פרוטוקול ישיבת הוועד המנהל 21.3.2019.pdf

The Ofek Cooperative Association for Capital Management Ltd. held a meeting on March 21, 2019, with the following attendees: Yehuda Talmon, Ran Hachim, Tali Bahat, Yifat Solal, Uri Ofir, Alona Lipshitz, Tom Drori Hachim, and Eitan Matoki. The meeting discussed two main topics:

1. The tender for the banking computing service - continuation of the discussion on the principles agreement.
2. Regulatory update.

Tom reported that after a week of negotiations with TCS, they reached a final draft of the agreement, which includes two main points:
1. The cost of Ofek's exit from the contract, and
2. The stages of exit and the associated costs.

The meeting also discussed the timeline for the tender, with the expectation that TCS will win the tender and start receiving grants from the state. Ofek will not have any financial obligations until the system is operational, and the payment arrangements will be similar to those previously discussed.

The attendees also discussed the relationship between TCS and the state, and the synchronization of their entry into activity. Yehuda estimated that the tender results will be announced towards the end of 2019, and that Ofek will have a year of activity before receiving the system from TCS.

The meeting concluded with a unanimous decision to approve the signing of the principles agreement with TCS. Additionally, Yehuda updated the attendees on his conversation with Yoav Gafni, Deputy Director of the Israel Securities Authority, who agreed to meet with Ofek to finalize the details.