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 November 2019

TAT TECHNOLOGIES LTD.
(Name of Registrant)

      P.O.BOX 80, Gedera 70750 Israel
(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒          Form 40-F

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           No

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ____________


TAT Technologies Ltd.

6-K Items

1.
Press Release dated November 29, 2019 re TAT Technologies Ltd. Reports Third Quarter 2019 Results.

2


ITEM 1

Press Release
Source: TAT Technologies Limited

TAT Technologies Reports Third Quarter 2019 Results

GEDERA, Israel, November 29, 2019 - TAT Technologies Ltd. (NASDAQ: TATT - News) (“TAT” or the “Company”), a leading provider of products and services to the commercial and military aerospace and ground defense industries, reported today its unaudited results for the three month and nine months periods ended September 30, 2019.

Key Financial Highlights:

Revenues for Q3 2019 increased by 13% to $26.1 million compared with $23.2 million in Q3 2018.  Revenues for the nine-months period that ended on September 30, 2019 increased by 4% to $75.4 million compared with $72.4 million in the nine-months period that ended on September 30, 2018.

Gross profit for Q3 2019 increased by 40% to $4.2 million (16.3% of revenues) compared with $3.0 million (13.1% of revenues) in Q3 2018.  Gross profit for the nine-months period that ended on September 30, 2019 increased by 27% to $11.2 million (14.8% of revenues) compared with $8.8 million (12.2% of revenues) in the nine-months period that ended on September 30, 2018.

EBITDA for Q3 2019 increased by 100% to $2.0 million compared with $1.0 million in Q3 2018. EBITDA for the nine-months period that ended on September 30, 2019 increased by 380% to $4.8 million compared with $1.0 million in the nine-months period that ended on September 30, 2018.

GAAP net income was $0.16 million, or $0.02 per diluted share in Q3 2019 compared with a net loss of $0.5 million, or ($0.06) per diluted share in Q3 2018. GAAP net income was $0.34 million, or $0.04 per diluted share in the nine-months period that ended on September 30, 2019 compared with a net loss of $2.7 million, or ($0.30) per diluted share in the nine-months period that ended on September 30, 2018.

Mr. Igal Zamir, CEO and President of TAT Technologies stated, "We are pleased with the results of the recent nine months. Revenues continue to grow both on the MRO and OEM segments. TAT continues its improvements in all operational aspects and profitability”.

Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with GAAP, the Company also presents a Non-GAAP presentation of Net Income and Adjusted EBITDA.  The adjustments to the Company’s GAAP results are made with the intent of providing both management and investors a more complete understanding of the Company’s underlying operational results, trends and performance.  Non-GAAP Net Income excludes changes, income or losses, as applicable, related to one or more of the following: (1) share-based compensation expenses and/or (2) certain tax impact and/or (3) acquisition related expenses and/or (4) share in results of equity investment of affiliated companies. Adjusted EBITDA is calculated as net income before the Company's share in results and sale of equity investment of affiliated companies, share-based compensation, taxes on income, financial (expenses) income, net, and depreciation and amortization.  Non-GAAP Net Income and Adjusted EBITDA, however, should not be considered as alternatives to net income and operating income for the period and may not be indicative of the historic operating results of the Company; nor they are meant to be predictive of potential future results.  Non-GAAP Net Income and Adjusted EBITDA are not measures of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. See reconciliation of GAAP Net Income to Non-GAAP Net Income and Adjusted EBITDA in pages 9 and 12 below.
3

About TAT Technologies LTD
 
TAT Technologies Ltd. is a leading provider of services and products to the commercial and military aerospace and ground defense industries. TAT operates under four segments: (i) Original equipment manufacturing (“OEM”) of heat transfer solutions and aviation accessories through its Gedera facility; (ii) MRO services for heat transfer components and OEM of heat transfer solutions through its Limco subsidiary; (iii) MRO services for aviation components through its Piedmont subsidiary; and (iv) Overhaul and coating of jet engine components through its Turbochrome subsidiary. TAT controlling shareholders is the FIMI Private Equity Fund.

TAT’s activities in the area of OEM of heat transfer solutions and aviation accessories primarily include the design, development and manufacture of (i) broad range of heat transfer solutions, such as pre-coolers heat exchangers and oil/fuel hydraulic heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed on board aircraft in and ground applications; and (iii) a variety of other mechanical aircraft accessories and systems such as pumps, valves, and turbine power units.

TAT’s activities in the area of MRO Services for heat transfer components and OEM of heat transfer solutions primarily include the MRO of heat transfer components and to a lesser extent, the manufacturing of certain heat transfer solutions. TAT’s Limco subsidiary operates an FAA-certified repair station, which provides heat transfer MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT’s activities in the area of MRO services for aviation components include the MRO of APUs, landing gears and other aircraft components. TAT’s Piedmont subsidiary operates an FAA-certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT’s activities in the area of overhaul and coating of jet engine components includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes and afterburner flaps.

For more information of TAT Technologies Ltd., please visit our web-site:
www.tat-technologies.com

Contact:
Mr. Ehud Ben-Yair
Chief Financial Officer
Tel: 972-8-862-8503
ehudb@tat-technologies.com

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements which include, without limitation, statements regarding possible or assumed future operation results. These statements are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause our results to differ materially from management's current expectations. Actual results and performance can also be influenced by other risks that we face in running our operations including, but are not limited to, general business conditions in the airline industry, changes in demand for our services and products, the timing and amount or cancellation of orders, the price and continuity of supply of component parts used in our operations, the change of control that will occur on the sale by the receiver of the Company’s shares held by our previously controlling stockholders, and other risks detailed from time to time in the Company's filings with the Securities Exchange Commission, including, its annual report on form 20-F and its periodic reports on form 6-K. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.
4

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEET
(In thousands)

 
September 30,
   
December 31,
 
   
2019
   
2018
 
   
(unaudited)
   
(audited)
 
ASSETS
           
CURRENT ASSETS:
           
Cash and cash equivalents
 
$
16,815
   
$
15,950
 
Accounts receivable, net
   
20,515
     
19,277
 
Other current assets and prepaid expenses
   
3,404
     
3,627
 
Inventory, net
   
41,686
     
38,605
 
                 
Total current assets
   
82,420
     
77,459
 
                 
NON-CURRENT ASSETS:
               
Investment in affiliates
   
949
     
1,078
 
Funds in respect of employee rights upon retirement
   
1,372
     
2,253
 
Deferred income taxes
   
230
     
162
 
Intangible assets, net
   
810
     
911
 
Property, plant and equipment, net
   
21,213
     
21,424
 
Operating lease right of use assets
   
6,779
     
-
 
                 
Total non-current assets
   
31,353
     
25,828
 
Total assets
 
$
113,773
   
$
103,287
 
                 
LIABILITIES AND EQUITY
               
                 
CURRENT LIABILITIES:
               
Accounts payable
 
$
10,779
   
$
8,270
 
Accrued expenses
   
7,946
     
6,411
 
Operating lease liabilities
   
1,331
     
-
 
                 
Total current liabilities
   
20,056
     
14,681
 
                 
NON CURRENT LIABILITIES:
               
Other long-term liabilities
   
82
     
180
 
Liability in respect of employee rights upon retirement
   
1,736
     
2,648
 
Deferred income taxes
   
1,259
     
1,484
 
Operating lease liabilities
   
5,772
     
-
 
                 
 Total non-current liabilities
   
8,849
     
4,312
 
Total liabilities
   
28,905
     
18,993
 
                 
EQUITY:
               
Share capital
   
2,809
     
2,809
 
Additional paid-in capital
   
65,526
     
65,535
 
Treasury stock at cost
   
(2,088
)
   
(2,088
)
Accumulated other comprehensive income (loss)
   
34
     
(206
)
Retained earnings
   
18,587
     
18,244
 
Total shareholders' equity
   
84,868
     
84,294
 
                 
Total liabilities and shareholders' equity
 
$
113,773
   
$
103,287
 

5

TAT TECHNOLOGIES AND ITS SUBSIDIARIES
 
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except share and per share data)

   
Three months ended
   
Nine months ended
   
Year ended
 
   
September 30,
   
December 31,
 
   
2019
   
2018
   
2019
   
2018
   
2018
 
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Audited)
 
Revenues:
                             
Products
 
$
5,725
   
$
5,543
   
$
17,924
   
$
18,539
   
$
23,151
 
Services
   
20,351
     
17,642
     
57,454
     
53,835
     
70,027
 
     
26,076
     
23,185
     
75,378
     
72,374
     
93,178
 
                                         
Cost of goods:
                                       
Products
   
4,853
     
5,752
     
15,037
     
18,733
     
23,807
 
Services
   
16,983
     
14,399
     
49,166
     
44,838
     
60,980
 
     
21,836
     
20,151
     
64,203
     
63,571
     
84,787
 
Gross Profit
   
4,240
     
3,034
     
11,175
     
8,803
     
8,391
 
                                         
Operating expenses:
                                       
Research and development, net
   
46
     
(35
)
   
95
     
460
     
553
 
Selling and marketing
   
1,329
     
1,171
     
3,803
     
3,806
     
4,913
 
General and administrative
   
2,031
     
1,987
     
5,833
     
6,733
     
8,559
 
Other loss
   
-
     
(1
)
   
-
     
(1
)
   
(4
)
     
3,406
     
3,122
     
9,731
     
10,998
     
14,021
 
Operating income (loss)
   
834
     
(88
)
   
1,444
     
(2,195
)
   
(5,630
)
                                         
Financial expenses, net
   
(159
)
   
(58
)
   
(543
)
   
(39
)
   
(102
)
                                         
Income (loss) before taxes on income (tax benefit)
   
675
     
(146
)
   
901
     
(2,234
)
   
(5,732
)
                                         
Taxes on income (tax benefit)
   
453
     
356
     
419
     
326
     
(1,464
)
                                         
Income (loss) before equity investment
   
222
     
(502
)
   
482
     
(2,560
)
   
(4,268
)
                                         
Share in results of affiliated companies
   
(65
)
   
(42
)
   
(139
)
   
(102
)
   
(140
)
                                         
Net income (loss)
 
$
157
   
$
(544
)
 
$
343
   
$
(2,662
)
 
$
(4,408
)
                                         
Basic and diluted income (loss) per share
                                       
                                         
Net income (loss) per share
 
$
0.02
   
$
(0.06
)
 
$
0.04
   
$
(0.30
)
 
$
(0.5
)
                                         
Weighted average number of shares outstanding
                                       
Basic
   
8,874,696
     
8,874,696
     
8,874,696
     
8,861,567
     
8,864,885
 
Diluted
   
8,874,696
     
8,874,696
     
8,874,696
     
8,861,567
     
8,864,885
 

6

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)

   
Three months ended
   
Nine months ended
   
Year ended
 
   
September 30,
   
December 31,
 
   
2019
   
2018
   
2019
   
2018
   
2018
 
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Audited)
 
Net income (loss)
                             
Other comprehensive income
 
$
157
   
$
(544
)
 
$
343
   
$
(2,662
)
 
$
(4,408
)
Net unrealized income (losses) from derivatives
   
72
     
16
     
358
     
(332
)
   
(672
)
Reclassification adjustments for gains (losses) included in net income and inventory
   
(104
)
    123      
(118
)
   
165
     
331
 
Total other comprehensive income (loss)
 
$
125
   
$
(405
)
 
$
583
   
$
(2,829
)
 
$
(4,749
)


7

TAT TECHNOLOGIES AND ITS SUBSIDIARIES
 
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(In thousands, except share data)

   
TAT Technologies Ltd. Shareholders
       
                                           
   
Share capital
         
Accumulated
                   
   
Number of shares issued
   
Amount
   
Additional paid-in capital
   
other comprehensive income (loss)
   
Treasury shares
   
Retained earnings
   
Total equity
 
                                           
BALANCE AT DECEMBER 31, 2016 (audited)
   
9,102,917
   
$
2,797
   
$
64,760
   
$
(73
)
 
$
(2,088
)
 
$
23,256
   
$
88,652
 
CHANGES DURING THE YEAR ENDED DECEMBER 31, 2017 (audited):
                                                       
Comprehensive income
   
-
     
-
     
-
     
208
     
-
     
2,396
     
2,604
 
Share based compensation expenses
   
-
     
-
     
174
     
-
     
-
     
-
     
174
 
 Exercise of option
   
19,584
     
5
     
139
     
-
     
-
     
-
     
144
 
 Dividend distributed
   
-
     
-
     
-
     
-
     
-
     
(3,000
)
   
(3,000
)
BALANCE AT DECEMBER 31, 2017 (audited)
   
9,122,501
   
$
2,802
   
$
65,073
   
$
135
   
$
(2,088
)
 
$
22,652
   
$
88,574
 
CHANGES DURING THE YEAR ENDED DECEMBER 31, 2018 (audited):
                                                       
Comprehensive loss
   
-
     
-
     
-
     
(341
)
   
-
     
(4,408
)
   
(4,749
)
 Share based compensation expenses
   
-
     
-
     
272
     
-
     
-
     
-
     
272
 
 Exercise of options
   
26,668
     
7
     
190
     
-
     
-
     
-
     
197
 
BALANCE AT DECEMBER 31, 2018 (audited)
   
9,149,169
   
$
2,809
   
$
65,535
   
$
(206
)
 
$
(2,088
)
 
$
18,244
   
$
84,294
 

8

TAT TECHNOLOGIES AND ITS SUBSIDIARIES
 
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(In thousands, except share data)

   
TAT Technologies Ltd. Shareholders
       
                                           
   
Share capital
         
Accumulated
                   
   
Number of shares issued
   
Amount
   
Additional paid-in capital
   
other comprehensive income (loss)
   
Treasury shares
   
Retained earnings
   
Total equity
 
                                           
BALANCE AT DECEMBER 31, 2018 (audited)
   
9,149,169
   
$
2,809
   
$
65,535
   
$
(206
)
 
$
(2,088
)
 
$
18,244
   
$
84,294
 
CHANGES DURING THE NINE MONTHS ENDED SEPTEMBER 30, 2019 (unaudited):
                                                       
Comprehensive income
   
-
     
-
     
-
     
240
     
-
     
343
     
583
 
 Share based compensation income
   
-
     
-
     
(9
)
   
-
     
-
     
-
     
(9
)
BALANCE AT SEPTEMBER 30, 2019 (unaudited)
   
9,149,169
   
$
2,809
   
$
65,526
   
$
34
   
$
(2,088
)
 
$
18,587
   
$
84,868
 
                                                         
   
Share capital
           
Accumulated
                         
   
Number of shares issued
   
Amount
   
Additional paid-in capital
   
other comprehensive income (loss)
   
Treasury shares
   
Retained earnings
   
Total equity
 
                                                         
BALANCE AT JULY 1, 2019 (unaudited)
   
9,149,169
   
$
2,809
   
$
65,490
   
$
66
   
$
(2,088
)
 
$
18,430
   
$
84,707
 
CHANGES DURING THE THREE MONTHS ENDED SEPTEMBER 30, 2019 (unaudited):
                                                       
Comprehensive income
   
-
     
-
     
-
     
(32
)
   
-
     
157
     
125
 
 Share based compensation income
   
-
     
-
     
36
     
-
     
-
     
-
     
36
 
BALANCE AT SEPTEMBER 30, 2019 (unaudited)
   
9,149,169
   
$
2,809
   
$
65,526
   
$
34
   
$
(2,088
)
 
$
18,587
   
$
84,868
 

9

TAT TECHNOLOGIES AND ITS SUBSIDIARIES
 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

   
Three months ended
   
Nine months ended
   
Year ended
 
   
September 30,
   
December 31,
 
   
2019
   
2018
   
2019
   
2018
   
2018
 
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Audited)
 
CASH FLOWS FROM OPERATING ACTIVITIES:
                             
Net income (loss)
 
$
157
   
$
(544
)
 
$
343
   
$
(2,662
)
 
$
(4,408
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
                                       
                                         
Depreciation and amortization
   
1,097
     
1,048
     
3,245
     
422
     
4,185
 
Loss (gain) from change in fair value of derivatives
   
(38
)
   
35
     
(293
)
   
(347
)
   
382
 
Provision for doubtful accounts
   
-
     
(474
)
   
-
     
102
     
(347
)
Share in results of equity investment of affiliated Company
   
65
     
42
     
139
     
165
     
140
 
Share based compensation
   
36
     
46
     
(9
)
   
422
     
272
 
Non cash finance expense
   
107
     
-
     
324
     
-
     
-
 
Liability in respect of employee rights upon retirement
   
(134
)
   
16
     
(912
)
   
(287
)
   
(587
)
Deferred income taxes, net
   
(115
)
   
181
     
(293
)
   
126
     
(102
)
Changes in operating assets and liabilities:
                                       
Decrease (increase) in trade accounts receivable
   
1,965
     
2,015
     
(1,238
)
   
5,036
     
6,814
 
Decrease (increase) in other current assets and prepaid expenses
   
487
     
172
     
1,743
     
(576
)
   
(1,575
)
Decrease (increase) in inventory
   
(1,043
)
   
(569
)
   
(3,165
)
   
(481
)
   
161
 
Increase (decrease) in trade accounts payable
   
56
     
1,042
     
2,590
     
10
     
(969
)
Increase (decrease) in accrued expenses
   
1,193
     
151
     
1,535
     
(1,741
)
   
(1,920
)
Increase (decrease) in other long-term liabilities
   
(20
)
   
(25
)
   
(98
)
   
54
     
34
 
Net cash provided by operating activities
 
$
3,813
   
$
3,136
   
$
3,911
   
$
2,906
   
$
2,080
 
CASH FLOWS FROM INVESTING ACTIVITIES:
                                       
Investment in affiliated company
   
-
     
-
     
(10
)
   
-
     
(26
)
Funds in respect of employee rights upon retirement
   
-
     
-
     
(22
)
   
(22
)
   
(22
)
Proceeds from sale of property and equipment
   
-
     
-
     
-
     
7
     
7
 
Purchase of property and equipment
   
(1,287
)
   
(1,177
)
   
(3,014
)
   
(3,362
)
   
(4,270
)
Maturities of short-term deposits
                   
-
     
-
     
470
 
Cash flows used in investing activities
 
$
(1,287
)
 
$
(1,177
)
 
$
(3,046
)
 
$
(3,377
)
 
$
(3,841
)
 CASH FLOWS FROM FINANCING ACTIVITIES:
                                       
 Exercise of options
   
-
     
95
     
-
     
197
     
197
 
Cash flows provided by financing activities
 
$
-
   
$
95
   
$
-
   
$
197
   
$
197
 
                                         
Net increase (decrease) in cash and cash equivalents
   
2,525
     
2,054
     
865
     
(274
)
   
(1,564
)
Cash and cash equivalents at beginning of period
   
14,290
     
15,186
     
15,950
     
17,514
     
17,514
 
Cash and cash equivalents at end of period
 
$
16,815
   
$
17,240
   
$
16,815
   
$
17,240
   
$
15,950
 


10

TAT TECHNOLOGIES AND ITS SUBSIDIARIES
 
 RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED)
(In thousands)

   
Three months ended
   
Nine months ended
   
Year ended
 
   
September 30,
   
September 30,
   
December 31,
 
   
2019
   
2018
   
2019
   
2018
   
2018
 
                               
Net income (loss)
 
$
157
   
$
(544
)
 
$
343
   
$
(2,662
)
 
$
(4,408
)
Adjustments:
                                       
                                         
Share in results of equity investment of affiliated companies
   
65
     
42
     
139
     
102
     
140
 
Taxes on income (tax benefit)
   
453
     
356
     
419
     
326
     
(1,464
)
Financial expenses, net
   
159
     
58
     
543
     
39
     
102
 
Depreciation and amortization
   
1,145
     
1,048
     
3,341
     
3,085
     
4,185
 
Share based compensation
   
36
     
46
     
(9
)
   
165
     
272
 
Adjusted EBITDA
 
$
2,015
   
$
1,006
   
$
4,776
   
$
1,055
   
$
(1,173
)

11

Note to the financial statements
 
In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. The new standard establishes a right-of-use (ROU) model that requires a lessee to recognize a ROU assets and lease liabilities on the balance sheet. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the statement of operations. The Company adopted the new standard on January 1, 2019 using the modified retrospective transition method and did not restate comparative periods. The new standard provides a number of optional practical expedients in transition. The Company recognizes the lease expenses in the consolidated statements of Operations on a straight-line basis over the lease period.
 
Additionally, the Company did not separate lease and non-lease components for all of its leases. The Company elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, the Company will not recognize ROU assets or lease liabilities, and this includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. Instead, the Company will continue to recognize the lease payments for those leases in profit or loss on a straight-line basis over the lease term.

The most significant effects of adoption relate to (1) the recognition of new ROU assets and lease liabilities on its balance sheet for real estate operating leases; and (2) recording of Non-cash finance expenses on its statement of income.

The adoption of the standard resulted in recognition of $7.3 million of lease assets and lease liabilities as of January 1, 2019 on the Company’s consolidated balance sheets. During the three months period ended September 30, 2019 and during the nine months period ended September 30, 2019 the Company recorded non-cash finance expenses in the amount of $0.11 million and $0.32 million, respectively.


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SIGNATURE

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.

 
TAT TECHNOLOGIES LTD.
  (Registrant)

By: /s/ Ehud Ben-Yair
Ehud Ben-Yair
Chief Financial Officer

Date: November 29, 2019

13