Rit Technologies Ltd - Report of Foreign Issuer (6-K)
03 6월 2008 - 7:10PM
Edgar (US Regulatory)
FORM 6-K
SECURITIES AND
EXCHANGE COMMISSION
Washington D.C. 20549
Report of Foreign
Private Issuer
Pursuant to Rule
13a-16 or 15d-16
of the Securities
Exchange Act of 1934
For the month of June 2008
Commission File Number:
000-29360
RiT TECHNOLOGIES LTD.
(Translation of registrants name into English)
24 Raoul Wallenberg
Street, Tel Aviv 69719, Israel
(Address of principal
executive offices)
Indicate by check mark whether the
registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F
x
Form 40-F
o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1): _____________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(7): _______________
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.
Yes
o
No
x
If Yes is marked,
indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
This Report on Form 6-K is hereby
incorporated by reference into the Registrants Registration Statements on Form S-8
(File Nos. 333-07510, 333-07512, 333-08206, 333-13656, 333-90750 and 333-117646) and Form
F-3 (File No. 333-118354), to be a part thereof from the date on which this report is
submitted, to the extent not superceded by documents or reports subsequently filed or
furnished.
As
required by the Israeli Companies Regulations (Relief for Interested Party Transaction),
2000 (the Relief Regulations), RiT Technologies Ltd. (the Company)
hereby reports the following changes in the compensation to its non-employee directors:
Background
The
minimum and maximum compensation that may be paid to external directors (as defined in the
Israeli Companies Law, 1999 (the Companies Law)) of Israeli public companies,
such as the Company, is regulated by the Companies Law and the Israeli Companies
Regulations (Rules regarding Compensation and Expenses to External Directors), 2000 (as
amended, the Compensation Regulations).
Other
than reimbursement of expenses and the grant of stock options described below, the Company
has not paid any compensation to its external directors (namely, Dr. Hagen Hultzsch and
Israel Frieder) or the other independent directors (namely, Prof. Liora Katzenstein and
Dr. Meir Barel) since 2004. In 2004, each of the said directors received a grant of
options to purchase up to 30,000 ordinary shares, at an exercise price of $2.82 per share.
Change in Compensation
On
March 6, 2008, the Compensation Regulations were amended in a manner that, among others,
mandates Israeli public companies to provide external directors with a minimum cash
compensation and allows such companies to increase (and only increase) the fees paid to
their existing external directors; provided the change is effected until August 6, 2008. A
company, such as the Company, is now allowed to pay each of its external directors annual
compensation of up to NIS 115,400 (currently equates to approximately $35,300) and up to
approximately NIS 3,470 (currently equates to approximately $1,060) per board meeting or
per board committee meeting, all linked to the Israeli Consumer Price Index.
In
light of the aforesaid amendments, the Companys Audit Committee and Board of
Directors have determined to set the annual compensation paid to the external directors at
NIS 71,300 (currently equates to approximately $21,800) and at NIS 3,470 (currently
equates to approximately $1,060) per board meeting or per board committee meeting, all
linked to the CPI, effective March 6, 2008. All other independent directors of the Company
(namely, Prof. Liora Katzenstein) shall receive the same compensation as the external
directors.
NOTE:
Under Rule 1C of the Relief Regulations, a shareholder(s) holding more than 1% of the
Companys outstanding shares may demand, by sending a written request to the
Companys principal offices (RiT Technologies Ltd., 24 Raoul Wallenberg Street, Tel
Aviv 69719, Israel, Attn.: VP Finance) no later than June 17, 2008, that the Company
convene a shareholder meeting to approve the said compensation to the independent
directors of the Company (namely, Prof. Liora Katzenstein).
SIGNATURES
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.
Date: June 3, 2008
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RiT TECHNOLOGIES LTD.
By: /s/ Simona Green
Simona Green
VP Finance
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RIT Technologies (CE) (USOTC:RITT)
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RIT Technologies (CE) (USOTC:RITT)
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