SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 6-K
REPORT OF FOREIGN
PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January, 2005
NEXUS TELOCATION SYSTEMS LTD.
1 Korazin Street
Givatayim, 53583
Israel
Indicate by check mark whether the
registrant files or will file annual reports under cover of
Form 20-F or Form 40-F.
Form 40-F o Form 20-F x
Indicate by check mark whether by
furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
No x Yes o
If “Yes” is marked,
indicate below the file number assigned to the registrant in connection
with Rule
12g3-2(b): 82-
For Immediate Release
Pointer (Eden Telecom) Ltd., a subsidiary of Nexus Telocation
Systems
Ltd., Signed an Agreement for the Purchase of the Activities and
Assets
of Shagrir
Givatayim, Israel, January 4, 2005. Nexus Telocation Systems Ltd. (OTC Bulletin Board: NXUSF), a leading provider of Stolen Vehicle Retrieval services, announced, further to its previous announcement of July 27, 2004, that its subsidiary, Pointer (Eden Telecom) Ltd., signed an agreement for the purchase of the activities and assets of Shagrir Towing Services Ltd. and Shagrir (1985) Ltd., in consideration for approximately NIS 200 million. NIS 40 million of the consideration is to be funded by a loan to be provided by Shagrir.
Shagrir is one of the leading companies in Israel in the field of automobile repair services and towing services. Shagrir has approximately 750,000 subscribers throughout Israel and its fleet of vehicles include approximately 130 service cars, mobile garages and towing vehicles.
The completion of the transaction is subject to receipt of bank funding, and receipt of regulatory approvals, including inter alia the approval of the Anti Trust Comptroller.
Nexus Telocation Systems Ltd. develops, manufactures and markets low energy and cost effective wireless communications and location based information systems through the application of digital spread spectrum technologies deployed in Stolen Vehicle Retrieval applications.
This press release contains
forward-looking statements with respect to the business, financial condition and results
of operations of Nexus and its affiliates. These forward-looking statements are based on
the current expectations of the management of Nexus, only, and are subject to risk and
uncertainties relating to changes in technology and market requirements, the
company’s concentration on one industry in limited territories, decline in demand for
the company’s products and those of its affiliates, inability to timely develop and
introduce new technologies, products and applications, and loss of market share and
pressure on pricing resulting from competition, which could cause the actual results or
performance of the company to differ materially from those contemplated in such
forward-looking statements. Nexus undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events. For a more detailed
description of the risks and uncertainties affecting the company, reference is made to the
company’s reports filed from time to time with the Securities and Exchange
Commission.
Contact: Ronen Stein,
V.P. and Chief Financial Officer
Tel.; 972-3-572 3111 e-mail: ronens@nexus.co.il
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| NEXUS TELOCATION SYSTEMS LTD. BY: /S/ Arik Avni —————————————— Arik Avni CEO |
Date: January 4, 2005