SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) - January 12, 2000
ELECTRIC FUEL CORPORATION
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(Exact Name of Registrant as Specified in Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-23336 95-4302784
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(Commission File Number) (IRS Employer Identification No.)
885 Third Avenue, Suite 2900, New York, New York 10022
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(Address of principal executive offices)(Zip Code)
(212) 829-5536
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(Registrant's telephone number, including area code)
ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
Effective January 12, 2000, we terminated our engagement of Kesselman
& Kesselman (a member firm of PricewaterhouseCoopers International) as our
independent public accountants to audit our consolidated financial statements,
and appointed Kost Forer & Gabbay, a member of Ernst & Young International to
replace Kesselman. Our audit committee recommended and our board of directors
approved this decision.
We believe, and have been advised by Kesselman that it concurs with
such belief, that for the years ended December 31, 1997, 1998 and 1999, we and
Kesselman did not have any disagreement on any matter of accounting principles
or practices, financial statement disclosure or auditing scope or procedure,
which disagreement, if not resolved to the satisfaction of Kesselman would have
caused it to make reference in connection with its report on our financial
statements to the subject matter of the disagreement.
Kesselman's report on our financial statements for the years ended
December 31, 1997 and 1998 did not contain an adverse opinion or a disclaimer of
opinion, and was not qualified or modified as to uncertainty, audit scope or
accounting principles. During that period, there were no "reportable events"
within the meaning of Item 304(a)(1)(v) of Regulation S-K promulgated under the
Securities Act of 1933, as amended.
We have requested that Kesselman furnish a letter addressed to the
Securities and Exchange Commission stating whether it agrees with the disclosure
in this filing. A copy of that letter is attached as Exhibit 16 to this Form 8-
K.
During the years ended December 31, 1997, 1998 and 1999, we did not
consult Kost Forer regarding the application of accounting principles to a
specified transaction, either completed or proposed; or the type of opinion
which might be rendered on our financial statements, and there was no matter
that was the subject of a "disagreement" within the meaning of Item
304(a)(1)(iv) of Regulation S-K or that was a "reportable event" within the
meaning of Item 304(a)(1)(v) of Regulation S-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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16. Letter of Kesselman & Kesselman (a member firm of PricewaterhouseCoopers
International) to the Commission.(1)
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(1) To be filed by amendment pursuant to Item 304(a)(3) of Regulation S-K under
the Securities Act of 1933, as amended.
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, hereunto duly authorized.
ELECTRIC FUEL CORPORATION
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(Registrant)
Date: January 18, 2000 By: /s/ Robert S. Ehrlich
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Robert S. Ehrlich
Chairman of the Board and
Chief Financial Officer
EXHIBITS
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16. Letter of Kesselman & Kesselman (a member firm of PricewaterhouseCoopers
International) to the Commission.(1)
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(1) To be filed by amendment pursuant to Item 304(a)(3) of Regulation S-K under
the Securities Act of 1933, as amended.