U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Y.M. Noy Investments Ltd.
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(Last) (First) (Middle)
33 Havazelet Hasharon Street
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(Street)
Herzliya, Israel
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Ampal - American Israel Corporation (NASDAW: AMPL)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
04/02
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[_] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Response) (Over)
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Stock Options to $6.06 04/09/02 P* V 159,000 ** Class A 159,000 *159,000 D See
Purchse Class A Stock $1.40013 below
Stock Expla-
nation
of
Responses
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Stock Options to $5.94 04/09/02 P* V 170,000 ** Class A 170,000 *170,000 D See
Purchse Class A Stock $1.52013 below
Stock Expla-
nation
of
Responses
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* On April 9, 2002, Y.M. Noy Investments Ltd. ("Noy") and several employees of
Ampal-American Israel Corporation ("Ampal") executed 16 Option Assignment
Agreements (the "Option Assignment Agreements"). Pursuant to the Option
Assignment Agreements, Noy has agreed to acquire 329,000 options (the "'Stock
Options") to purchase shares of Ampal's Class A Stock, $1.00 par value (the
"Class A Stock"). On February 26, 2002 Noy also signed a stock purchase
agreement (the "Stock Purchase Agreement") agreeing to acquire approximately
11,115,112 shares of Class A Stock (the "Ampal Shares"), subject to the
satisfaction or waiver of certain conditions.
The sale and purchase of the 329,000 Stock Options pursuant to the Option
Assignment Agreements are subject to the satisfaction or waiver of certain
conditions, including the closing of the purchase and sale of the Ampal Shares
pursuant to the terms and conditions of the Stock Purchase Agreement (such
date, the "Closing Date"). If the transactions contemplated by the Stock
Purchase Agreement are not consumated for any reason and the Stock Purchase
Agreement is terminated, the Option Assignment Agreements will, without
further action, become null and void and of no force and effect.
** Pursuant to Section 1.3 (b) of the Stock Purchase Agreement, Noy has agreed
to exercise all of the Stock Options purchased pursuant to the Option
Assignment Agreements on the Closing Date.
/s/ Yosef A. Maiman 05/07/2002
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**Signature of Reporting Person Date
Name: Yosef A. Maiman
Title: Chairman of the Board of Directors
(On behalf of Y.M. Noy Investments Ltd.)
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
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