Hadera Paper Ltd.
Sale of Asset and Decision to Convene an Annual General Meeting
Hadera, Israel, June 2, 2010 – Hadera Paper Ltd. (AMEX:AIP) announces today, that on June 1, 2010, it
entered into an agreement for the sale of its rights to a plot of land with an area of approximately 7600 m² on
Totseret HaAretz Street in Tel Aviv, that is currently leased by the company from the Tel Aviv municipality (“The
Asset"), in return for some of NIS 64 million, plus VAT as prescribed by law ("The Agreement"). The purchasing
parties are Bayside Land Corporation Ltd., ("Bayside"), company indirectly controlled by IDB Development
Company Ltd., the controlling shareholder of the company and by Amot Investments Ltd. ("Amot"), with shares
of 71% and 29%, respectively.
The rights to the asset (which is a vacant lot, in which the building rights have yet to be utilized) will be sold in
their present situation (As Is) and subject to the agreement, and include the rights and liabilities of the company
pursuant to the leasing agreement signed between the company and the Tel Aviv Municipality in 2002 ("The
Leasing Agreement"), pursuant to meeting the precondition and the absence of the nullifying conditions set forth in
the agreement, as detailed below.
Pursuant to the finalization of the transaction according to the terms of the agreement, the company is expected to
record in its financial statements net capital gains totaling NIS 27.5 million. It should be noted that the information
regarding the anticipated capital gains that will be recorded by the company upon finalization of the transaction as
set forth above, constitutes forward-looking information as defined by the Securities Law (1968), based on the
Company's information and estimates at the date of the report, which may not materialize - in whole or in part -
or that may materialize in the matter that is consistently different from that anticipated by the company, with the
factor that may affect the outcome being the fin