IAI prepares for the issue of 25% of it's shares: employees will received Restricted shares

The aerospace industry's management continues to prepare for the issue, despite demands from the workers' committee that is delaying it. The management, headed by CEO Nimrod Shaffer, presented to the company's board of directors a long-term equity compensation plan for the aerospace industry, which will be implemented when the issuance of 25% of the company's shares is implemented.
The remuneration program includes distributing shares to RSUs (shortening Restricted Share Units) that will mature over several years. The plan is in the approval stages of the Government Companies Authority and conditional, among other things, with the consent of the workers' union.
In previous government company offerings, employees received 10% of the shares issued at a 30% discount. The IAA management promotes the granting of shares to employees free of charge, but those that will not be mostly tradable upon receipt.
"Formulating the Company's Equity Compensation Plan represents another step and significant progress in preparing the Company's minority share issuance process and positioning it as a leading technological company in the country and in the world," explained Sheffer. "Employees will be part of the company's long-term success and will benefit from the public offering of its shares on the stock exchange, In accordance with market custom and similar to leading technology companies in Israel and around the world. The company's employees are the highest quality human and engineering capital in the Israeli economy.
The meeting of the Ministerial Committee on Issue, which was scheduled to take place last week, was canceled due to opposition from the IAA staff. Committee Chairman Yair Katz made it clear that he would oppose the move until the state waives a demand for workers' wages and agrees to release the company from the Supervisor of Wages and the Government Companies Authority.
Meanwhile, the aerospace industry will for the first time expose long-range drones and long-stay (MALE) HERON MK II, at the Singapore Airshow show. Operational worldwide. The HERON MK II is a strategic, multi-tasking and multi-aircraft aircraft that incorporates the most advanced technologies from the aerospace industry.
The HERON MK II model is another member of the HERON family, which is a significant advantage to HERON's many operators around the world, and is operated with the same operational concepts. These perceptions are based on the vast knowledge and experience of the UAV, which has accumulated in the aerospace industry for nearly 50 years of operation, more than 1,800,000 cumulative flight hours and over 50 operational customers.
The HERON MK II has a Rotax 915 iS engine, reaches 35,000 feet, a maximum speed of 140 knots and can stay in the air for up to 45 hours of flight. Thanks to improved manufacturing technologies, the HERON MK II has a wider and stronger body structure, which allows quick and easy maintenance without changing the UAV's self-weight. The UAV allows new configurations, and has long-range observation (radar) sensor and radar , And capable of carrying a wide variety of other UAVs such as: ELINT, COMINT, Specials, etc. The outstanding UAV capability is the ability to perform standoff capability, ie gathering intelligence on a particular target from a distance (tens of miles) and without the need Cross a border, thanks to his ability to carry larger and improved sensors. In addition, the HERON MK II has improved avionics, and improved engine and Marines.
Aerospace Vice President and Chief of Military Aviation, Moshe Levy: "We are proud to present further and important development in the aerospace industry's UAV. The HERON MK II enables a significant expansion of the operational envelope, with emphasis on the ability to perform intelligence gathering missions. This system is another member of the HERON family, considered the world's leading strategic UAV. The opportunity to offer the HERON MK II opens up more opportunities for us worldwide, enabling us to expand the range of operational solutions offered to our customers. "