Hadasit Bio-Holdings

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Amendment to Convertible Loan Agreement in KAHR Medical (2005) Ltd.

Mar. 4, 2015

HBL – Hadasit Bio-Holdings Ltd.

("The Company")

 

March 4, 2015

 

To: The Tel-Aviv Stock Exchange Ltd.

To: The Israel Securities Authority

www.tase.co.il

www.isa.gov.il

 

 

 

Subject: Amendment to Convertible Loan Agreement in KAHR Medical (2005) Ltd.

 

Further to the Immediate Reports filed by the Company dated February 8, 2015 and February 12, 2015 (reference numbers 2015-01-026794 and 2015-01-030793, respectively) with regard to the convertible loan agreement of the sum of one million dollars between KAHR Medical (2005) Ltd. (hereinafter: "KAHR"), a 49%-held subsidiary (not fully diluted) of the Company, Flerie Invest AB, shareholder in KAHR (hereinafter: "Flerie"), and the Company, the Company is pleased to announce:

 

Pursuant to the amendment signed by the parties, the appointed times regarding the right of the company to participate in the balance sum or a part of it have been extended, and the period for making the announcement by the company regarding its intention to lend KAHR the loan balance at a sum of up to 500 thousand dollars shall stand at 51 days from the effective date (instead of 21 days as determined in the original agreement). Thus, the date for making the announcement is April 3, 2015. To the extent that the Company shall choose to invest, the Company shall transfer the loan sum no later than 60 days from the effective date (instead of 30 days as determined in the original agreement) i.e. until April 12, 2015.

Furthermore, pursuant to the amendment, the date of the commitment by Flerie for the completion of any lack in the loan sum that shall not be transferred by the Company, in order to complete the amount of the loan to one million dollars was extended as well to 60 days i.e. until April 12, 2015.

With the exception of the aforementioned amendment, the rest of the provisions of the agreement remain unchanged.

 

Respectfully,

HBL – Hadasit Bio-Holdings Ltd.

By: Ms. Tamar Kfir - CEO

                                                                                    

 
 

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