately NIS 15.8 million, which are added to the repayment amount made for these loans in the amount of approximately NIS 17.2 million.