SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the
month of November 2020
Commission File Number: 000-21388
MAGAL
SECURITY SYSTEMS LTD.
(Translation of
registrant’s name into English)
P.O.
Box 70, Industrial Zone, Yehud 5610001 Israel
(Address
of principal executive offices)
Indicate by
check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F
☒ Form 40-F ☐
Indicate by
check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule
101(b)(1): __
Indicate by
check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule
101(b)(7): __
Indicate by
check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes
☐ No ☒
If “Yes” is marked, indicate below the
file number assigned to the registrant in connection with Rule
12g3-2(b): 82-________
This Report on
Form 6-K is incorporated by reference into the Registrant’s Form
F-3 Registration Statement File No. 333-217063 and Form S-8
Registration Statements File Nos. 333-127340, 333-164696,
333-174127 and 333-190469.
On
November 16, 2020, Magal Security Systems Ltd. (“we,” or the “Company”) held an Annual General
Meeting of Shareholders (the “Meeting”) at the Company’s offices
located at 17 Altalef Street, Industrial Zone, Yehud,
Israel. At the Meeting, our shareholders approved the
following resolutions:
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(1)
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Re-election of
Messrs. Beck, Ben-Haim, Berman and Bigger as directors of the
Company each for a term to expire at the 2021 annual general
meeting;
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(2)
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Re-election
Mr. Mosh Tsabari to the board of directors of the Company to serve
as an external director for a three-year term;
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(3)
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Approval of a
dividend distribution not to exceed USD 25 million, at the time and
in the amount to be directed by the Company’s Board of
Directors;
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(4)
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Re-adoption of
the Company's updated Compensation Policy; and
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(5)
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Ratification
and approval of the reappointment of Kost Forer Gabbay &
Kasierer, registered public accountants, a member firm of Ernst
& Young Global, as our independent registered public
accountants for the year ending December 31, 2020, and to authorize
our audit committee to fix the remuneration of such independent
registered public accountants in accordance with the volume and
nature of their services.
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Only
shareholders of record as of the close of business on October 20,
2020 were entitled to vote at the meeting. All resolutions were
approved by the majority requirements under Israel’s Companies Law,
5759-1999.
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
Date: November 16, 2020
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Magal Security Systems Ltd.
By: /s/ Doron Kerbel
Doron Kerbel
V.P. General Counsel & Company Secretary
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