Exhibit 1
Lipman Electronic Engineering Ltd
April 21st, 2004
To: | To: | |||||
The Securities Exchange Authority | Tel Aviv Stock Exchange | |||||
22 Canfey Nesharim St. | 54 Ehad Ha'am St. | |||||
Jerusalem 95464 | Tel-Aviv 65202 | |||||
Re: Immediate Report - Lipman Electronic Engineering ID # 52-003894-4
Lipman Electronic Engineering Ltd (hereinafter: the "Company"), hereby files an immediate report in furtherance of the Company's immediate report, dated as of March 30, 2004.
1. | On April 21, 2004 at 17:00 p.m., the Company held a Special Meeting of Shareholders whereby the Company submitted to its Shareholders a proposal to change the Company's securities reporting obligations from reporting in conformity with the Israeli Securities Act - 1968 (hereinafter-the "Securities Act") to reporting in conformity with the U.S. Securities Exchange Act of 1934, as amended, pursuant to Section 35 (xxxii) of the Securities Act. |
2. | 10,072,548 shareholders comprising 77.8% of the outstanding shares (not including treasury stock), participated in the meeting. 9,391,907 shareholders voted for the proposal. Out of the shareholders who voted for the proposal 3,447,554 shareholders comprising 34.2% of the participating shareholders were controlling shareholders under Israeli law and 5,994,353 shareholders were non controlling shareholders under Israeli law. |
590,689 shareholders voted against the proposal comprising 5.9% of the shareholders participating in the meeting. 89,952 shareholders abstained, comprising 0.9% of the shareholders participating in the meeting. |
3. | The proposal was therefore approved by the majority of the Company's shareholders, who voted in person or by proxy at the meeting, other than the controlling shareholders. |
4. | The change in reporting obligations shall take place and be effective on April 22, 2004. |
Respectfully submitted, Hana Reller , Secretary Lipman Electronic Engineering Ltd |