ROSH HAAYIN, Israel,
June 29, 2016 /PRNewswire/ --
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 the 7,792,444 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 esop-helpdesk@esop.co.il. 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.
About Pointer Telocation:
Pointer Telocation is a leading provider of technology and
services to the automotive and insurance industries, offering a set
of services including Mobile Resource Management, Fleet Management
and Stolen Vehicle Recovery. Pointer has a growing list of
customers and products installed in 50 countries. Cellocator, a
Pointer Products Division, is a leading AVL (Automatic Vehicle
Location) solutions provider for stolen vehicle retrieval, fleet
management, car & driver safety, public safety, vehicle
security and more.
The Company's top management and the development center are
located in the Afek Industrial Area of Rosh Ha'ayin, Israel.
For more information: http://www.pointer.com
Contact:
Zvi Fried, V.P. and Chief Financial
Officer
Tel.: +972-3-572
3111
E-mail: zvif@pointer.com
Gavriel Frohwein/Ehud Helft, GK Investor Relations
Tel: +1-646-688-3559
E-mail: pointer@gkir.com
SOURCE Pointer Telocation Ltd