Oil Refineries Announces Convening of Annual and Extraordinary General Meeting

HAIFA, Israel, June 6, 2013 /PRNewswire/ --

Oil Refineries Ltd. (TASE: ORL.TA) (hereinafter "the Company,""ORL"), Israel's largest integrated refining and petrochemical group, announced that the Annual and Extraordinary General Meeting of shareholders will convene on July 9, 2013 at 12:30pm at the Company's offices on the 26th floor, Square Tower, Azrieli Center, 132 Menachem Begin Road, Tel-Aviv, to approve the following resolutions:

Agenda:

  1. Discussion of the financial statements and the Directors' Report for the year ended December 31, 2012, including the Auditors' fees, included in the Directors' Report.
  2. Reappointment of KPMG Somekh Chaikin as the Company's Auditors until the next Annual General Meeting, and agreement of the Company's Board to set their fees.
  3. Reappointment of the Company's serving directors, excluding external directors: Mr. Akiva Mozes, Chairman of the Board of Directors, Mr. David Federman, Deputy Chairman of the Board, Mr. Arie Silberberg, Prof. Arie Ovadia, Mr. Avisar Paz, Mr. Ron Croll, Mr. Yossi Rosen, Mr. Eran Schwartz and Mr. Eran Sarig. The vote for each director shall be held separately.
  4. Appointment of Mrs. Ariella Zochovitzky as an external director of the Company.
  5. Appoint of Prof. Yachin Cohen for an additional term as an external director of the Company.
  6. Approval of the terms of employment of Mr. Aharon Yaari, the Company's incoming CEO.

The effective date for determining the rights of a shareholder in the Company to vote at the General Meeting, as stipulated in section 182 of the Companies Law, is the end of trading on June 10, 2012 (the "Effective Date").

A convenience translation of the main points of the report for the General Meeting will be published on the Company's investors' website during the coming week.

About Oil Refineries Ltd.

Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, operates Israel's largest integrated refining and petrochemical group. It is one of the leading refineries in the Eastern Mediterranean area and integrates, on-site, petrochemical businesses. ORL runs sophisticated and state-of-the-art industrial facilities with a refining capacity of 9.8 million tons of crude oil per year and a Nelson Complexity Index of 9, providing a variety of quality products used in industrial operation, transportation, private consumption, agriculture and infrastructure. Besides production of fuels, the company produces in its wholly owned subsidiaries Polymers (through Carmel Olefins Ltd), Aromatics (through Gadiv Petrochemical Industries Ltd), and Lube-Oils (through Haifa Basic Oils Ltd). The Company's shares are listed on the Tel Aviv Stock Exchange under the ticker ORL. For additional information please visit http://www.orl.co.il.

ORL is controlled by the Israel Corporation Ltd. and Israel Petrochemical Enterprises Ltd., both public companies whose shares are traded on the Tel Aviv Stock Exchange.

The above noted in this release includes forward-looking statements based on Company data, as well as Company plans and estimations based on this data. The activity, results and other data may be substantially different in reality given uncertainty and various risks, including those discussed under risk factors in the Company's financial statements and Director's report.

Company Contact:
Rony Solonicof
Chief Economist and Head of Investor Relations
Tel. +972-4-878-8152
Contact IREn@orl.co.il

Investor Relations Contact:
Ehud Helft / Porat Saar
CCG Israel
Tel. (US) +1-646-233-2161 / (Int.) +972-52-776-3687
info@ccgisrael.com

SOURCE Oil Refineries Ltd



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