Más contenido relacionado
Más de Tashtiot media (20)
Maya
- 3. 3
â«×שך×â¬â«× ××⬠â«×ק×â¬2,â«×××××ת⬠â«×©×ת׀×תâ¬
â«×ש×⬠â«×©×⬠â«×××ךק××ך×××⬠â«×××â¬â«×ש×ת׀×ת⬠â«×¢× ××× ×⬠â«×׊×⬠â«×¢×⬠â«×××××⬠â«×ª×£â¬â«×©×⬠â«×תק××€×â¬
â«×ª×©×¢×â¬â«×××ש××â¬â«×©â¬â«×â¬â«×¡×ª×××â¬â«×â¬â«××××â¬30â«×ס׀×××ךâ¬2010
â«×××××⬠â«×ש×תף⬠â«××ךק××ך×××â¬-â«××⬠â«×× ×⬠â«××××⬠â«×שך××ק×â¬â«××¢â¬"â«×â¬,â«×¢×⬠â«×××ךק××ך×××⬠â«×××⬠â«×ת⬠â«××××ש⬠â«×ת×××â¬
â«×¢× ××× ×⬠â«×׊×â¬â«× ××⬠â«×שך××ק×â¬2,â«×××⬠â«×©×ת׀×תâ¬â«××תâ¬)â«××××â¬" :â«×ש×ת׀×תâ¬"(â«××××â¬30â«×ס׀×××ךâ¬2010)â«××××â¬:
"â«××××⬠â«×ª×ך××â¬"(â«××â¬â«×©×⬠â«×ª×§××€×â¬â«×ª×©×¢×â¬â«×××ש××â¬â«×©â¬â«×â¬â«×¡×ª××××â¬â«×ª×ך××⬠â«×××ת×â¬)â«××××â¬":â«××××⬠â«×ª×§×׀תâ¬(",
â«×¢×š×⬠â«× ××ך×ת⬠â«××ª×§× ×ת⬠â«××ת××â¬)â«××××××××⬠â«×ª×§×׀ת×××⬠â«××××תâ¬(â«×תשâ¬"â«×â¬-1970.
1.â«××××⬠â«×תק×׀ת⬠â«××ך××¢××â¬:
1.1â«××קתâ¬"â«×ª×ךâ¬â
â«×××××¢×⬠â«××××⬠â«×תק×׀תâ¬Noble Energy Mediterranean Ltd.)â«××××â¬" :â«× ×××â¬(",â«××€×¢××תâ¬
â«×׀ך××ק×â¬,â«×××קת⬠â«×ש×ת׀××â¬"â«×ª×ךâ¬",â«×××ךת⬠â«×§××××⬠â«××â¬Netherland, Sewell and
Associates)â«××××â¬" :NSAI("â«×¢×ª×××ת⬠â«×עך×ת⬠â«××׊×ע⬠â«×ת×××⬠â«×× ×ס×ת⬠â«×××¢×ץ⬠â«××ךת⬠â«×©××× ×â¬
â«× ×€×⬠â«×××ך×⬠â«×©×⬠â«×ך×ך××תâ¬,â«×ש××⬠â«××××¢×⬠â«×××⬠â«×š×ך××ת⬠â«×ת⬠â«×××¢×××⬠â«×××â¬"â«×ª×ךâ¬."â«××¢××â¬â«××׊ע⬠â«××â¬
â«××××¢×× ××⬠â«× ×ת××⬠â«×××׊××⬠â«××׀ך×⬠â«×ק××××××⬠â«××׊××⬠â«× ×ת××⬠â«×××ש×⬠â«×©×תק×××⬠â«×ª×׊××ת⬠â«×עק××תâ¬
)Cores(â«×§××××⬠â«×××××⬠â«×©××׊××â¬"â«×ª×ךâ¬2."â«×©×⬠â«××××⬠â«××ת××â¬NSAI,â«××××¢×⬠â«×××⬠â«×š×ך××תâ¬
â«×ש××â¬"â«×ª×ךâ¬"â«×ק×××ך××תâ¬C2)Contingent Gas Resources(â«××⬠â«××עך××תâ¬-TCF8.7)â«×â¬-
BCM247(â«×©×⬠â«××ש×ך×⬠â«××¢×â¬â«×ש××⬠â«××€×ת××⬠â«×ª××× ×תâ¬"â«×ª×ךâ¬) "â«××××ךת⬠â«×¡××ך⬠â«×Š×€×⬠â«××⬠â«×ª××××⬠â«×שךâ¬
â«××ש××⬠â«×©××׀ק⬠â«××××¢×⬠â«×××â¬(â«×ק×××ך×ת⬠â«×ª×¡×××× ×⬠â«××â¬2P)Proved + Probable Reserves(,
â«×⬠â«××¢××ת⬠â«×××תâ¬-TCF7.7)â«×â¬-BCM218(,â«×ק×××ת⬠â«××עך××⬠â«×©××עך××â¬)â«×⬠â«×©×⬠â«×××××â¬-13%.(
â«×× â¬ â«×××⬠â«×š×ך××תâ¬"â«×ק×××ך×ת⬠â«××⬠â«×š×ך××ת⬠â«×××××ת⬠â«×â¬C1,â«×â¬â«×⬠â«×©×⬠â«××קףâ¬-TCF6.5)â«×â¬-BCM184(
â«××€×ת××⬠â«×ª××× ×ת⬠â«×©×⬠â«××ש×ך×⬠â«××¢×â¬)â«×©××׀ק⬠â«××××¢×⬠â«×××⬠â«××××ךת⬠â«×¡××ך⬠â«×Š×€×⬠â«××⬠â«×ª××××⬠â«×שךâ¬
â«××ש××â¬(â«×ק×××ך×ת⬠â«×ª×¡×××× ×⬠â«××â¬P1)Proved Reserves(,â«×⬠â«××¢××ת⬠â«×××תâ¬-TCF6)â«×â¬-
BCM170(â«×ק×××ת⬠â«××עך××⬠â«×©××עך××â¬)â«×⬠â«×©×⬠â«×××××â¬-8%.(â«××⬠â«×××â¬,â«×¢××× ×â¬NSAIâ«×××׊ע⬠â«×תâ¬
â«××××¢×⬠â«×××⬠â«×¢×ª×××ת⬠â«×©×⬠â«××××××⬠â«××€××× ×Š×××â¬)Gross Mean Resources(â«×ש××â¬"â«×ª×ךâ¬"â«××â¬-
TCF8.4)â«×â¬-BCM238(,â«×⬠â«××¢××ת⬠â«×××תâ¬-TCF7.3)â«×â¬-BCM207(,â«××עך××⬠â«×©××עך××â¬
â«×ק×××תâ¬)â«×⬠â«×©×⬠â«×××××â¬-15%.(
NSAIâ«××׊×××â¬â«×××××ת⬠â«×ס×××⬠â«××ת×⬠â«×ש×ת׀×תâ¬â«×ך×ך××ת⬠â«×××ס⬠â«××××ך⬠â«××××⬠â«× ת×× ×â¬
â«××€××⬠â«××××××××â¬â«××××â¬â«×ש×ת׀×ת⬠â«×©×â¬.
â«×¢×ª××⬠â«×€× ×⬠â«×Š××€×⬠â«×××ע⬠â«××××⬠â«×××ך×â¬ââ«×עך××תâ¬NSAIâ«××× ×⬠â«×ª×ך⬠â«×ש××⬠â«××××¢×⬠â«×××⬠â«×š×ך××ת⬠â«×××ךâ¬
â«×¢×ª××⬠â«×€× ×⬠â«×Š××€×⬠â«××××¢â¬.â«×××סס×ת⬠â«××¢××⬠â«××עך××תâ¬,â«××תך⬠â«×××â¬,â«××××××××⬠â«×××ע⬠â«×¢×â¬,â«×××ך⬠â«×××××€×ס×â¬,
â«×××ת⬠â«××ק××××××⬠â«×©× תק××â¬â«× ×××â¬â«×©×⬠â«×ק׊××¢××ת⬠â«××שעך×ת⬠â«×עך××ת⬠â«×××ך⬠â«×××× ×â¬NSAI,â«××â¬â«×©×šâ¬
- 4. 4
â«×××××ת⬠â«××⬠â«×§×××ת⬠â«××⬠â«××××××â¬.â«×× ×ª×× ××⬠â«×©×⬠â«×¢×Š×××ת⬠â«×××ק×⬠â«××⬠â«×עך××⬠â«××׊ע×⬠â«××⬠â«×ש×ת׀×תâ¬
â«×©×⬠â«××¢×××⬠â«×××ך⬠â«××××⬠â«××××ך⬠â«×©× ×סך×â¬NSAIâ«×עך×ת⬠â«××׊×ע⬠â«×ת×××⬠â«××××××××ת⬠â«×©××× ×â¬
â«×××¢×⬠â«×××⬠â«× ×€×⬠â«×××ך×⬠â«×©×⬠â«×ך×ך××ת⬠â«×¢×ª×××תâ¬,â«××××⬠â«××¡×§× ×ת⬠â«× ××× ×ת⬠â«×¢×⬠â«×עךעך⬠â«×¡×××⬠â«×ש×ת׀×ת⬠â«×××â¬.
â«×× â¬ â«××עך××תâ¬"â«×⬠â«×¢×©×××ת⬠â«×â¬â«×⬠â«× ×סף⬠â«×××ע⬠â«×©×׊××ך⬠â«×××⬠â«×תע×××â¬/â«××ך×××⬠â«×©×⬠â«××××××⬠â«×ת×׊××⬠â«××â¬
â«×××¢×⬠â«×××⬠â«× ×€×⬠â«×©×⬠â«××׀ק×⬠â«×××€×ש××⬠â«×©×⬠â«×׀ך××ק×××⬠â«×קש×ך××â¬,â«× ×ת××⬠â«×××ש×⬠â«×ת×׊××⬠â«×ך××תâ¬
â«×ק××××××⬠â«××׊××â¬.
ï·â«××⬠â«×××⬠â«××××¢×â¬,â«×××ך⬠â«×€×ת××⬠â«×©×⬠â«×××××ת⬠â«××¢××ת⬠â«×××××â¬"â«×ª×ךâ¬",â«× ×××⬠â«×××⬠â«×¢×⬠â«× עך×⬠â«×שךâ¬,
â«×©×⬠â«×ס×⬠â«×סת××â¬â«×â¬-3â«×××ך⬠â«×××××ך×â¬)â«×¢××ךâ¬100%â«×××××××תâ¬.(â«××ת×××⬠â«×€×ת××⬠â«×¢×⬠â«××ת×סס⬠â«×××תâ¬
â«××€××⬠â«×Š×× ×ך⬠â«×©×â¬,â«×׀ק×⬠â«××€×××€×ך×ת⬠â«×××××ך⬠â«××××¢×⬠â«×××⬠â«×××ך×⬠â«××â¬,â«××€×××€×ך××⬠â«×ס×××⬠â«×©×ª×ק×â¬
â«×€×š××ק×⬠â«×©×⬠â«×ק×××תâ¬"â«×ª××ס⬠â«××â¬"â«×©×⬠â«×ק×××⬠â«×ק×××⬠â«××תק×⬠â«×ק×××ת⬠â«××Š× ×š×ªâ¬ â«×××⬠â«×××ך×⬠â«×××× ×â¬
â«××ש×××⬠â«×ª××ס⬠â«××⬠â«×€×š××ק×â¬,â«×××⬠â«×§×××ת⬠â«×׊×ך×⬠â«×©××ך××â¬.â«×â¬â«××⬠â«×××××⬠â«×ª××â¬,â«××⬠â«×××⬠â«×¢×⬠â«××שך×â¬
â«××⬠â«×××⬠â«××ש×ך⬠â«××××¢×⬠â«×¢×⬠â«×׀ך××ק×⬠â«×ש×ת׀××â¬,â«×⬠â«×©×⬠â«×ס×⬠â«×ש×ך×ת××⬠â«×Š×××⬠â«×ך××שת⬠â«×תקשך×××תâ¬-
967â«×××ך⬠â«××××××â¬)â«×¢××ךâ¬100%â«×××××××תâ¬.(â«×â¬â«××××ך⬠â«×š××⬠â«× ×ס׀××⬠â«×€×š×××â¬4)â«×â¬(â«××ס׀×××⬠â«×××××תâ¬.
ï·â«××××שâ¬â«××××ס×â¬2010â«××⬠â«×××⬠â«××⬠â«×× ×××⬠â«×× ×€×⬠â«×¢× ××× ×⬠â«×¢×⬠â«××××× ×⬠â«×××××¢â¬â«××€×ת××⬠â«×קשת×⬠â«×ת⬠â«×©×šâ¬
â«×××ךâ¬"â«×ª×ךâ¬"â«×¢â¬ â«×©××׊×⬠â«××ת×××⬠â«××ת××â¬"â«× ×××⬠â«×â¬,â«×©×€×ך×⬠â«××€×â¬â«××¢××â¬,â«××ך×ת⬠â«×ª×××ת⬠â«×׊×ך×⬠â«××××â¬
â«××××ך⬠â«×××¢×⬠â«××â¬"â«×ª×ךâ¬"â«×××ק×⬠â«××ª× ××⬠â«××ת××â¬.â«×ª×× ×ת⬠â«×ª×Š××⬠â«× ×××⬠â«××⬠â«××××× ×⬠â«××קש⬠â«×¢××â¬
â«××××ך⬠â«××€×ת××â¬,â«×××קת⬠â«×ש×ת׀××⬠â«×××⬠â«××ס×ך××⬠â«×ך××תâ¬"â«×ª×ךâ¬"â«××××××ת⬠â«××¢××⬠â«××××â¬
â«×××⬠â«×ך×××× ××××â¬â«×§×ªâ¬"â«×שק×××â¬) "â«×ª××ס⬠â«××⬠â«×€×š××ק×⬠â«×©×⬠â«×××⬠â«×××ך⬠â«×׊××⬠â«××â¬(â«××××ª×§× ×⬠â«××Š× ×š×ªâ¬
â«×©×××ף⬠â«×××××€××⬠â«×ק×××â¬,â«××ס××⬠â«××¢× ×××⬠â«××ס×ך××⬠â«×ך××תâ¬.
ï·â«××××שâ¬â«×¡×€×××ךâ¬2010â«×××¢××⬠â«××¢×ת×× ×ת⬠â«×××××¢×⬠â«× ×××⬠â«×סך×â¬,â«×ת⬠â«××שך⬠â«× ×××⬠â«××ךק××ך×××⬠â«××â¬
â«×ª×ך⬠â«×××ך⬠â«×©×⬠â«××€×ת××⬠â«×ª×× ×תâ¬,â«××¢×קך×⬠â«×××××⬠â«××ת×××â¬,5â«××⬠â«××ת⬠â«×©××⬠â«××ך×תâ¬â«×××€×ק⬠â«×ª×××⬠â«×â¬
â«×â¬-200-250â«×ק××ך⬠â«×Š×× ×ך×ת⬠â«×©× ×⬠â«×××׊ע×ת⬠â«×©×××ך×⬠â«××××⬠â«×××¢×⬠â«××⬠â«×©×⬠â«××¢×ק×⬠â«×š××⬠â«××××××â¬"16
â«×ש×××⬠â«×××€×⬠â«×××⬠â«×©×ª×ק×⬠â«××ש×⬠â«×׀ק×⬠â«××€×××€×ך×תâ¬,â«×××ך⬠â«×©×⬠â«×ק×××ת⬠â«××€×××€×ך××⬠â«×׊×××â¬
"â«×ך×â¬-B."â«××Š× ×š×ªâ¬ â«××××¢×⬠â«×××⬠â«×××ך×⬠â«××⬠â«××€×××€×ך××â¬"30â«×€×š×××ק×⬠â«×©×⬠â«×ק×××⬠â«××תק×⬠â«×ק×××תâ¬
"â«×ª××ס⬠â«××â¬"â«××ש×××â¬,â«×⬠â«×¢×⬠â«×©×⬠â«×ת××ת×ת⬠â«×¢××××⬠â«×ק××××תâ¬-1â«××××⬠â«××¢×ק×⬠â«×š××⬠â«×××××ך×â¬.â«×ª×× ×תâ¬
â«×ך×⬠â«××××ך⬠â«×ª×ך⬠â«××××ך⬠â«×××¢×⬠â«××⬠â«××ס××⬠â«××⬠â«×ª×׀שך⬠â«××××ך×⬠â«××€×ת××â¬-Bâ«×ת×׀שךâ¬,â«×××⬠â«×× ×סףâ¬,
â«×××⬠â«×ס׀קת⬠â«×××שך⬠â«×ש××¢×ת×ת⬠â«×ך×××â¬,â«××שק⬠â«×׊ך××⬠â«×××ת××⬠â«×׊×ך×⬠â«××××תâ¬.â«××ת××â¬
â«××××ך×⬠â«×××××¢×â¬,â«×××××ת⬠â«××€×ת××⬠â«×¢××תâ¬)100%(â«×⬠â«×©×⬠â«×ס×××⬠â«××עך×תâ¬-3â«×××ך⬠â«×××××ך×â¬.
â«××©× ×ªâ¬ â«××ת×××⬠â«×ת××× × ××⬠â«××€×ת××⬠â«×§×××××â¬2011â«××ת×××⬠â«×Š×€×××⬠â«×׀ך××ק×⬠â«×עך××ת⬠â«××ך׊תâ¬
â«×©×⬠â«×ך×××¢×⬠â«×ך××¢××â¬2012.
â«××××⬠â«×ש×ת׀×תâ¬â«×¢â¬ â«×××××⬠â«×ך×⬠â«××××ך×⬠â«××€×ת××⬠â«×ª×× ×ת⬠â«××⬠â«×¢×â¬"â«×ש×ת׀××⬠â«×תך⬠â«×××ש×ך⬠â«× ×××⬠â«×â¬
â«×××⬠â«×¢×⬠â«××שך×⬠â«×ך×⬠â«××⬠â«×××ת××⬠â«×׀ך××ק×â¬.â«××⬠â«×××â¬,â«××עך×תâ¬â«×ש×ת׀×תâ¬,â«×××ע⬠â«×¢×⬠â«××ת×ססâ¬
â«×× ×××⬠â«×©×§××××â¬,â«×©×⬠â«×ך×ש×× ×⬠â«×××׊×ת⬠â«××ת×××⬠â«×Š×€×××⬠â«×ª×ך⬠â«×€×š××ק×⬠â«×©×⬠â«××ס×ך×ת⬠â«×××€×¢××â¬
2013.
â«×¢×ª××⬠â«×€× ×⬠â«×Š××€×⬠â«×××ע⬠â«××××⬠â«×××ך×â¬-â«××עך××תâ¬â«××××ך×תâ¬â«××¢× ×××⬠â«×ך××ת⬠â«××€×ת××⬠â«×ª×× ×ת⬠â«×××ךâ¬
â«××¢××××ת⬠â«××××××⬠â«×××× ××⬠â«××××תâ¬,â«×××סס×תâ¬â«×¢×â¬â«×× ×××⬠â«×©×תק××⬠â«××××¢â¬,â«×ת×××â¬â«××⬠â«××תך⬠â«×××â¬
â«××××⬠â«×× ×ךש××⬠â«×××ש×ך××⬠â«××⬠â«×ק××תâ¬,â«×תק×××⬠â«×ך×⬠â«××⬠â«××××¢×⬠â«×שךâ¬.â«×ש××â¬â«××â¬â«××××ךâ¬
â«××עך××תâ¬â«××שעך×תâ¬â«××ת×â¬â«××××××תâ¬,â«××שךâ¬â«××××××â¬â«×¢××××â¬â«×××â¬â«×××××ת⬠â«××â¬â«××â¬â«×ª×ª×××©× ×â¬,â«××××â¬â«××â¬
- 5. 5
â«××ק×â¬,â«×××â¬â«×××ךâ¬â«××××¢â¬â«×Š××€×â¬â«×€× ×â¬â«×¢×ª××â¬.â«××עך××תâ¬â«×× â¬"â«×Š×€×××ת⬠â«×â¬â«×××⬠â«××תע×××â¬â«×©×׊××ךâ¬â«××××¢â¬
â«× ×סףâ¬â«×â¬/â«××â¬â«×â¬â«×ª×׊××â¬â«××××××â¬â«×©×â¬â«××ך×××â¬â«×קש×ך××â¬â«××€×ת××⬠â«×ת×× ×תâ¬.
ï·â«×× ×סףâ¬â«×â¬â«×ש×ת׀××⬠â«×©×ת××⬠â«×××× ×ת⬠â«××ת××â¬â«×××קתâ¬"â«×ª×ךâ¬"â«×× ×š×××ת⬠â«××××⬠â«××¢×⬠â«×ש××⬠â«××ךת⬠â«×¢×â¬
â«×¢â¬ â«××â¬"â«××©× ×ªâ¬ â«×â¬2009â«×××קת⬠â«×ש×ת׀××⬠â«×ת××â¬"â«×ª×ךâ¬"â«××××קתâ¬"â«×××תâ¬"â«××××â¬19.2.2010â«×¢×â¬
â«×ע⬠â«×ך××⬠â«××⬠â«×ª×× ×ªâ¬ â«×¢×⬠â«×××¢×⬠â«××⬠â«××ס׀קת⬠â«×××× ×ת⬠â«××ת×â¬"â«×ªâ¬ â«×××⬠â«×ס⬠â«×××⬠â«×â¬â«××××× ×⬠â«×¡×××ק×⬠â«×¢×©××תâ¬
â«××¢â¬"â«×â¬.â«×××ך⬠â«×š××⬠â«× ×ס׀××⬠â«×׀ך×××â¬4)â«×â¬(â«××ס׀×××⬠â«×××××תâ¬.
ï·â«×××ךâ¬â«××××××⬠â«×××¢×â¬,â«××××â¬21â«×××ק×××ךâ¬2010,â«××××××â¬â«×ש×ת׀×תâ¬â«×׀ך××ק×⬠â«×ש×ת׀××⬠â«×××⬠â«××â¬
â«×׀ך××ק×⬠â«×©×ת׀××⬠â«×©××× ×⬠â«×ª×ךâ¬"â«×ª××ס⬠â«××â¬) "â«××××× ×â¬â«×ש×ת׀×תâ¬â«××⬠â«×××ךâ¬(,â«××⬠â«××ª× ××â¬"â«×¢×⬠â«×קשך⬠â«×â¬
â«×××תק×⬠â«××Š× ×š×ªâ¬ â«×ש×××ש⬠â«×ס×ך××â¬â«×©××ש×××⬠â«×ק×××â¬,â«×××ס××⬠â«××¢× ×××⬠â«××ס×ך××⬠â«×ך××תâ¬,â«×××תâ¬
â«×ª×ך⬠â«×××ך⬠â«×©×⬠â«××€×ת××⬠â«×ª×× ×ת⬠â«××ש×ך⬠â«×׊×ך×â¬,â«××××× ×⬠â«×××⬠â«×¢×⬠â«×©×ת×קש⬠â«××€×â¬,â«××¢××⬠â«××××ךâ¬.
1.2â«×××××â¬â«×€×ת××â¬"â«×ª×ך⬠â«×××ךâ¬"
â«×עקך×× ×ת⬠â«××ס××⬠â«××ת××â¬)Term Sheet(â«×× ×§â¬ â«××××ש×⬠â«×¢×⬠â«×ש×ת׀×ת⬠â«×©×ת××â¬)â«××××â¬:
"â«××× ×§â¬(",â«×××××⬠â«×××¢××תâ¬â«×ש×⬠â«××ש×ך⬠â«×ªâ¬â«×××ך⬠â«××€×ת××⬠â«×שקעת×⬠â«×׊×ך×⬠â«×ª×€×תâ¬"â«×ª×ךâ¬",â«×××ש×â¬
â«×××⬠â«×תק×׀ת⬠â«×ש×ת׀×תâ¬"â«××⬠â«××××⬠â«××××××⬠â«×ס××⬠â«×¢×קך×⬠â«×ת⬠â«×â¬â«×ס×⬠â«×××ש×ך⬠â«×××תâ¬350â«××××××â¬
â«×××ךâ¬.â«××⬠â«××ª× ××⬠â«××⬠â«×××â¬"â«××××××⬠â«××¢××ת⬠â«×¢×⬠â«×קשך⬠â«×©×× ××⬠â«××ס××××⬠â«×××€××⬠â«××××⬠â«××× ×§â¬ â«×××⬠â«×â¬
â«×©×⬠â«×ס×××⬠â«×ך××⬠â«××××⬠â«× ×ס׀תâ¬400â«×××ך⬠â«××××××â¬.
â«×©× ⬠â«××××¢×××ת⬠â«×ª×§×׀תâ¬â«××××⬠â«×¢×⬠â«××× ×⬠â«×××××××⬠â«×××××⬠â«×ס×××⬠â«××××ש⬠â«×׊×ך×⬠â«××× ×§â¬ â«××ª× ×â¬31
â«××׊××ךâ¬2010.â«× ×ס׀××⬠â«×׀ך×××â¬â«××××ך⬠â«×š××â¬4)â«×â¬(â«×××××תâ¬â«××ס׀×××â¬.
1.3â«××¢×תâ¬â«×©×©×× ×¡×§×â¬
â«××××â¬13.4.2010â«×ש×××⬠â«×× ×ש×⬠â«××€×ס×ק×××ת⬠â«××××× ××ת⬠â«××××× ×ªâ¬ â«××¢××⬠â«×××׊ך⬠â«×©×šâ¬ â«×××⬠â«×¢×⬠â«××× ×ª×â¬
â«××שך××⬠â«×××⬠â«× ×€×â¬,â«×©×©×× â¬ â«××ת×⬠â«×€×š×׀ס×ך⬠â«×ך×ש×תâ¬â«×¡×§×â¬")â«××¢×תâ¬â«×©×©×× ×¡×§×â¬.("â«××××⬠â«××××¢××⬠â«×¢×â¬
â«×××ך××⬠â«×ך××¢××⬠â«×××××⬠â«×××׊ך⬠â«×שך⬠â«×××׊×ת××⬠â«×××××ש⬠â«××××ך⬠â«×××× ××ת⬠â«×ש×× ××⬠â«×××׊×ת⬠â«×××שâ¬
â«×©× ת⬠â«×©×â¬2010.â«××××â¬10â«×× ××××ךâ¬2010â«×©×©×× ×¡â¬ â«×€×š×׀ס×ך⬠â«×׊××â¬â«×××׊×ת⬠â«××××ת⬠â«×¢×קך×⬠â«×ת⬠â«×§×â¬
â«××××¢××â¬,â«×€×××⬠â«×¢×â¬,â«××תך⬠â«×××â¬,â«×××⬠â«××××××⬠â«××××××⬠â«× ××××⬠â«×ת⬠â«××××⬠â«××׊עâ¬â«×ש××¢×ך⬠â«×××⬠â«× ×€×⬠â«×š××××⬠â«×â¬
â«×©×××⬠â«×€×š××ךס×××â¬20%â«×â¬-60%â«×ת×ס׀ת⬠â«××שקע×⬠â«×××ך⬠â«×××ך⬠â«××××⬠â«×שךâ¬50%.â«×××⬠â«××⬠â«×Š×××⬠â«×¢××â¬
â«××€×ת××⬠â«×€×š××ק×××⬠â«×©×⬠â«××××××⬠â«×××××ת⬠â«×€××עת⬠â«×××׊עת⬠â«×©××עך×ת⬠â«×××¢××⬠â«×©×ª×××××â¬,â«×ª×××â¬
â«× ×ךש××⬠â«×€×ª×š×× ×ת⬠â«×××¢××â¬.â«××€×ך××â¬â«× ×סףâ¬â«××××׊×ת⬠â«××××ת⬠â«×¢×קך×⬠â«×××ךâ¬â«××××⬠â«×××××⬠â«×××⬠â«×š××â¬11
â«×× ××××ךâ¬2010)â«×ס××ת×â¬2010-01-676386(â«×ך×⬠â«×¢×⬠â«×××ת⬠â«××××××⬠â«××⬠â«×× ×××××⬠â«×׀ך×××⬠â«×שךâ¬
â«××€× ××⬠â«×©×â¬.
â«××ש××⬠â«×©×× ××⬠â«××××ת⬠â«××ª× ××ת⬠â«×ש×ת׀×תâ¬)â«×××ס××â¬/â«×ת××××××â¬(â«× ×€×⬠â«××××××ת⬠â«×××סâ¬)â«×š×ש××× ×תâ¬
â«×××ק×תâ¬(â«×× ×€×⬠â«×××ק⬠â«××ת××⬠â«×ש×ת׀×ת⬠â«× ××ª× ×⬠â«×©××ךâ¬,â«××××¢××⬠â«××€× ×⬠â«××׊××⬠â«×× ×¢×š×תâ¬â«×תâ¬â«×¢××â¬â«×ª×â¬
â«×× ×ש×â¬.
â«×⬠â«××â¬â«×××â¬â«××¢××⬠â«××××ך⬠â«×©××׊××⬠â«××€×⬠â«×××¢××⬠â«×××׊×ת⬠â«×©×תק×××â¬â«×××׊ך⬠â«×©×©×š×⬠â«××××⬠â«×××â¬
â«×××⬠â«×××׊×ת⬠â«×××׊×⬠â«×××××××ת⬠â«××תשת××תâ¬,â«×ת××ש⬠â«×©×××ך⬠â«××××⬠â«××â¬â«×©××¢×××⬠â«×××××⬠â«××ק⬠â«××××â¬
â«××⬠â«×××ק×ךתâ¬"â«×ךע×⬠â«×××ת×ת⬠â«×ש׀ע×⬠â«×××⬠â«××××ת⬠â«×¢××××⬠â«×¥â¬â«× ×€×⬠â«××××ך×⬠â«×עת×××××⬠â«×ך×××××⬠â«×¢×â¬
â«××¢×⬠â«×××â¬â«×©×⬠â«×€×¢×××ת×â¬â«×ש×ת׀×תâ¬.
1.4â«×š×ש×××â¬"â«×©×ש××â¬"-â«××××ך⬠â«×š××⬠â«××€×ך××â¬4)â«×â¬(â«××××â¬â«××ס׀×××⬠â«×תâ¬.
1.5â«××תךâ¬"â«×× ×××â¬"-â«××××ך⬠â«×š××⬠â«××€×ך××â¬4)â«×â¬(â«×××â¬â«××ס׀×××⬠â«×תâ¬.
- 6. 6
1.6â«×šâ¬ â«×ש×ת׀×ת⬠â«×©×⬠â«×× ×€×⬠â«× ×ס×⬠â«×××ך⬠â«× ×סף⬠â«××€×ך××â¬'â«××××⬠â«×××××⬠â«×××â¬13â«×××ק×××ךâ¬2010)â«×ס××ת×â¬
2010-01-646563(â«××€× â¬ â«×©×⬠â«×ך×⬠â«×¢×⬠â«×××ת⬠â«××××××⬠â«××⬠â«×× ×××××⬠â«×׀ך×××⬠â«×שךâ¬â«××â¬.
2.â«××€×¢×××ת⬠â«×ª×׊××תâ¬:
2.1â«×ס׀×⬠â«×׊×â¬
â«× ×ס×â¬â«×ש×ת׀×תâ¬â«××××â¬30â«×ס׀×××ךâ¬2010â«×⬠â«×סת××××â¬-1,111,422â«×××€×â¬â«×©â¬"â«×â¬,â«××¢××תâ¬753,477
â«×©â¬ â«×××€×â¬"â«××××⬠â«×â¬31â«××׊××ךâ¬2009.â«×ש×ת׀×ת⬠â«× ×ס×â¬â«××¢×קך⬠â«××××××â¬â«×שקעâ¬â«×תâ¬â«×××⬠â«× ×€×⬠â«×× ×ס×â¬,
â«××××× ××â¬,â«××××× ××⬠â«×©×××â¬â«×â¬â«×¢×š×⬠â«× ××ך×תâ¬.
â«×ך××⬠â«××××â¬â«×עך×⬠â«× ××ך×תâ¬â«×ש×ת׀×ת⬠â«×©×â¬:
31â«××׊××ךâ¬2009
â«×××€×â¬âª
30â«×ס׀×××ךâ¬2010
â«×××€×â¬âª
83,857 66,248 â«×××׀׊××ת⬠â«×× ××תâ¬
14,267 6,297 â«×××ך×⬠â«×××⬠â«××ך×תâ¬
154,618 64,654 â«×§×× ×Š×š× ××ת⬠â«×××⬠â«××ך×תâ¬
17,708 10,217 â«× ××× ×ת⬠â«×§×š× ×תâ¬
81,137 90,515 â«×שתת׀×ת⬠â«×××××תâ¬
351,587 237,931
â«×⬠â«×ת×ך××â¬â«×××â¬â«××××ק×â¬â«×ש×ת׀×תâ¬â«××××⬠â«×××€×ך×⬠â«×§×©×ך××⬠â«×Š××××⬠â«×©×⬠â«×¢×š×⬠â«×× ××ך×תâ¬:
â«×â¬.4.43%â«××× â¬ â«××שתת׀×ת⬠â«×××××ת⬠â«×ס×â¬"â«××⬠â«×â¬-â«×××××ת⬠â«×©×ת׀×ת⬠â«××××â¬)â«××××⬠â«×ת×ך××⬠â«×ש×ק⬠â«×©×××â¬
â«×⬠â«××× ×â¬-29,515â«×©â¬ â«×××€×â¬"â«×â¬.(
â«×â¬.13.52%â«×××××ת⬠â«×©×ת׀×ת⬠â«×××€×ש××⬠â«×× ×€××⬠â«××שתת׀×ת⬠â«×××××ת⬠â«×ס×â¬)â«×ת×ך××⬠â«×ש×ק⬠â«×©×××â¬â«××××â¬
â«××× ×â¬â«×â¬-61,000â«×©â¬ â«×××€×â¬"â«×â¬.(
â«×â¬.0.68%â«×⬠â«×©×⬠â«××× ××ת⬠â«××××â¬.â«××â¬.â«×ע⬠â«×קס׀××ך××ש××⬠â«××××⬠â«×ך×ש×××⬠â«×â¬"â«×â¬)â«××××⬠â«×ת×ך××⬠â«×©×ק⬠â«×©×××â¬
â«×⬠â«××× ×â¬-7,195â«×©â¬ â«×××€×â¬"â«×â¬.(
â«×â¬.5.01%â«××× ×§â¬ â«×שך××ק×⬠â«×©×⬠â«××× ××ת⬠â«××××â¬) .â«×⬠â«××× ×⬠â«××××⬠â«×ת×ך××⬠â«×©×ק⬠â«×©×××â¬-30,028â«×©â¬ â«×××€×â¬"â«×â¬.(
â«×××⬠â«× ×€×⬠â«×× ×ס×⬠â«×שקע×⬠â«×סע××£â¬,â«××׊×â¬â«×ש×ת׀×ת⬠â«×©×⬠â«××ק×â¬â«××¢××××תâ¬â«×â¬â«×§××××â¬â«××â¬"â«×ª×ךâ¬1","â«×ª×ךâ¬
2"â«×â¬"â«×××תâ¬1"â«××××â¬â«×××⬠â«×©××⬠â«××€×ת××⬠â«×©××׊××⬠â«×¡×××××â¬"â«×ª×ךâ¬"â«×©×⬠â«×ס×â¬764,502â«×©â¬ â«×××€×â¬"â«×â¬,
â«×ש×ת׀×ת⬠â«×©×⬠â«×××ק×â¬â«×§××××⬠â«××¢××××תâ¬"â«××ךâ¬1"â«×©×⬠â«×ס×⬠â«××⬠â«×ת×××⬠â«××â¬7,609â«×©â¬ â«×××€×â¬"â«×â¬.
2.2â«×ª×׊××תâ¬â«×עסק×ת⬠â«××€×¢×××תâ¬
â«×š××××â¬â«×ש×ת׀×תâ¬â«×â¬â«×ª×§×׀תâ¬â«××××â¬â«×סת×××â¬â«×â¬-6,235â«×©â¬ â«×××€×â¬"â«×â¬,â«××¢××תâ¬â«×š×××â¬â«×ס×â¬172,860â«×××€×â¬
â«×©â¬"â«×â¬â«×שתק×⬠â«××ק××××⬠â«×תק××€×â¬.
â«××× ×¡×תâ¬â«× ××⬠â«××××××â¬,â«×â¬â«××××⬠â«×ª×§×׀תâ¬,â«×סת×××â¬â«×â¬-24,601â«×©â¬ â«×××€×â¬"â«×â¬,â«××¢××תâ¬â«××× ×¡×תâ¬â«×××××â¬
â«× ××â¬,â«×ס×â¬178,559â«×©â¬ â«×××€×â¬"â«×â¬â«×שתק×⬠â«××ק××××⬠â«×תק××€×â¬.
â«××× ×¡×תâ¬â«××××××â¬â«× ××â¬,â«×â¬â«××××⬠â«×ª×§×׀תâ¬â«××¢×קך⬠â«× ××¢×â¬â«×ת×׊××â¬â«×â¬â«×¢××â¬â«×â¬â«×â¬â«×עך×⬠â«× ××ך×ת⬠â«×ש×××â¬â«××ס×ךâ¬,
â«×ת×ס׀תâ¬â«×š××××תâ¬â«×××× ×⬠â«×©× תק×××⬠â«××××××× ×××â¬â«×ס×â¬â«××××â¬â«×©×â¬29,002â«×©â¬ â«×××€×â¬"â«×â¬.
- 7. 7
â«×©×⬠â«×××××⬠â«×ך×××â¬â«×⬠â«×€×× × ×¡×××⬠â«×× ×ס××⬠â«××שקעת×⬠â«×ש×ת׀×תâ¬â«×¡×ª××â¬â«××â¬-38,245â«×××€×â¬
â«×©â¬"â«×â¬,â«××שâ¬â«×§×£â¬â«×ש××¢×ך⬠â«××××⬠â«×תק×׀ת⬠â«×ª×©×××â¬â«×⬠â«×©×â¬-9%.
â«××׊××תâ¬â«×â¬â«×שתת׀×תâ¬â«×××€×ש×⬠â«×××׊××¢â¬â«×⬠â«×××⬠â«× ×€×â¬â«××××⬠â«×ª×§×׀תâ¬â«×⬠â«×סת×××â¬-9,426â«×©â¬ â«×××€×â¬"â«×â¬
â«××¢××â¬â«×ªâ¬2,082â«×©â¬ â«×××€×â¬"â«×â¬â«×שתק×⬠â«××ק××××⬠â«×תק××€×â¬.â«×××׊×ע⬠â«××שתת׀×ת⬠â«××׊××ת⬠â«×¢×קךâ¬
â«×××⬠â«× ×€×⬠â«×××€×ש×â¬â«×תק××€×â¬â«××× â¬â«×â¬â«×©××׊ע×⬠â«××××××€×ס××ת⬠â«×××××××××ת⬠â«×¢××××ת⬠â«××××â¬â«×× ×××⬠â«×××תךâ¬.
â«××׊××תâ¬â«×â¬â«×× ×××â¬â«××××××תâ¬â«×סת×××â¬â«×â¬â«××××⬠â«×ª×§×׀תâ¬â«×â¬-8,940â«×××€×â¬â«×©â¬"â«×â¬,â«××¢××תâ¬3,617â«×××€×â¬
â«×©â¬"â«×â¬â«×שתק×⬠â«××ק××××⬠â«×תק××€×â¬.â«××׊×â¬â«××××⬠â«×× ×××⬠â«×תâ¬â«××תâ¬â«×â¬â«××××⬠â«×ª×§×׀תâ¬â«××××××â¬,â«××¢×קךâ¬,â«×××â¬
â«×ס×⬠â«×××××⬠â«×ש×תף⬠â«× ××××â¬1,431â«×××€×â¬â«×©â¬"â«×â¬â«×××׊××ת⬠â«×ש×ת׀×ת⬠â«×©×⬠â«××ק×⬠â«××תâ¬â«×©×⬠â«×× ×××â¬â«× ×××â¬
â«×× ×š×â¬'â«××××š× ×××⬠â«×â¬,â«××××ת⬠â«×ª×ך⬠â«××ק×ת⬠â«××€×¢××תâ¬,â«×××××ס×תâ¬â«×â¬â«×⬠â«×€×¢×××תâ¬â«×¢×¡×§â¬â«××תâ¬â«××ש×ת׀â¬â«×â¬â«×ªâ¬â«×ª×ךâ¬
â«××××תâ¬,â«×©×⬠â«×ס×××â¬6,434â«×©â¬ â«×××€×â¬"â«×â¬.
2.3â«×××â¬â«×ש×ת׀×תâ¬
â«××××⬠â«×ש×ת׀×ת⬠â«××â¬30â«×ס׀×××ךâ¬2010â«×⬠â«×סת××â¬-885,630â«×©â¬ â«×××€×â¬"â«×â¬,â«××××⬠â«××××⬠â«××¢××תâ¬31
â«××׊×â¬â«×ךâ¬2009â«×©×⬠â«×ס×â¬718,959â«×©â¬ â«×××€×â¬"â«×â¬.â«××××⬠â«×תק×׀ת⬠â«××××⬠â«××××××â¬,â«×©×⬠â«×ס×â¬166,671â«×××€×â¬
â«×©â¬"â«×â¬,â«××⬠â«× ××¢â¬â«×ש×ת׀××⬠â«×©×§×¢×ªâ¬â«×ס×â¬165,941â«×××€×â¬â«×©â¬"â«×â¬,â«×©×⬠â«××שתת׀×ת⬠â«×××××ת⬠â«×ש×××⬠â«××××××â¬
â«×××××××ת⬠â«×ש×ת׀×××תâ¬â«××× â¬ â«×××€×ש××⬠â«× ×€××â¬"â«×ס×⬠â«××××⬠â«××⬠â«×â¬9,378â«×××€×â¬â«×©â¬"â«×â¬â«×ס×⬠â«××ך×××â¬
6,235â«×©â¬ â«×××€×â¬"â«×תק××€×⬠â«×â¬.â«×× ××â¬,â«×ס×⬠â«×§××××⬠â«××â¬14,883â«×©â¬ â«×××€×â¬"â«×× ××ע⬠â«×ª×š×××⬠â«××׀ךש×⬠â«×קך×⬠â«×â¬
â«×â¬â«×©×¢â¬ â«×ך××תâ¬"â«×שק×⬠â«××¢××ת⬠â«××××ך⬠â«×©×⬠â«×â¬.
2.4â«× ××××תâ¬â«×××××⬠â«××ק×ך×תâ¬
â«××××â¬30â«×ס׀×××ךâ¬2010â«×¢×××××â¬â«××⬠â«× ×××××⬠â«××׊ע××⬠â«×ש×ת׀×ת⬠â«×ךש×תâ¬â«×××× ××â¬â«××××× ××⬠â«×ש×××â¬
â«×¢×š×⬠â«×× ××ך×תâ¬â«×ס×â¬338,258â«×©â¬ â«×××€×â¬"â«×â¬.
â«×â¬â«×ª×§×׀תâ¬â«××××â¬â«×â¬â«×â¬â«×××××â¬â«×©×⬠â«×ס×⬠â«×ש×ת׀×ת⬠â«×©×⬠â«×××××× ××⬠â«×ש×××⬠â«×××××× ××⬠â«××תך×תâ¬75,515
â«×â¬â«×©â¬ â«××€×â¬"â«×â¬,â«××¢××תâ¬â«×§××××â¬â«×⬠â«××××× ××⬠â«×ש×××⬠â«×××××× ××â¬â«×©×⬠â«×¡×â¬12,306â«×©â¬ â«×××€×â¬"â«×â¬â«×תק××€×â¬
â«×שתק×⬠â«××ק×××â¬.
â«××××× ××⬠â«×ש×ת׀×ת⬠â«× ××¢×⬠â«××××⬠â«×תק×׀תâ¬â«×⬠â«×©×⬠â«×ס×â¬-165,941â«×××€×â¬â«×©â¬"â«×â¬â«××â¬-153,887â«×©â¬ â«×××€×â¬"â«×â¬
â«×ת×׊××â¬â«×××××ת⬠â«×©×⬠â«××ך×⬠â«×××⬠â«××× ×€×§×ªâ¬â«×â¬â«×â¬â«× ××⬠â«××××שâ¬â«×š××××ת⬠â«×ת×ס׀ת⬠â«×¢×š×⬠â«× ××ך×ת⬠â«×©×â¬
â«×××× ×⬠â«×©× תק×××⬠â«××××××× ×××â¬,â«××ת×××â¬.â«×â¬â«×⬠â«×שת×ש×⬠â«×©×ת׀×תâ¬â«××××× ××â¬â«××××ך××â¬â«×â¬â«×שקע×â¬
â«×â¬â«×€×ת××â¬â«×€×š××ק×â¬"â«×ª×ךâ¬) "â«×ק×××ת⬠â«××××â¬â«× ×××ת⬠â«×××׊××תâ¬(â«×©×⬠â«×ס×â¬221,366â«×©â¬ â«×××€×â¬"â«×â¬â«×××€×¢×××תâ¬
â«×©×⬠â«×ס×⬠â«×©××׀תâ¬22,947â«×©â¬ â«×××€×â¬"â«×â¬,â«×××⬠â«× ×€×⬠â«×××€×ש×⬠â«××××⬠â«××׊××ת⬠â«××¢×קך⬠â«××××ת⬠â«×שךâ¬)â«××¢×קךâ¬
â«××××â¬"â«×× ×××⬠â«××תךâ¬("â«××××××ת⬠â«×× ×××⬠â«×××׊××תâ¬.â«×ק×ךâ¬â«××××××â¬â«×©×â¬â«×ש×ת׀×תâ¬â«××× â¬â«×â¬â«×ש×ת׀×ת⬠â«×××â¬
â«××××â¬,â«××××⬠â«××סת××â¬30â«×ס׀×××ךâ¬2010â«×©×⬠â«×ס×â¬885,630â«×©â¬ â«×××€×â¬"â«×â¬.
â«× ×⬠â«××× ×⬠â«×ש×ת׀×תâ¬â«×× ×§××⬠â«×שך××⬠â«××תâ¬â«××××€×ש××⬠â«×€×¢×××ת⬠â«××××××â¬)â«×קס׀××ך׊××â¬(â«×ך×â¬,â«×׊×ך×â¬
â«×€×ת××⬠â«×€×¢×××תâ¬â«×©××â¬â«××××¢×⬠â«×××â¬"â«×ª×ךâ¬",â«×⬠â«×× ×§××⬠â«××××××⬠â«×ש×ת׀×ת⬠â«×ª××קקâ¬/â«×× ×§××⬠â«××ץ⬠â«××â¬.
â«××××⬠â«×תק×׀תâ¬â«××ש××â¬â«×××××⬠â«×ש×תףâ¬â«×⬠â«××€×¢×××ת×â¬â«×©××⬠â«××€×ת××⬠â«×××××⬠â«×ש×תâ¬"â«×ª×ךâ¬"â«×â¬â«××××â¬22
â«××€×ך××ךâ¬2010,â«× ×ת×â¬â«×¢×§×š×× ×ת⬠â«×ס××â¬)â«×⬠â«××ת×â¬â«××××â¬(â«×ך⬠â«×× ×§××⬠â«×ª××××⬠â«××××⬠â«×ש×ת׀×ת⬠â«×××â¬,
â«×× ×§â¬ â«××××ש×â¬.â«×׀ך×××â¬â«× ×ס׀××â¬â«×š××â¬â«×××ךâ¬4â«×â¬'â«×××××תâ¬â«××ס׀×××â¬.
â«××⬠â«×׊×××â¬â«×¢â¬â«××× ×¡×⬠â«×ס⬠â«× ׊×××ת⬠â«××ש×ך⬠â«×€×⬠â«×â¬,â«××××××ת⬠â«×ק×ת⬠â«×©××⬠â«×ת×××××ת⬠â«×ש×ת׀×ת⬠â«×¢×⬠â«×××â¬
â«×¢×⬠â«××¢×××⬠â«×ס×××â¬3%â«×ש×ת׀×ת⬠â«××שק××¢××⬠â«×××⬠â«×¢×⬠â«×©××××ס⬠â«××ס×××⬠â«××¢×××⬠â«×ס×××â¬,â«×××â¬
â«×ת××××â¬â«××× ×¡×⬠â«×ס⬠â«× ׊×××ת⬠â«×©×⬠â«×ך×ש⬠â«××××ש×ךâ¬.â«×â¬â«×©××⬠â«××€×ת××⬠â«×××××⬠â«×ק××ת⬠â«×׊×ך×⬠â«×¢×§××תâ¬
- 8. 8
â«×ª×ךâ¬,â«×ס×××××⬠â«××××××ת⬠â«×× ×××ת⬠â«××ש×ך×⬠â«×ק××ת⬠â«××קש×⬠â«××× ×¡×⬠â«×ס⬠â«×× ×Š×××ת⬠â«×ש×ת׀×ת⬠â«×€× ת×â¬
â«××××ך⬠â«×ס×××⬠â«×¢×⬠â«××¢××××â¬.
â«××××â¬25â«××ךסâ¬2010â«×ש×ת׀×ת⬠â«××תך⬠â«××€××⬠â«××שך××⬠â«×××ס××⬠â«×ךש×ת⬠â«××ש×ך⬠â«×תק××â¬)â«×¢×⬠â«×××â¬
â«×⬠â«×©×ת׀×תâ¬â«×⬠â«×× ×šâ¬â«×©×ת׀×תâ¬â«×§××××××⬠â«××קâ¬(â«×××׊ע×ת⬠â«×ª×ך⬠â«×׀ך××ק×⬠â«××שקע×ת⬠â«××ק×⬠â«×ת⬠â«××××â¬
â«×⬠â«××××××תâ¬/â«××⬠â«×× ×€×§×ªâ¬ â«××â¬"â«×××ת⬠â«×â¬â«××××â¬â«×⬠â«××××ך⬠â«×× ×ךש⬠â«×©××××××â¬/â«×©×ª×׊ע⬠â«××שקע×ת⬠â«××â¬
â«×⬠â«××¢×××⬠â«×ת⬠â«×ש×××⬠â«×׀ך××ק×⬠â«×ש×ת׀×תâ¬"â«×©×ת׀×תâ¬"â«××ª×§× ×ת⬠â«××ש××¢×ת×â¬.â«×× ×סףâ¬,â«×××€×⬠â«× ק××¢â¬
â«×××׊××ת⬠â«×©×⬠â«×ס⬠â«×׊ך××⬠â«×××ך×â¬,â«×ת×׊⬠â«××׊×××⬠â«×שךâ¬â«××€×ת××⬠â«×§×××××⬠â«×¢×⬠â«×קשך⬠â«×ש×ת׀×ת⬠â«××â¬
â«×××׀ק×⬠â«××××××⬠â«××ª×§× ×⬠â«×× ××ת⬠â«××׊×ך×⬠â«×××׀ק×â¬)â«×ך×××××⬠â«×ש×⬠â«××××××⬠â«××׊××ת⬠â«××××ס⬠â«×ך××תâ¬
â«×××â¬(â«×××ש×ך⬠â«×××€×ך×⬠â«××××â¬.
3.â«××⬠â«×©×ק⬠â«×ס×××× ×⬠â«×ש××€×â¬â«× ×××××⬠â«×š××â¬
â«××⬠â«×××⬠â«××××¢×⬠â«× ×××â¬,â«× ×××××⬠â«××ך××⬠â«××⬠â«×ש×ת׀×ת⬠â«×©×⬠â«×ש×ק⬠â«×ס×××× ×⬠â«×××ת×××⬠â«×©×× ××××⬠â«×××⬠â«××â¬,
â«××¢×â¬â«××ס×ךת⬠â«×Š×ךף⬠â«×שך⬠â«×ש×ת׀×ת⬠â«×©×⬠â«×××ךק××ך×××⬠â«××××⬠â«××⬠â«××¢× ×××⬠â«× ××××⬠â«×שך⬠â«×׀ך×××⬠â«×תâ¬
â«×××â¬â«××©× ×ªâ¬ â«×ש×ת׀×ת⬠â«×©×⬠â«×תק×׀ת×⬠â«×â¬2009.
3.1â«×××â¬â«×ס×סâ¬â«×â¬â«×׊×××â¬)â«×©â¬ â«××××€×â¬"â«×â¬(â«××××â¬30â«×ס׀×××ךâ¬2010
â«×שך×××⬠â«××××¢â¬â«××ץ⬠â«××××¢â¬â«××ך××⬠â«×€×š××××â¬
â«×Š×××⬠â«××â¬â«×Š×××â¬â«×××ךâ¬â«×ס׀×⬠â«××â¬â«×¡×â¬"â«×â¬
â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬
â«× ×ס××â¬:
â«××××× ××⬠â«×©×××⬠â«××××× ××â¬2,216--98,111--100,327
â«×¢×š×⬠â«× ××ך×תâ¬52468,5541,873166,980237,931
â«×â¬â«××××⬠â«××תך×ת⬠â«×××××â¬
)â«× ×××ת⬠â«××׊××ת⬠â«××××â¬(
55----9981,053
â«×××⬠â«× ×€×⬠â«×× ×ס×⬠â«×שקע×â¬----111,106661,005772,111
â«×ת××××â¬â«×××תâ¬:
â«×××ת⬠â«××תך×ת⬠â«×××××â¬)â«××ש×ך××⬠â«××××â¬
â«×§×Š×šâ¬ â«××××⬠â«× ××ך××⬠â«×€×× × ×¡××â¬(
)337(--)225,455
(
--)225,792(
____________________________________
2,45868,554)14,365(828,983885,630
3.2â«×€××â¬â«×× ××ך××⬠â«×׊××תâ¬
â«×××⬠â«×תק×׀תâ¬"â«×¢×ª××××⬠â«×עסק××ת⬠â«×ש×ת׀×ת⬠â«×תקשך×⬠â«×â¬â«×ך××שת⬠â«×ªâ¬35â«××××⬠â«×××ך××⬠â«×××××× ×â¬12
â«×â¬â«××ק×××ךâ¬2010.â«×©×⬠â«×××××€××⬠â«×שעך⬠â«×ש×× ××××⬠â«××€× ×⬠â«××××⬠â«×××⬠â«×ת×׊ע×⬠â«××××ך×ת⬠â«×עסק××תâ¬
â«×ª×ך⬠â«×××⬠â«×××ך⬠â«××€×ת××⬠â«×ש×ת׀×ת⬠â«×©×⬠â«×׊׀×××⬠â«××שקעת×⬠â«××ק⬠â«××××⬠â«××××ךâ¬,â«××× ×⬠â«×©××⬠â«×ף⬠â«×¢×â¬
â«×ש××× ××ת⬠â«××××× ×⬠â«××× ×⬠â«×עסק××ת⬠â«×××ך×תâ¬.
- 9. 9
â«×׀ת×⬠â«×עסק××ת⬠â«×¢×⬠â«× ת×× ××⬠â«××××â¬â«×⬠â«×ת×ך××⬠â«××תâ¬â«×××â¬:
â«××××¢â¬
â«×ק××â¬
â«××××¢â¬
â«×ש××â¬
â«×××¢×â¬
â«×€×§××¢×â¬
â«×¡×××××â¬â«××××× ××â¬
â«×ק××â¬
â«×©â¬ â«×××€×â¬"â«×â¬
â«××××× ××⬠â«×¡×××××â¬
â«×©â¬ â«×××€×⬠â«×ש××â¬"â«×â¬
â«× ××ת⬠â«×©×××â¬
â«×©â¬ â«×××€×â¬"â«×â¬
â«×¢×¡×§â¬â«××תâ¬â«×ק×××â¬
â«×××ךâ¬â«×â¬â«××× ×⬠â«×ªâ¬
â«×©××× â¬â«×â¬â«×××ךâ¬â«×â¬â«×ªâ¬
â«×ש××× ××תâ¬
â«×××ךâ¬
â«×ך×â¬"â«×â¬
â«×©×§×××â¬
â«××ש××â¬
12/10/10128,264128,966)702(
â«×⬠â«×ª×ך××⬠â«×××ךâ¬â«×××â¬â«×¢×¡×§×⬠â«×€×§×¢×â¬â«×š×©××⬠â«××ש×ת׀×ת⬠â«××××ך×ת⬠â«××ק×××⬠â«×תâ¬â«×׀ס×â¬â«×ס×⬠â«×××× ×⬠â«××××â¬
â«×©×â¬2,350â«×©â¬ â«×××€×â¬"â«×â¬.
4.â«×××××â¬â«×ª×××××⬠â«××ש×â¬:
â«××××â¬â«××ס׀×××⬠â«×××××ת⬠â«××ש×ךâ¬
â«××ךק××ך×××â¬â«×ש×תףâ¬â«×ש×ת׀×ת⬠â«××¢×⬠â«×קךת⬠â«×¢×⬠â«×××׀ק×⬠â«×××ך××⬠â«×××⬠â«×××××â¬.â«××××⬠â«××ס×ךתâ¬
â«××ךק××ך×××⬠â«×××⬠â«×¢×⬠â«×ש×ת׀×ת⬠â«×©×⬠â«××ס׀×××⬠â«×××××ת⬠â«××ש×ךâ¬â«×××××⬠â«×ש×תףâ¬,â«××××ת⬠â«×××¢×ךתâ¬
â«×××ךק××ך×××⬠â«××ך×⬠â«×©×⬠â«××¢××× ×⬠â«××ס׀×××⬠â«×××××תâ¬,â«×©× ק××¢×⬠â«××ש×××⬠â«×××¢×⬠â«××€× ×⬠â«××××⬠â«×ס׀ךâ¬
â«×××××ת⬠â«×××ש×ךâ¬.â«××ס׀×××⬠â«×××××ת⬠â«××ש×ך⬠â«×׊×ך×⬠â«×××ךק××ך×××⬠â«××ש××תâ¬,â«×ת×׊××ת⬠â«× סקך×תâ¬
â«××ס׀××תâ¬,â«×ש×ת׀×ת⬠â«×€×¢×××ת⬠â«×¢×⬠â«× ת×× ××⬠â«×××׊×××⬠â«×ש×ת׀×ת⬠â«×©×⬠â«×××××× ××⬠â«×ת×ך××⬠â«××ס׀×⬠â«××׊×â¬
â«××ש××××â¬â«×§××××ת⬠â«×תק××€×תâ¬.â«××ך×⬠â«×ךש×ת⬠â«×¢×××⬠â«×ש×ת׀×ת⬠â«×©×⬠â«×××קך⬠â«××ש×××⬠â«×š×××â¬
â«××ש×ך×⬠â«×ך×⬠â«××ס׀×××⬠â«×××××ת⬠â«×× ××ע⬠â«××××ך×⬠â«×©×××⬠â«×××⬠â«×××ךק××ך×××â¬.
5.â«××ך××תâ¬â«×ת××××⬠â«×©×⬠â«××€×× × ×¡×⬠â«××××××⬠â«×¢×⬠â«×קשך⬠â«×××××â¬
5.1â«×§×š×××××⬠â«×ש××× ××××⬠â«××××× ××â¬
â«×â¬â«×©â¬ â«×עך×ת⬠â«×Š×ך×â¬â«×â¬â«×â¬â«×â¬â«×ש×ת׀×ת⬠â«×שקע×ת⬠â«×©×⬠â«××â¬â«×××⬠â«× ×€×⬠â«×× ×ס×â¬,â«×××ך⬠â«××××× ××⬠â«×ש×ת׀×ת⬠â«×¢×ך×תâ¬
â«×××⬠â«× ×€×⬠â«×׀קת⬠â«×©×⬠â«×Š×€×××ת⬠â«×××××תâ¬,â«×׀קת×⬠â«××¢××××ת⬠â«×©×××⬠â«××××ך×⬠â«×××ך×â¬.â«×××⬠â«××××× ××â¬
â«××××××⬠â«×עת⬠â«×××ת⬠â«×¢×⬠â«××¢×קך⬠â«×ת×סס××â¬,â«×©×ק⬠â«×××ך×â¬,â«×©×⬠â«××¢×ך⬠â«×× ×ס×××⬠â«×¡×ס××××⬠â«×¡×§×š××â¬
â«×ש×ת׀×תâ¬.
â«×ס⬠â«×עך×ת⬠â«××⬠â«×©×××⬠â«××××ך×⬠â«××××ך×⬠â«×׊׀×××ת⬠â«××××⬠â«×× ×€×⬠â«×××××ת⬠â«×©×⬠â«×תך⬠â«×עך×תâ¬â«×××ך⬠â«×šâ¬
â«×׊׀×××ת⬠â«×׀קת×⬠â«×¢××××תâ¬,â«×ª×׊××ת⬠â«×¢×⬠â«×××ת×ת⬠â«××ש׀ע×⬠â«××ך××⬠â«×ס×××××⬠â«××קך××⬠â«×¢×©×××â¬
â«××ס׀×⬠â«×׊××⬠â«×¢×⬠â«××⬠â«×ש×ת׀×ת⬠â«×©×⬠â«××€×¢×××תâ¬,â«×ש×ת׀×ת⬠â«×©×⬠â«××ס׀×××⬠â«×××××ת⬠â«×©×××××⬠â«××€×â¬.
â«×©×⬠â«××ס׀×⬠â«××׊×⬠â«×¢×⬠â«××××â¬â«×⬠â«×©×⬠â«××××ת⬠â«××¢××ת⬠â«×××⬠â«× ×€×⬠â«×× ×ס×⬠â«×שקע×ת⬠â«× ××××ת⬠â«×ש×ת׀×תâ¬-
772,111â«×©â¬ â«×××€×â¬"â«×â¬,â«××⬠â«×שךâ¬â«×ש××××⬠â«×××××ת⬠â«××× ×⬠â«××⬠â«×××××⬠â«×ש×תף⬠â«×¢×š×תâ¬â«×â¬â«×©×⬠â«×××××⬠â«××××××â¬
â«×××⬠â«×שקע×תâ¬.
5.2â«×ª×⬠â«×××ך⬠â«××ך××¢××â¬â«××××⬠â«×š××â¬
â«×â¬â«×€×š×××â¬â«×šâ¬'â«×××ךâ¬4â«×â¬â«××ס׀×××⬠â«××××תâ¬.
- 10. 10
â«×××××⬠â«×ש×תף⬠â«×ש×â¬-â«××⬠â«×× ×⬠â«××××⬠â«×שך××ק×â¬â«××¢â¬"â«×â¬
________________________________________
â«×Š×ף⬠â«××××â¬ââ«××â¬"â«×šâ¬â«××ךק××ךâ¬â«×××â¬â«×××⬠â«××ס×â¬
â«×ע⬠â«××⬠â«×× ×⬠â«××××⬠â«××שך××ק×â¬"â«×â¬-â«×× ×â¬"â«×â¬â«×â¬â«×ע⬠â«××⬠â«×× ×⬠â«××××⬠â«×שך××ק×â¬"â«×â¬-
â«×××××⬠â«×ש×תףâ¬â«×××××⬠â«×ש×תףâ¬
14â«×× ××××ךâ¬2010
- 12. â«×שך××ק×â¬-â«× ××â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬
â«×ª×׊×תâ¬â«×â¬â«××××⬠â«××× ×××⬠â«×ס׀×××⬠â«×××תâ¬30â«×ס׀×××ךâ¬2010)â«×××קך××⬠â«××ת×â¬(
â«×ªâ¬â«××¢× ××× ××⬠â«×××â¬
â«×¢â¬â«×××â¬
â«×××â¬â«×¡×§×ך×â¬2
â«××× â¬ â«××ס׀×⬠â«××׊×⬠â«×¢×⬠â«××××ת⬠â«×ª×׊×תâ¬â«×××â¬3
â«××× ×××⬠â«×××××⬠â«×ך×××⬠â«×¢×⬠â«××××ת⬠â«×ª×׊×תâ¬4
â«×ª×׊×תâ¬â«×××â¬â«×תâ¬â«×ש×ת׀×ת⬠â«××××⬠â«×ש×× ××××⬠â«×¢×â¬â«××× ×××⬠â«××××××תâ¬5
â«×ª×׊×תâ¬â«×××â¬â«×תâ¬â«×××××× ××⬠â«×ª×ך×××⬠â«×¢×â¬â«××× ×××â¬6
â«×××ך××â¬â«×××××ת⬠â«×ת×׊×תâ¬â«××ס׀×××â¬â«××× ×××â¬7
- 13. â«×××ק××⬠â«×¡×××â¬
â«××××× ×××⬠â«××××â¬KPMGâ«×××€××â¬800068403
â«××ך××¢×⬠â«×š×××â¬17,â«×××ך⬠â«×ª×â¬609â«×€×§×¡â¬844468403
â«××××⬠â«×ª×â¬61006â«××× ××š× ×â¬www.kpmg.co.il
â«×××ק××⬠â«×¡×××â¬,â«×¢×€â¬ â«×š×©×××⬠â«×©×ת׀×תâ¬"â«×€×§××ת⬠â«×â¬â«×â¬â«×©×תâ¬â«×€×××תâ¬,
â«×⬠â«× ⬠â«×â¬â«×⬠â«×šâ¬ â«×⬠â«×â¬â«×â¬-K P M G I n t e r n a t i o n a l
â«×ש×××ץ⬠â«×š×©××⬠â«×§×××׀ך×××â¬.
â«×××â¬â«×¡×§×ך×â¬â«×©×â¬â«×š×××â¬â«××ש×××â¬â«×××קך××â¬â«×ש×ת׀×ת⬠â«×ש×ת׀××â¬
"â«× ××⬠â«×שך××ק×â¬2"â«××⬠â«×©×ת׀×תâ¬â«×××תâ¬
â«××××â¬
â«×¡×§×š× ×â¬â«×תâ¬â«×××××¢â¬â«××ס׀×â¬â«××׊×ךףâ¬â«×©×â¬"â«× ××⬠â«×שך××ק×â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬)â«××××â¬-â«×ש×ת׀×תâ¬(,â«×ת⬠â«×××××â¬
â«××××⬠â«××× ×××⬠â«××ס׀×⬠â«××׊×⬠â«×¢×⬠â«××××⬠â«×ª×׊×תâ¬30â«×ס׀×××ךâ¬2010â«×ך×××⬠â«×¢×⬠â«××× ×××⬠â«×ת×׊×ת×××⬠â«×××××ת⬠â«××תâ¬
â«×××××â¬,â«×ת×ך×××⬠â«××××××ת⬠â«×ש×ת׀×ת⬠â«××××⬠â«×©×× ××××â¬â«×××××× ××â¬,â«×תק××€×תâ¬â«×©×â¬â«×ªâ¬â«×ש××ש×⬠â«×©×¢×â¬â«×××ש××â¬â«×©×סת××××â¬
â«×××ת×â¬â«×ª×ך××â¬.â«×××××⬠â«×ש×תף⬠â«×©×⬠â«×××× ×××⬠â«×××ךק××ך×××â¬â«××ך×××⬠â«×ש×ת׀×ת⬠â«×©×â¬â«×עך×××â¬â«×××׊××â¬â«×©×â¬â«××××¢â¬
â«××ת××⬠â«×××⬠â«××× ×××⬠â«×תק××€×ת⬠â«×ס׀×â¬â«××× ×××××⬠â«×ש××× ××ת⬠â«×תק×â¬IAS 34"â«××× ×××⬠â«×תק××€×ת⬠â«×ס׀×⬠â«×××××â¬",â«××⬠â«×××â¬
â«×׀⬠â«×××⬠â«××× ×××⬠â«×תק××€×ת⬠â«×ס׀×⬠â«×××ע⬠â«×עך××ת⬠â«××ך×××â¬â«×⬠â«×€×š×§â¬ â«×â¬'â«×¢×š×⬠â«× ××ך×ת⬠â«×ª×§× ×ת⬠â«×©×â¬)â«×ª×§×׀ת×××⬠â«××××תâ¬
â«××××××××â¬(,â«×תשâ¬"â«×â¬-1970.â«××ך×××ª× ×â¬â«×××â¬â«×××××¢â¬â«××¡×§× ×â¬â«×¢×â¬â«××××¢â¬â«×ס׀×â¬â«×תק××€×תâ¬â«××× ×××â¬â«×××â¬â«×¢×⬠â«××ת×ססâ¬
â«×¡×§××š×ª× ×â¬.
â«×סק×ך×⬠â«××קףâ¬
â«×¢×š×× ×â¬â«×תâ¬â«×¡×§××š×ª× ×â¬â«××ת××â¬â«×תק×â¬â«×¡×§×ך×â¬1â«×©×â¬â«×ש×תâ¬â«×š×××â¬â«××שך××⬠â«×ש×××â¬"â«×¡×§×ך×â¬â«×©×â¬â«××××¢â¬â«×ס׀×â¬â«×תק××€×תâ¬
â«××× ×××â¬â«×× â¬â«×¢×š×תâ¬â«×¢×â¬â«×××â¬â«××ש×××⬠â«×š×××â¬â«×××קךâ¬â«×©×â¬â«×××ש×תâ¬."â«×¡×§×ך×â¬â«×©×â¬â«××××¢â¬â«×ס׀×â¬â«×תק××€×תâ¬â«××ך××ת⬠â«××× ×××â¬
â«×××ך×ך××â¬,â«××¢×קךâ¬â«×¢×â¬â«×× ×©××â¬â«×××ך×××â¬â«××¢× ××× ××â¬â«×××ש××× ××××⬠â«××ס׀×××â¬,â«××××ש××â¬â«× ×××â¬â«×¡×§×ך×â¬â«×× ××××××â¬
â«×××ך××â¬.â«×¡×§×ך×â¬â«×׊××׊×ת⬠â«××× ×â¬â«×××ק׀×â¬â«×××××â¬â«× ××ךתâ¬â«××שךâ¬â«××ק×ךתâ¬â«×× ×¢×š×תâ¬â«××ת××â¬â«××ק×ך⬠â«××ª×§× ×â¬â«×ªâ¬
â«×ק×××××â¬â«××שך××â¬â«×××€×××â¬â«××× ×â¬â«××׀שךתâ¬â«×× ×â¬â«××ש××â¬â«×©× ××××ע⬠â«××××××â¬â«×××â¬â«××¢× ××× ××â¬â«××ש××¢×ת×××â¬â«×©×××â¬â«××××××â¬
â«××××תâ¬â«×××ק×ךת⬠â«××××××â¬.â«××ת××â¬â«×××â¬,â«×××â¬â«×× ×â¬â«××××××â¬â«×××תâ¬â«×עתâ¬â«×©×â¬â«××ק×ךתâ¬.
â«××¡×§× ×â¬
â«××ת×ססâ¬â«×¢×â¬â«×¡×§××š×ª× ×â¬,â«××â¬â«×תש××ת⬠â«××â¬â«×××× ×â¬â«××ךâ¬â«×××ך×â¬â«×× ×â¬â«×ס××ךâ¬â«×©×××××¢â¬â«××ס׀×â¬â«×× â¬"â«×â¬â«×¢×š×⬠â«××× ×â¬â«×â¬,â«×××â¬
â«××××ת××ת⬠â«××××× ×תâ¬,â«××× ×××××⬠â«×ש××× ××ת⬠â«×תק×⬠â«××ת××â¬IAS 34.
â«×ק×××ת⬠â«××€×סק×⬠â«××××ך⬠â«×× ×סףâ¬,â«×¡×§××š×ª× ×⬠â«×¢×⬠â«××ת×ססâ¬,â«×©××××ע⬠â«×ס××ך⬠â«×× ×⬠â«×××ך×⬠â«××ך⬠â«×××× ×⬠â«×תש××ת⬠â«××⬠â«××â¬
â«×× â¬ â«××ס׀×â¬"â«××××⬠â«××× ×⬠â«×â¬,â«××××ת××ת⬠â«××××× ×ת⬠â«×××â¬,â«×⬠â«×€×š×§â¬ â«××€×⬠â«××××××⬠â«××ך××ת⬠â«××ךâ¬'â«×¢×š×⬠â«× ××ך×ת⬠â«×ª×§× ×ת⬠â«×©×â¬
)â«×ªâ¬ â«××××תâ¬â«××××××××⬠â«×§×׀ת×××â¬(,â«×תשâ¬"â«×â¬-1970.
â«×××ק××⬠â«×¡×××â¬
â«×ש×××⬠â«×š×××â¬
14â«×× ××××ךâ¬2010
- 14. 3
"â«×שך××ק×â¬-â«× ××â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬
â«××××⬠â«××× ×××⬠â«××ס׀×⬠â«××׊×⬠â«×¢×⬠â«×××⬠â«×ª×׊×תâ¬
30â«×ס׀×××ךâ¬30â«×ס׀×××ךâ¬31â«××׊××ךâ¬
201020092009
)â«×××קך⬠â«××ת×â¬()â«×××קך⬠â«××ת×â¬()â«×××קךâ¬(
â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬â«××â¬â«×©â¬ â«×€×â¬"â«×â¬
â«×©×××€××⬠â«× ×ס××â¬
â«×â¬â«××××× ××⬠â«×ש×××⬠â«×××× ××â¬100,3273,57324,812
â«××ס×ך⬠â«×¢×š×⬠â«× ××ך×תâ¬147,416297,156270,450
â«××××ך×⬠â«×××× ××⬠â«×¢×š×⬠â«× ××ך×תâ¬90,51542,74381,137
â«×â¬â«××××⬠â«××תך×ת⬠â«×××××â¬5526181
â«×§×Š×šâ¬ â«××××⬠â«× ××ך××⬠â«×€×× × ×¡×××⬠â«××ש×ך××â¬-83-
â«×©×××€××⬠â«× ×ס××⬠â«×××⬠â«×¡×â¬338,313343,581376,580
â«×©×××€××⬠â«××ת×⬠â«× ×ס××â¬
â«×â¬â«×××⬠â«× ×€×⬠â«×× ×ס×⬠â«×©×§×¢×â¬772,111327,254376,897
â«× ×××ת⬠â«××׊××תâ¬998--
â«×©×××€××⬠â«××ת×⬠â«× ×ס××⬠â«×××⬠â«×¡×â¬773,109327,254376,897
â«× ×ס××⬠â«×××⬠â«×¡×â¬1,111,422670,835753,477
â«×â¬â«×©×××€×ת⬠â«×ª×××××××תâ¬
â«×â¬â«×××ת⬠â«××תך×ת⬠â«××××â¬225,09017,42534,518
â«×§×Š×šâ¬ â«××××⬠â«× ××ך××⬠â«×€×× × ×¡××⬠â«××ש×ך××â¬702--
â«×©×××€×ת⬠â«×ת×××××××ת⬠â«×××⬠â«×¡×â¬225,79217,42534,518
â«×â¬â«××â¬
â«×ש×ת׀×ת⬠â«×××â¬1,135,921927,574969,980
â«××××ך×⬠â«×××× ××⬠â«×¢×š×⬠â«× ××ך×ת⬠â«××××⬠â«×××⬠â«×§×š×â¬86,55838,78677,180
â«×§×š×â¬â«×××â¬â«×ª×š×××⬠â«××׀ךש×â¬)27,379()13,843()12,496(
â«×׀ס×⬠â«×תךתâ¬)309,470()299,107()315,705(
â«×××⬠â«×××⬠â«×¡×â¬885,630653,410718,959
â«××××⬠â«×ת×××××××ת⬠â«×××⬠â«×¡×â¬1,111,422670,835753,477
â«×Š×ף⬠â«××××â¬ââ«××â¬"â«×⬠â«×šâ¬â«××ךק××ךâ¬â«×××â¬
â«×ע⬠â«××⬠â«×× ×⬠â«××××⬠â«××שך××ק×â¬"â«×â¬-
â«×××××⬠â«×ש×תףâ¬
â«×××⬠â«××ס×â¬-â«×× ×â¬"â«×â¬
â«×â¬â«×â¬â«×ע⬠â«××⬠â«×× ×⬠â«××××⬠â«×©×š××ק×â¬"â«×â¬-
â«×××××⬠â«×ש×תףâ¬
â«×¡××⬠â«×ך×â¬-â«×ס׀××⬠â«×× ××â¬
â«×ע⬠â«××⬠â«×× ×⬠â«××××⬠â«××שך××ק×â¬"â«×â¬-
â«×××××⬠â«×ש×תףâ¬
â«×ªâ¬â«××ס׀×××⬠â«×××××ת⬠â«××ש×ך⬠â«×ך××â¬:14â«×× ××××ךâ¬2010
â«×â¬â«×××⬠â«× ׀ך×⬠â«××ת×⬠â«××ק⬠â«××××××⬠â«××× ×××⬠â«××ס׀×××⬠â«×××××ת⬠â«×ת×׊×ת⬠â«××׊×ך׀××⬠â«×××ך××â¬.
- 15. 4
"â«×שך××ק×â¬-â«× ××â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬
â«××× ×××⬠â«×××××⬠â«×ך×××⬠â«×¢×⬠â«×××⬠â«×ª×׊×תâ¬
â«×××ש××⬠â«×ª×©×¢×⬠â«×©×⬠â«×תק××€×â¬â«×××ש××⬠â«×©××ש×⬠â«×©×⬠â«×תק××€×â¬â«××©× ×â¬
â«××××⬠â«×©×סת××××â¬30â«×ס׀×××ךâ¬â«××××⬠â«×©×סת××××â¬30â«×ס׀×××ךâ¬â«×©×סâ¬â«××××⬠â«×ª××××â¬
201020092010200931â«××׊××ךâ¬2009
)â«×××קך⬠â«××ת×â¬()â«×××קך⬠â«××ת×â¬()â«××ת×â¬â«×××קךâ¬()â«×××קך⬠â«××ת×â¬()â«×××קךâ¬(
â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬
â«××× ×¡×תâ¬
â«×××××⬠â«××× ×¡×תâ¬29,002181,96613,82324,965167,190
â«××׊××תâ¬
â«×××⬠â«× ×€×⬠â«×××€×ש×⬠â«×××׊×ע⬠â«×שתת׀×תâ¬9,4262,0825534471,806
â«××××××ת⬠â«×× ×××⬠â«××׊××תâ¬8,9403,6173,3471,2486,156
â«×××××⬠â«××׊××תâ¬4,4013,4074,3902,5692,966
22,7679,1068,2904,26410,928
â«×תק××€×⬠â«×š×××â¬6,235172,8605,53320,701156,262
â«××××⬠â«×š×××⬠â«×©×⬠â«××ך××⬠â«×ך×××××â¬:
â«× ××⬠â«×©×× ××â¬â«×¢×š×⬠â«× ××ך×ת⬠â«×©×⬠â«××××⬠â«×ש×××â¬
â«×××× ××â¬â«××××ך×â¬9,37832,839)18,947()3,169(71,233
â«×€×¢×××××ת⬠â«××××⬠â«××ץ⬠â«×××ע⬠â«×ª×š×××⬠â«×׀ךש×â¬
â«×××¥â¬)14,883()13,432()25,908()11,369()12,085(
â«×תק××€×⬠â«××××⬠â«×š×××⬠â«×××⬠â«×¡×â¬730192,267)39,322(6,163215,410
â«×שתת׀×ת⬠â«×××××ת⬠â«×š×××â¬:
â«××ש⬠â«×©×§×â¬â«××ש⬠â«×©×§×â¬â«××ש⬠â«×©×§×â¬â«××ש⬠â«×©×§×â¬â«××ש⬠â«×©×§×â¬
â«×××××ת⬠â«××××××⬠â«×ס×ס×⬠â«×š×××â¬
â«×שתת׀×תâ¬0.00060.0171*0.00050.0020*0.0153*
*â«×â¬â«×××⬠â«××××ש××⬠â«×©××׊ע×⬠â«××××××ת⬠â«××× ×€×§×ת⬠â«×××××××⬠â«×××××⬠â«×ך××××⬠â«××××⬠â«××׀ךע⬠â«×ת××â¬,â«×××ק×××ך⬠â«××××ס×â¬2010.
â«×â¬â«×××⬠â«× ׀ך×⬠â«××ת×⬠â«××ק⬠â«××××××⬠â«××× ×××⬠â«××ס׀×××⬠â«×××××ת⬠â«×ת×׊×ת⬠â«××׊×ך׀××⬠â«×××ך××â¬.
- 16. 5
"â«×שך××ק×â¬-â«× ××â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬
â«×ª×׊×תâ¬â«×â¬â«×⬠â«×ש×ת׀×ת⬠â«××××⬠â«×ש×× ××××⬠â«×¢×⬠â«××â¬â«××× ×××⬠â«×××××תâ¬
â«××××⬠â«×××⬠â«×§×š×â¬â«×××⬠â«×§×š×â¬
â«×¢×š×⬠â«× ××ך×תâ¬â«××׀ךש×â¬
â«×ש×ת׀×ת⬠â«×××â¬â«××××ך×â¬â«×××× ××â¬â«×ª×š×××â¬â«×׀ס×⬠â«×תךתâ¬â«×××⬠â«×¡×â¬
)â«×××קך⬠â«××ת×â¬()â«×××קך⬠â«××ת×â¬()â«×××קך⬠â«××ת×â¬()â«×××קך⬠â«××ת×â¬()â«×××קך⬠â«××ת×â¬(
â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬
â«×â¬â«×⬠â«×ª×©×¢×⬠â«×©×⬠â«×ª×§××€×â¬â«××ש××â¬
â«×©â¬â«××××⬠â«×סת××××â¬30â«×ס׀×××ךâ¬2010
â«×â¬â«××××⬠â«×ª×š×â¬1â«××× ××ךâ¬2010969,98077,180)12,496()315,705(718,959
â«×תק××€×⬠â«×š×××â¬---6,2356,235
â«××ץ⬠â«×€×¢×××ת⬠â«××××⬠â«×ª×š×××⬠â«×׀ךש×â¬--)14,883(-)14,883(
â«××⬠â«×××× ××⬠â«× ×ס××⬠â«×©×⬠â«××××⬠â«×ש×××⬠â«× ××⬠â«×©×× ××â¬â«××ך×â¬-9,378--9,378
â«×××××ת⬠â«×©×⬠â«××ך×⬠â«×××⬠â«×× ×€×§×ªâ¬)â«××׊××ת⬠â«×× ××××â¬
â«×× ×€×§×â¬(165,941---165,941
â«×â¬â«××××⬠â«×ª×š×â¬30â«×ס׀×××ךâ¬20101,135,92186,558)27,379()309,470(885,630
â«×â¬â«×××ש××⬠â«×ª×©×¢×⬠â«×©×⬠â«×ª×§××€×â¬
â«×©â¬â«××××⬠â«×סת××××â¬30â«×ס׀×××ךâ¬2009
â«×â¬â«××××⬠â«×ª×š×â¬1â«××× ××ךâ¬2009856,3915,947)411()471,967(389,960
â«×תק××€×⬠â«×š×××â¬---172,860172,860
â«××ץ⬠â«×€×¢×××ת⬠â«××××⬠â«×ª×š×××⬠â«×׀ךש×â¬--)13,432(-)13,432(
â«×©×⬠â«××××⬠â«×ש×××⬠â«× ××⬠â«×©×× ××â¬â«××××ך×⬠â«×××× ××⬠â«× ×ס××â¬-32,839--32,839
â«×©â¬ â«××ך×⬠â«×××⬠â«×× ×€×§×ªâ¬â«×××××ת⬠â«×â¬)â«××׊××ת⬠â«×× ××××â¬
â«×× ×€×§×â¬(71,183---71,183
â«×â¬â«××××⬠â«×ª×š×â¬30â«×ס׀×××ךâ¬2009927,57438,786)13,843()299,107(653,410
â«××××⬠â«×××⬠â«×§×š×â¬â«×××⬠â«×§×š×â¬
â«×¢×š×⬠â«× ××ך×תâ¬â«××׀ךש×â¬
â«×ש×ת׀×ת⬠â«×××â¬â«××××ך×â¬â«×××× ××â¬â«×ª×š×××â¬â«×׀ס×⬠â«×תךתâ¬â«×××⬠â«×¡×â¬
)â«×××קך⬠â«××ת×â¬()â«××â¬â«×××קך⬠â«×ª×â¬()â«×××קך⬠â«××ת×â¬()â«×××קך⬠â«××ת×â¬()â«×××קך⬠â«××ת×â¬(
â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬
â«×â¬â«×××ש××⬠â«×©××ש×⬠â«×©×⬠â«×ª×§××€×â¬
â«×©â¬â«××××⬠â«×סת××××â¬30â«×ס׀×××ךâ¬2010
â«×â¬â«××××⬠â«×ª×š×â¬1â«×××××â¬20101,032,182105,505)1,471()315,003(821,213
â«×תק××€×⬠â«×š×××â¬---5,5335,533
â«××ץ⬠â«×€×¢×××ת⬠â«××××⬠â«×ª×š×××⬠â«×׀ךש×â¬--)25,908(-)25,908(
â«×©×⬠â«××××⬠â«×ש×××⬠â«× ××⬠â«×©×× ××â¬â«××××ך×⬠â«×××× ××⬠â«× ×ס××â¬-)18,947(--)18,947(
â«×××××ת⬠â«×©×⬠â«××ך×⬠â«×××⬠â«×× ×€×§×ªâ¬)â«××׊××ת⬠â«×× ××××â¬
â«×× ×€×§×â¬(103,739---103,739
â«×â¬â«××××⬠â«×ª×š×â¬30â«×ס׀×××ךâ¬20101,135,92186,558)27,379()309,470(885,630
â«×â¬â«×××ש××⬠â«×©××ש×⬠â«×©×⬠â«×ª×§××€×â¬
â«×©â¬â«××××⬠â«×סת××××â¬30â«×ס׀×××ךâ¬2009
â«×â¬â«××××⬠â«×ª×š×â¬1â«×××××â¬2009927,57441,955)2,474()319,808(647,247
â«×תק××€×⬠â«×š×××â¬---20,70120,701
â«×⬠â«×ª×š×××⬠â«×׀ךש×â¬â«××ץ⬠â«×€×¢×××ת⬠â«×××â¬--)11,369(-)11,369(
â«×©×⬠â«××××⬠â«×ש×××⬠â«× ××⬠â«×©×× ××â¬â«××××ך×⬠â«×××× ××⬠â«× ×ס××â¬-)3,169(--)3,169(
â«×â¬â«××××⬠â«×ª×š×â¬30â«×ס׀×××ךâ¬2009927,57438,786)13,843()299,107(653,410
- 17. 6
"â«×שך××ק×â¬-â«× ××â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬
â«×ª×׊×תâ¬â«×â¬â«××××⬠â«×ש×ת׀×ת⬠â«××××⬠â«×ש×× ××××⬠â«×¢×⬠â«××â¬â«××× ×××⬠â«××תâ¬)â«××ש×â¬(
â«××××⬠â«×××⬠â«×§×š×â¬â«×××⬠â«×§×š×â¬
â«×¢×š×⬠â«× ××ך×תâ¬â«××׀ךש×â¬
â«×ש×ת׀×ת⬠â«×××â¬â«××××ך×â¬â«×××× ××â¬â«×ª×š×××â¬â«×׀ס×⬠â«×תךתâ¬â«×××⬠â«×¡×â¬
)â«×××קךâ¬()â«×××קךâ¬()â«×××קךâ¬()â«×××קךâ¬()â«×××קךâ¬(
â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬â«×â¬â«×©â¬ â«××€×â¬"â«×â¬
â«×â¬â«××××⬠â«×©×סת××××⬠â«×©× ×â¬31â«××׊××ךâ¬2009
â«×â¬â«××××⬠â«×ª×š×â¬1â«××× ××ךâ¬2009856,3915,947)411()471,967(389,960
â«××©× ×⬠â«×š×××â¬---156,262156,262
â«××ץ⬠â«×€×¢×××ת⬠â«××××⬠â«×ª×š×××⬠â«×׀ךש×â¬--)12,085(-)12,085(
â«××××ך×â¬â«×××× ××â¬â«× ×ס××â¬â«×©×â¬â«××××â¬â«×ש×××â¬â«× ××â¬â«×©×× ××â¬-71,233--71,233
â«×©×⬠â«××ך×⬠â«×××⬠â«×× ×€×§×ªâ¬â«×××××תâ¬)â«×× ××××â¬
â«×× ×€×§×⬠â«××׊××תâ¬(113,589---113,589
â«×â¬â«××××⬠â«×ª×š×â¬31â«××׊××ךâ¬2009969,98077,180)12,496()315,705(718,959
â«×â¬â«××⬠â«× ׀ך×⬠â«××ת×⬠â«××ק⬠â«××××××⬠â«××× ×××⬠â«××ס׀×××⬠â«×××××ת⬠â«×ת×׊×ת⬠â«××׊×ך׀××⬠â«×××ך××â¬â«×â¬.
- 18. 7
"â«×שך××ק×â¬-â«× ××â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬
â«×ª×׊×תâ¬â«×â¬â«××× ×××⬠â«×××××× ××⬠â«×ª×ך×××⬠â«×¢×⬠â«××â¬
â«×××ש××⬠â«×ª×©×¢×⬠â«×©×⬠â«×תק××€×â¬â«×××ש××⬠â«×©××ש×⬠â«×©×⬠â«×תק××€×â¬â«××©× ×â¬
â«××××⬠â«×©×סת××××â¬30â«×ס׀×××ךâ¬â«××××⬠â«×©×סת××××â¬30â«×ס׀×××ךâ¬â«××××⬠â«×©×סת××××â¬
201020092010200931â«××׊××ךâ¬2009
)â«×××קך⬠â«××ת×â¬()â«×××קך⬠â«××ת×â¬()â«××ת×â¬â«×××קךâ¬()â«×××קך⬠â«××ת×â¬()â«×××קךâ¬(
â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬â«×©â¬ â«×××€×â¬"â«×â¬
â«×©××׀ת⬠â«××€×¢×××ת⬠â«××××× ××⬠â«×ª×ך×××â¬
â«×תק××€×⬠â«×š×××â¬6,235172,8605,53320,701156,262
â«×ת×××תâ¬:
â«××××××× ×⬠â«×š×××ת⬠â«××× ×¡×תâ¬)9,265()10,276()2,763()2,555()14,420(
â«××ס×ך⬠â«×¢×š×⬠â«× ××ך×ת⬠â«×שעך××⬠â«×š×××â¬)21,427()170,700()14,433()23,459()152,430(
â«××××⬠â«××תך×ת⬠â«×××××××⬠â«×©×× ××â¬)â«××××â¬
â«× ××ך××â¬()29(10,50666)84(10,591
â«×××ת⬠â«××תך×ת⬠â«××××××⬠â«×©×× ××â¬)â«××××â¬
â«× ××ך××â¬(1,539201,596)3,178()10,715(
)29,182()170,450()15,534()29,276()166,974(
â«×â¬â«×××× ××â¬,â«××€×¢×××ת⬠â«×©× ××¢×⬠â«× ××â¬)â«×©×©××ש×â¬
â«××€×¢×××תâ¬(â«×©××׀תâ¬)22,947(2,410)10,001()8,575()10,712(
â«×ªâ¬â«×שקע×⬠â«××€×¢×××ת⬠â«××××× ××⬠â«×ך×××â¬
â«×××⬠â«× ×€×⬠â«×× ×ס×⬠â«×שקע×â¬)220,368()194,347()150,246()56,222()214,813(
â«×â¬â«××ס×ך⬠â«×¢×š×⬠â«×× ××ך×ת⬠â«×©×§×¢×â¬)77,596()80,616()12,057()55,128()160,416(
â«×ªâ¬â«××ס×ך⬠â«×¢×š×⬠â«× ××ך×ת⬠â«×××××ש⬠â«××ך×â¬222,057178,15881,20745,995266,394
â«×©× תק×××⬠â«×š×××תâ¬8,99510,2742,7842,58114,122
â«×©×תק××⬠â«×××××× ×â¬4316327556769
â«×â¬â«×שקע×⬠â«××€×¢×××ת⬠â«×©×©××ש×⬠â«× ××⬠â«×××× ××â¬)66,481()85,899()78,237()62,718()93,944(
â«×××××⬠â«××€×¢×××ת⬠â«××××× ××⬠â«×ª×ך×××â¬
â«×××××ת⬠â«×©×⬠â«××ך×⬠â«×××⬠â«×× ×€×§×ªâ¬)â«××׊××ת⬠â«×× ××××â¬
â«×× ×€×§×â¬(165,94171,183103,739-113,589
â«× ×××ת⬠â«××׊××תâ¬)998(-)294(--
â«××××× ××â¬,â«×××××⬠â«××€×¢×××ת⬠â«×©× ××¢×⬠â«× ××â¬164,94371,183103,445-113,589
â«×××××â¬)â«×§××××â¬(â«×ש×××⬠â«×××××× ××⬠â«× ××â¬
â«××××× ××â¬75,515)12,306(15,207)71,293(8,933
â«×â¬â«×תק××€×⬠â«×ת×××ת⬠â«××××× ××⬠â«×ש×××⬠â«×××× ××â¬24,81215,87985,12074,86615,879
â«×â¬â«×תק××€×⬠â«×ס×ף⬠â«××××× ××⬠â«×ש×××⬠â«×××× ××â¬100,3273,573100,3273,57324,812
â«×â¬â«×××⬠â«× ׀ך×⬠â«××ת×⬠â«××ק⬠â«××××××⬠â«××× ×××⬠â«××ס׀×××⬠â«×××××ת⬠â«×ת×׊×ת⬠â«××׊×ך׀××⬠â«×××ך××â¬.
- 19. "â«×שך××ק×â¬-â«× ××â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬
â«×â¬â«××××⬠â«××× ×××⬠â«××ס׀×××⬠â«×××××ת⬠â«×ת×׊×ת⬠â«××ך××â¬30â«×ס׀×××ךâ¬2010)â«×××קך××⬠â«××ת×â¬(
8
â«×××ךâ¬1-â«××××××ת⬠â«××ש×תâ¬
â«×שך××ק×â¬-â«× ××â¬2,â«×××××ת⬠â«×©×ת׀×תâ¬)â«××â¬â«××â¬-â«×ש×ת׀×תâ¬(â«×××××⬠â«×ש×תף⬠â«×××⬠â«×××××ת⬠â«×©×ת׀×ת⬠â«×ס××⬠â«×€×⬠â«×¢×⬠â«××ק××â¬-â«×שך××ק×â¬
â«×ע⬠â«××⬠â«×× ×⬠â«××××â¬"â«××××××⬠â«×ש×תף⬠â«××××⬠â«×â¬-â«× ××××⬠â«×שך××ק×â¬)1988(â«××¢â¬"â«×â¬.â«××××⬠â«× ךש××⬠â«×ש×ת׀×תâ¬3â«××ךסâ¬1989â«×€×§××ת⬠â«××€×â¬
â«×ש×ת׀×××תâ¬)â«××ש⬠â«× ×ס×â¬(â«×תש×â¬"â«×â¬-1975.â«××⬠â«××××××ת⬠â«×ש×ת׀×ת⬠â«××ךתâ¬â«×â¬â«×××€×⬠â«××€×¢×××ת⬠â«××שתתףâ¬â«×××⬠â«× ×€×⬠â«×©×â¬â«××׀קת×â¬
â«××שך××â¬.â«××š× ××⬠â«×š×××⬠â«××× ×⬠â«×ש×ת׀×ת⬠â«×©×⬠â«×ךש××⬠â«×××¢×â¬8,â«×ª×§×××⬠â«×€×ª×â¬.â«××ס×ך⬠â«×š×©×××ת⬠â«×ש×ת׀×ת⬠â«×©×⬠â«××שתת׀×ת⬠â«×××××תâ¬
â«××××⬠â«×ת×⬠â«×¢×š×⬠â«×× ××ך×ת⬠â«×××ךס×â¬.
â«×××ךâ¬2-â«××ס׀×××⬠â«×××××ת⬠â«×¢×š××ת⬠â«×ס×סâ¬
â«×â¬.â«××× ×××××××⬠â«×ס׀×⬠â«×××××⬠â«××ª×§× ×⬠â«×¢××××⬠â«×¢×⬠â«×׊×ך×â¬
â«××× â¬ â«××ס׀×××⬠â«×××××ת⬠â«×ª×׊×תâ¬â«×⬠â«××ת××⬠â«× עך××⬠â«×××â¬-34IAS,â«××× ×××⬠â«×תק××€×ת⬠â«×ס׀×⬠â«×××××â¬â«××××ע⬠â«××⬠â«×ת⬠â«××××ת⬠â«×××× ×â¬
â«×××××⬠â«×©× ת×××⬠â«×ס׀×××⬠â«×××××ת⬠â«×× ×ךשâ¬.â«××××⬠â«×©×סת××××⬠â«×××©× ×⬠â«××××⬠â«××ס׀×××⬠â«×××××ת⬠â«×¢×⬠â«××××⬠â«××ת×⬠â«×קך××⬠â«×שâ¬31
â«××׊××ךâ¬2009)â«××××â¬" :â«××©× ×ª×××⬠â«×××××תâ¬.("â«××⬠â«×××â¬,â«×€×š×§â¬ â«×××ך××ת⬠â«××ת××⬠â«× עך××⬠â«×××⬠â«××××תâ¬â«×â¬'â«×¢×š×⬠â«× ××ך×ת⬠â«××ª×§× ×תâ¬
)â«××××××××⬠â«×ª×§×׀ת×××⬠â«××××תâ¬(,â«×תשâ¬"â«×â¬â1970.
â«××××⬠â«×××××⬠â«×ש×תף⬠â«××ךק××ך×××⬠â«×××⬠â«×¢×⬠â«×׀ךס××⬠â«××שך×⬠â«××× ×××⬠â«××ס׀×××⬠â«×××××ת⬠â«×ª×׊×תâ¬14â«×× ××××ךâ¬2010.
â«×â¬.â«×עת⬠â«×ש×ק××⬠â«×××××× ××⬠â«×©×××שâ¬
â«×⬠â«×ª×׊×ת⬠â«×עך××תâ¬â«××××תâ¬â«×â¬â«×ס׀×××â¬â«××× ×××â¬â«××ת××â¬â«×â¬-IFRS,â«××שת×ש⬠â«××× ×××⬠â«× ×ךשתâ¬â«××עך××ת⬠â«×עת⬠â«×ש×ק××â¬,â«××××× ××â¬
â«××ת×××××××ת⬠â«× ×ס××⬠â«×©×⬠â«×ס×××××⬠â«××¢×⬠â«××××× ××ת⬠â«××ש××⬠â«×¢×⬠â«×ש׀××¢××⬠â«×שך⬠â«××× ××תâ¬,â«×××׊××ת⬠â«××× ×¡×תâ¬.â«×©×ת×׊××ת⬠â«××××ךâ¬
â«×××××× ××⬠â«×©×× ×ת⬠â«××××ת⬠â«×¢××××ת⬠â«××€××¢×â¬â«×××â¬.
â«××× ×××⬠â«×©×⬠â«××עת⬠â«×©×ק××â¬,â«×©×©××ש×⬠â«××¢×קך××ת⬠â«×××× ××ת⬠â«×ש×ת׀×ת⬠â«×©×⬠â«××ש××× ××ת⬠â«××××× ××ת⬠â«××ש××⬠â«×עתâ¬â«××עך××תâ¬
â«×××××ת⬠â«×××⬠â«××ך×××תâ¬,â«××©× ×ª×××⬠â«××ס׀×××⬠â«×××××ת⬠â«×©×©××ש×⬠â«×××⬠â«×¢×⬠â«×¢×§××××⬠â«××× ×â¬.
â«×××ךâ¬3-â«××ש××× ××ת⬠â«××××× ××ת⬠â«×¢×קך×â¬
â«×â¬.â«××××â¬
â«×××⬠â«××× ×××⬠â«×ס׀×××⬠â«××××ת⬠â«×ת×׊×ת⬠â«×ש×ת׀×ת⬠â«×©×⬠â«××ש××× ××ת⬠â«××××× ××תâ¬,â«××©× ×ª×××⬠â«×××××ת⬠â«×©××ש××⬠â«××××× ××ת⬠â«××× ×â¬.
â«×â¬.â«×××׊⬠â«×©×ך×⬠â«××€×š×©× ×××ת⬠â«××ש××⬠â«×ª×§× ××â¬â«×â¬
1.â«××× ×××××⬠â«×ס׀×⬠â«×××××⬠â«×ª×§×â¬)2010(IFRS 9,â«×€×× × ×¡×××⬠â«××ש×ך××â¬)â«××××â¬-"â«×תק×â¬"(.â«××× ×⬠â«××⬠â«×ª×§×â¬â«×ש××××⬠â«×××â¬
â«×ש××× ××ת⬠â«×ª×§×⬠â«×©×⬠â«×××××ת⬠â«×××××€×⬠â«×׀ך××ק×â¬â«××× ×××××â¬IAS 39â«×€×× × ×¡×××⬠â«××ש×ך××â¬:â«××××××⬠â«××ך×â¬)â«××××â¬-
"IAS 39"(â«×⬠â«××××€××¢×ת⬠â«××ך×ש×ת⬠â«×ת⬠â«××××ף⬠â«×××⬠â«××שךâ¬-IAS 39â«×⬠â«×××סâ¬â«×€×× × ×¡×××⬠â«× ×ס××⬠â«×©×⬠â«××××××⬠â«×¡××××â¬
â«×€×× × ×¡××ת⬠â«××ת×××××××תâ¬.â«×תק×⬠â«××ת××â¬,â«×€×× × ×¡×××⬠â«× ×ס××⬠â«××××ת⬠â«×©×⬠â«×¢×קך××ת⬠â«×§×××ך××ת⬠â«×©×ª×⬠â«××©× ×â¬:â«×××€×תת⬠â«×¢××תâ¬
â«×€×× × ×¡×××⬠â«× ×ס××⬠â«×× ××××⬠â«××ש×ת⬠â«×©×⬠â«×עסק×⬠â«×××××⬠â«×¢×⬠â«×ת×סס⬠â«×××⬠â«××ש×ך×⬠â«××××⬠â«×ס××××⬠â«××ס×ס⬠â«××שך⬠â«××××⬠â«×ש×××â¬
â«×××⬠â«×××××× ××⬠â«×ª×ך×××⬠â«×××€××× ×⬠â«××¢×â¬â«××€×× × ×¡×⬠â«×× ×ס⬠â«×©×⬠â«××××â¬.â«×תק×⬠â«××ת××â¬,â«×¢××ת⬠â«××€×⬠â«×ª××××⬠â«×××⬠â«×××ש×ך⬠â«×שקע×â¬
â«×××××× ××⬠â«×ª×ך×××⬠â«×ת⬠â«××××ת⬠â«×× ×ªâ¬ â«×¢×⬠â«× ×ס××⬠â«×××××ק⬠â«×××⬠â«××ש×ת⬠â«×©×⬠â«×עסק×⬠â«×××××⬠â«×©×⬠â«×××ך×⬠â«××⬠â«×××€×תתâ¬
â«×ª×©×××××⬠â«××××××⬠â«×שך⬠â«×¡×€×Š××€×××⬠â«××××¢×××⬠â«××××× ××⬠â«×ת×ך×××⬠â«××××ת⬠â«××׊ך××⬠â«×××××××⬠â«×ª× ×××⬠â«×××⬠â«×©×××⬠â«×××××××â¬
â«×§×šâ¬ â«×©×â¬â«××××⬠â«×ך×××ת⬠â«×â¬.â«××â¬â«××××⬠â«× ×ס×â¬â«××××⬠â«×©×××⬠â«××€×⬠â«×××××⬠â«×××ך××â¬â«××׀ס×⬠â«×š×××⬠â«×ך×â¬.â«×× ×סףâ¬,â«××⬠â«×ש××׊××⬠â«× ××ך××â¬
â«×€×× × ×¡×⬠â«× ×ס⬠â«×©×××⬠â«××ך×⬠â«××××⬠â«×××××××⬠â«××¢×ך×××⬠â«××××××⬠â«××תך⬠â«××׀ך×××â¬.â«××ת⬠â«××ק××â¬,â«××××⬠â«××××⬠â«×××¢×ך×⬠â«×××××â¬
â«×××¢××⬠â«×קך××ך××× ××⬠â«××ת××⬠â«×¡××××⬠â«×׊×ך×â¬.â«××⬠â«×××â¬,â«××× â¬ â«×××ש×ך××⬠â«×שקע×â¬â«××שך⬠â«××××⬠â«×©×××⬠â«××€×⬠â«×ª××××⬠â«×××â¬
â«××׀ס×⬠â«×ך×××⬠â«××ק׀×⬠â«×××××⬠â«×ש×××⬠â«×ש×× ××××â¬.â«××ת⬠â«×¢×⬠â«×××â¬,â«××× ×⬠â«×××ש×ך⬠â«×ך×ש×× ×ת⬠â«×××ך×⬠â«×עת⬠â«××׀שך⬠â«×תק×â¬
â«××ס×ך⬠â«××××ק⬠â«×©××× ×â¬,â«×ש×××⬠â«×©×× ××××⬠â«××׊××⬠â«××××ךâ¬â«×â¬â«××שך⬠â«×××ך⬠â«×××××⬠â«×ך×××⬠â«××ס×ךת⬠â«×××× ×⬠â«×××ש×ך⬠â«×©×⬠â«××××â¬
â«×ס⬠â«××⬠â«×××ך⬠â«×××××⬠â«×ך×××⬠â«×©××ק׀×⬠â«×ס×××××â¬â«××׀ס×⬠â«×ך×××⬠â«××¢×××⬠â«××××â¬.â«××× ×××⬠â«××ש×ך××⬠â«×¢×⬠â«×××××× ×××â¬
â«×××ך⬠â«×××××⬠â«×ך×××⬠â«× ×ק׀××⬠â«×©×××⬠â«×©×שעך××××â¬,â«×××ך⬠â«××××ק⬠â«××××€×⬠â«××××××⬠â«××⬠â«××⬠â«×××⬠â«××׀ס×⬠â«×ך×××⬠â«×××ך×â¬
â«×š×ש×× ×ת⬠â«×שקע×â¬.
â«×€×× × ×¡××ת⬠â«×ת×××××××ת⬠â«×©×⬠â«××××××⬠â«×ס××××⬠â«××ת×××ס×ת⬠â«×××ך××ת⬠â«×ת⬠â«××××⬠â«×©×ך⬠â«×תק×â¬,â«×⬠â«×©×××€××¢×⬠â«××€×â¬-IAS
39.â«××ת⬠â«×¢×â¬,â«×⬠â«×ש×× ×â¬-IAS 39,)2010(IFRS 9â«×©×⬠â«×××××⬠â«×ש×××⬠â«×ש×× ××⬠â«×¡×××⬠â«××⬠â«××××⬠â«××ךשâ¬â«××ת×××××××תâ¬
â«××׀ס×⬠â«×š×××⬠â«×ך×⬠â«××××⬠â«×ש×××⬠â«×©×××¢××⬠â«×€×× × ×¡××תâ¬,â«×€×× × ×¡××ת⬠â«×¢×š××ת⬠â«×××××⬠â«××××××⬠â«××ת×⬠â«××××××××ת⬠â«×××¢×â¬,â«×××××סâ¬
â«××ך⬠â«××××⬠â«×ך×××⬠â«×××ך×⬠â«××ת×××××ת⬠â«×©×⬠â«××שך××⬠â«×ס××××⬠â«×ש×× ××××â¬,â«×ת⬠â«××שךâ¬â«××׀ס×⬠â«×ך×××⬠â«×ª××ך⬠â«×ס×××⬠â«×š×ªâ¬.
â«××××â¬,â«×ש××× ××ת⬠â«×ת×××⬠â«×××סך⬠â«××××ך×⬠â«××××⬠â«××××ך⬠â«×€×׊××⬠â«××â¬)accounting mismatch(â«××׀ס×⬠â«×ך×××â¬,
â«××׀ס×⬠â«×ך×××⬠â«×××ך⬠â«×××××⬠â«×ש×××⬠â«×ש×× ××⬠â«××⬠â«×××â¬.
- 20. "â«×שך××ק×â¬-â«× ××â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬
â«×â¬â«××××⬠â«××× ×××⬠â«××ס׀×××⬠â«×××××ת⬠â«×ת×׊×ת⬠â«××ך××â¬30â«×ס׀×××ךâ¬2010)â«×××קך××⬠â«××ת×â¬(
9
â«×××ךâ¬3-â«××ש××× ××ת⬠â«××××× ××ת⬠â«×¢×קך×â¬)â«××ש×â¬(
â«×â¬.â«×××׊×⬠â«×©×ך×⬠â«××€×š×©× ×××ת⬠â«××ש××⬠â«×ª×§× ××â¬)â«××ש×â¬(
1.)â«××ש×â¬(
â«×¡â¬â«××׀ס×⬠â«×ך×××⬠â«××¢×××⬠â«×ס××××⬠â«××⬠â«××ך⬠â«××××⬠â«×ך×××⬠â«×©×××ך×⬠â«×××××â¬.â«×©×ת×ך⬠â«××ך××⬠â«×ת⬠â«××××⬠â«××⬠â«×××ש⬠â«×תק×â¬
â«×××××⬠â«×©××××⬠â«×ת⬠â«×××××⬠â«× ×ת×⬠â«×©××⬠â«×׊×××⬠â«××⬠â«××× ×⬠â«×××ש×ך⬠â«×קש×ך××⬠â«×ת×××××××ת⬠â«×©××⬠â«× ××ך××⬠â«××¢××ת⬠â«×××××â¬
â«×××××⬠â«××××€×â¬,â«×××⬠â«××ש×ך⬠â«×ס×ךת⬠â«×××⬠â«×¢×⬠â«×ס×ק×⬠â«×ש×שâ¬.â«×⬠â«×ש×××⬠â«××××××⬠â«×××⬠â«× ××ך××â¬â«×××â¬.
â«××××⬠â«××ת××××ת⬠â«×©× ת××ת⬠â«×תק××€×ת⬠â«×××ש×⬠â«×תק×â¬1â«××× ××ךâ¬2013â«×××⬠â«×××ך⬠â«××â¬.â«××תך⬠â«××ק××⬠â«××ש××â¬,â«××ת×⬠â«×××€××£â¬
â«××ª×§× ×⬠â«×ת×ק×× ××⬠â«×©×⬠â«××ק×××⬠â«×××××ץ⬠â«×××€×ף⬠â«×××⬠â«×××××â¬IFRSâ«××ך××â¬,â«×תק×⬠â«×× ×¡×€×⬠â«×××€×ך×××â¬.â«××עש×⬠â«×תק×⬠â«××ש××â¬
â«×â¬â«×ך×â¬â«××׀ךע⬠â«××ש××⬠â«×©×â¬,â«×ס××××ת⬠â«×ק××ת⬠â«×××¢×â¬,â«×⬠â«×××ך××ת⬠â«××ת××â¬â«×תק×⬠â«×××€×ך××ת⬠â«××¢×ךâ¬.â«×׀ך×â¬,â«×ש×ת⬠â«××â¬
â«×××⬠â«××€× ×⬠â«×תק×⬠â«×ת⬠â«×××ש×⬠â«×××ךתâ¬1â«××× ××ךâ¬2012â«×ש××××⬠â«×ס׀ך×⬠â«×××ש⬠â«××׊××⬠â«× ×ךשת⬠â«××× × ×⬠â«×××â¬.
â«××ס׀×××⬠â«×××××ת⬠â«×¢×⬠â«×תק×⬠â«××××ץ⬠â«×©×⬠â«××ש×××ת⬠â«××××× ×ªâ¬ â«××××⬠â«×ך×⬠â«×ש×ת׀×תâ¬.
2.â«××ס×ךתâ¬â«×€×š××ק×â¬â«×ש××€×ך××â¬â«×תק×× ×â¬â«×××× ×××××תâ¬â«××©× ×ªâ¬2010)Improvements to IFRSs(,â«×€×š×¡×â¬â«×××שךâ¬â«×â¬-
IASBâ«××××â¬201011â«×ª×ק×× ××â¬â«××ª×§× ×â¬â«×××××â¬â«×ס׀×â¬â«××× ×××××××â¬â«×××€×š×©× ×תâ¬â«××תâ¬â«××××××â¬â«×¡××××תâ¬â«×ש××× ×××תâ¬.â«×ך××תâ¬
â«×ת×ק×× ××â¬â«×××××â¬â«×תק××€×תâ¬â«×©×ת××××תâ¬â«××××â¬1â«××× ××ךâ¬2011â«××××ך××â¬,â«×¢×â¬â«×׀שך×תâ¬â«××××××¥â¬â«××ק××â¬,â«×××€××£â¬â«××ª× ×××â¬
â«×××€×ך×××â¬â«×¢××ךâ¬â«××â¬â«×ª×ק××â¬.
â«××××â¬â«×€×ך××â¬â«×â¬â«×ª×ק×× ××â¬,â«×שךâ¬â«×¢×©××××â¬â«××××תâ¬â«×š×××× ××××â¬â«×ק××׊×â¬â«××שךâ¬â«×¢×©×××â¬â«××××תâ¬â«×××â¬â«×ש׀ע×â¬â«×¢×â¬â«×××××תâ¬
â«××ס׀×××â¬â«×××â¬â«×××׊×â¬â«××××××¥â¬â«××ק××â¬:
ï·ï â«×ª×ק××â¬â«×â¬-34IAS,â«×××××â¬â«×ס׀×â¬â«×תק××€×תâ¬â«××× ×××â¬,â«××ך××¢××â¬â«×עסק××תâ¬â«×ש××¢×ת×××â¬)â«××××â¬â"â«×ת×ק××â¬("â
â«××ת××â¬â«×ת×ק××â¬,â«××ך×××â¬â«×š×©××תâ¬â«×××ך××¢××â¬â«××עסק××תâ¬â«××׊ך×××â¬â«×â¬â«×××××××â¬â«×××××תâ¬â«×ס׀×××â¬â«×תק××€×תâ¬
â«××× ×××â¬,â«×××××תâ¬â«××ך×â¬â«××׀ס×â¬â«××ך××תâ¬â«×¢×š×â¬â«×©×â¬â«× ×ס××â¬â«×€×× × ×¡××â¬â«×ש×× ×××â¬â«×¡××××â¬â«×©×â¬â«× ×ס××â¬â«×€×× × ×¡×××â¬â«×ת×׊××â¬
â«×ש×× ××â¬â«××××¢×××â¬â«××â¬â«×ש×××ש×â¬.â«×××â¬â«××â¬,â«××ש××â¬â«×¡×£â¬â«××××ת××תâ¬â«××ך×ש×תâ¬â«××××××â¬â«×××× ××××××תâ¬â«×ק××××תâ¬
â«×תק×â¬â«×× ××××â¬,â«××€× ×â¬â«×ת×ק××â¬.â«×ת×ק××â¬â«××××â¬â«×¢×â¬â«×ª×§â¬â«××€×תâ¬â«×©× ת××תâ¬â«××ת××××תâ¬â«××××â¬1â«××× ××ךâ¬2011â«××â¬â«×××ךâ¬
â«×××â¬.â«××ש××â¬â«××ק××â¬â«×׀שך×â¬â«×ª××â¬â«×ת×â¬â«×××××â¬.
ï·ï â«×ª×ק××â¬â«×â¬-1IAS,â«×׊×תâ¬â«××××תâ¬â«×ס׀×××â¬,â«×׊×תâ¬â«×××â¬â«×¢×â¬â«×ש×× ××××â¬â«××××â¬â«×ע׊××â¬)â«××××â¬â"â«×ת×ק××â¬("ââ«××ת××â¬
â«×ת×ק××â¬,â«×שâ¬â«××׊××â¬â«××ס×ךתâ¬â«××××â¬â«×¢×â¬â«×ש×× ××××â¬â«××××â¬â«×ע׊××â¬,â«×××â¬â«×š×××â¬â«×©×â¬â«××××â¬â«×ע׊××â¬,â«×ת×××â¬â«×××â¬â«×עך×â¬
â«×ס׀ך××â¬â«×ת×××תâ¬â«×תק××€×â¬â«××××â¬â«×עך×â¬â«×ס׀ך××â¬â«×ס××€×â¬,â«×ª××â¬â«×××××â¬â«× ׀ך×â¬â«×××â¬â«×©×× ××â¬â«×ת×׊××â¬â«×ך×××â¬â«××â¬â«×׀ס×â¬,
â«×š×××â¬â«××××â¬â«××ךâ¬â«×עסק××תâ¬â«×¢×â¬â«××¢×××â¬â«××ס×ךתâ¬â«×ª×€×§×××â¬â«×××¢×××â¬.â«×××â¬â«××â¬,â«×שâ¬â«××׊××â¬â«×תâ¬â«××ת×××â¬â«××××ךâ¬
â«×××â¬â«×š×××â¬â«×©×â¬â«×š×××â¬â«××××â¬â«××ךâ¬â«××ס×ךתâ¬â«××××â¬â«×¢×â¬â«×ש×× ××××â¬â«××××â¬â«×ע׊××â¬â«××â¬â«×××××ך××â¬.â«×ת×ק××â¬â«××××â¬â«×¢×â¬
â«×ª×§××€×תâ¬â«×©× ת××תâ¬â«××ת××××תâ¬â«××××â¬1â«××× ××ךâ¬2011â«××â¬â«×××ךâ¬â«×××â¬.â«××ש××â¬â«××ק××â¬â«×׀שך×â¬â«×ª××â¬â«×ת×â¬â«×××××â¬.
â«×â¬.â«××××€××⬠â«×שעך×⬠â«×××××â¬
â«××ש×××⬠â«×תק××€×ת⬠â«××××ך⬠â«×©×⬠â«×××××€××⬠â«××שעך⬠â«×׊ך××⬠â«××××ך××⬠â«××××⬠â«×©×××⬠â«×ש×× ××⬠â«×©××¢×ך×⬠â«××××â¬:
â«×â¬â«××××ך××⬠â«××â¬â«×××××€××⬠â«×©×¢×šâ¬
â«×׊â¬â«×š××â¬â«××××ך⬠â«×©×â¬
%%
â«×××ש××⬠â«×ª×©×¢×⬠â«×©×⬠â«×תק××€×⬠â«×ש×× ××â¬:
â«×©×סת××××â¬â«××××â¬30â«×ס׀×××ךâ¬20101.62)2.91(
â«×©×סת××××â¬â«××××â¬30â«×ס׀×××ךâ¬20093.62)1.16(
â«×ש×× ××â¬â«×××ש××⬠â«×©××ש×⬠â«×©×⬠â«×תק××€×â¬:
â«×©×סת××××â¬â«××××â¬30â«×ס׀×××ךâ¬20101.23)5.42(
â«×©×סת××××â¬â«××××â¬30â«×ס׀×××ךâ¬20092.44)4.11(
â«×©â¬ â«××©× ×â¬â«×â¬â«××××⬠â«×¡×ª××××â¬31â«××׊××ךâ¬20093.82)0.71(
- 21. "â«×שך××ק×â¬-â«× ××â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬
â«×â¬â«××××⬠â«××× ×××⬠â«××ס׀×××⬠â«×××××ת⬠â«×ת×׊×ת⬠â«××ך××â¬30â«×ס׀×××ךâ¬2010)â«×××קך××⬠â«××ת×â¬(
10
â«×××ךâ¬4-â«× ×סף⬠â«××××¢â¬
â«×â¬.1.â«××××ך⬠â«××××ך⬠â«×××ש×â¬8â«××©× ×ª×××⬠â«××ס׀×××⬠â«×××××תâ¬,â«×××ך⬠â«×€×ת××⬠â«×©×⬠â«×××××ת⬠â«××¢××ת⬠â«×××××â¬"â«×ª×ךâ¬",â«×שךâ¬
â«× ×××⬠â«×××⬠â«×¢×⬠â«× עך×â¬,â«×⬠â«×©×⬠â«×ס×⬠â«×סת××â¬-3â«×××ך⬠â«×××××ך×â¬)â«×¢××ךâ¬100%â«×××××××תâ¬.(â«××â¬â«×ת×סס⬠â«××××â¬,â«××תך⬠â«×××â¬
â«×¢×â¬â«××€××⬠â«×Š×× ×ך⬠â«×©×⬠â«××ת×××⬠â«×€×ת××â¬,â«×׀ק×⬠â«××€×××€×ך×ת⬠â«××ש××⬠â«××××¢×⬠â«×××⬠â«×××ך×⬠â«××â¬,â«×ס×××⬠â«×©×ª×ק×â¬
â«×€×š××ק×⬠â«×©×⬠â«×ק×××ת⬠â«××€×××€×ך××â¬"â«×ª××ס⬠â«××â¬"â«×©×⬠â«×ק×××⬠â«×ק×××⬠â«××תק×⬠â«×ק×××ת⬠â«××Š× ×š×ªâ¬ â«×××⬠â«×××ך×⬠â«×××× ×â¬
â«××ש×××⬠â«×ª××ס⬠â«××⬠â«×€×š××ק×â¬,â«×××⬠â«×§×××ת⬠â«×׊×ך×⬠â«×©××ך××â¬.â«×⬠â«×ª××× ×ת⬠â«××⬠â«××××ךâ¬â«×ך×⬠â«×××××⬠â«×תק׊×××⬠â«×€×ת××â¬
â«××€×ת××⬠â«×ª×§×Š××⬠â«×©×⬠â«××××⬠â«××עך××ת⬠â«××××ך⬠â«××⬠â«×ש××⬠â«×××⬠â«×ש×ת׀××⬠â«××⬠â«×××⬠â«×¢×⬠â«××שך×â¬,â«×§××ת⬠â«××⬠â«××××××⬠â«×שךâ¬
â«××××ת⬠â«×¢××××â¬.â«××⬠â«×××××⬠â«×ת××â¬,â«××⬠â«×××⬠â«×¢×⬠â«××שך×â¬â«××××¢×⬠â«×××⬠â«×©××⬠â«×€×ת××⬠â«×׀ך××ק×⬠â«×ש×ת׀××â¬"â«×ª×ךâ¬"â«×¢×â¬
â«××⬠â«×××⬠â«××ש×ך⬠â«××××¢×â¬,â«×⬠â«×ש×ך×ת××⬠â«×Š×××⬠â«×ך××שת⬠â«×תקשך×××תâ¬â«××××⬠â«×ס×××⬠â«××××ך⬠â«×××⬠â«×©××⬠â«×€×ת××â¬)100%(,
â«×××קףâ¬â«×⬠â«×©×â¬-967â«×××ך⬠â«××××××â¬,â«×ש×ך×ת××⬠â«×׊×××⬠â«××¢×קך⬠â«××ת×××ס×תâ¬)â«×¢××××ת⬠â«×××׊×ע⬠â«×§××××⬠â«×ס×ת⬠â«××××â¬
â«×ª×ך⬠â«×ש××⬠â«××€×ת××â¬(â«××©× ××⬠â«×××××⬠â«××ס×׀ק×⬠â«×¡×׀ק×⬠â«××שך⬠â«×ך××⬠â«×ס׀קת×⬠â«×©×××â¬2011-2009.
2.â«××××â¬19â«××€×ך××ךâ¬2010,â«×××⬠â«××⬠â«×ש×ת׀×ת⬠â«××××××â¬â«×ע⬠â«×ך××⬠â«××⬠â«×ª×× ×ªâ¬"â«×¡×××ק×⬠â«×ª×¢×©××ת⬠â«×××⬠â«×ס⬠â«×××⬠â«×â¬
â«×ע⬠â«××××× ×â¬"â«×â¬)â«××××⬠â«××××â¬-â«×ק×× ××â¬(â«×ק××××××⬠â«×ש×ת׀××⬠â«××××â¬,â«×ק×× ××⬠â«×ך×ש×⬠â«××€××⬠â«×××× ×ת⬠â«××ת×â¬
â«××ק××⬠â«×ק×× ××⬠â«×תע×××⬠â«××ת×⬠â«××⬠â«×ª×× ×ªâ¬ â«××€×¢×ת⬠â«×׊ך××⬠â«×××¢×⬠â«××⬠â«××ק××××××â¬)â«××××â¬-â«×××⬠â«×ª×× ×ªâ¬(â«×××â¬
â«××ך××⬠â«×ק×× ××⬠â«××€×¢×⬠â«×׊ך××â¬.â«××××× â¬ â«×××ת×⬠â«××ת××â¬â«×תâ¬,â«××××⬠â«×××קף⬠â«×××¢×⬠â«××⬠â«×ך××ש⬠â«×ק×× ××⬠â«×Š×€××××â¬
â«××⬠â«×××עך×⬠â«××× ××××â¬-BCF100)â«×â¬-BCM2.8(,â«×©×ע⬠â«×©×⬠â«×ª×§××€×⬠â«××ש×⬠â«×××תâ¬-â«×©× ××⬠â«×¢×©×š×â¬.â«××⬠â«×××â¬,
â«×׀ך××ק×××⬠â«×ק×× ××⬠â«×××⬠â«×¢×⬠â«××⬠â«×©×⬠â«× ×ס׀×ת⬠â«×××××ת⬠â«×ך××שת⬠â«×ª× ×××⬠â«×¢×⬠â«××××× ×ת⬠â«×××ת×⬠â«×׊××××⬠â«×ס××××â¬
â«×ק×× ××⬠â«×©×⬠â«× ×ס׀××⬠â«×€××× ×Š××××××â¬)â«××××â¬-â«×׀ךâ¬â«×× ×ס׀××⬠â«××ק×××â¬.(â«××××× ×ת⬠â«××ת×⬠â«×€×⬠â«×¢×â¬,â«×שך⬠â«××⬠â«×××תâ¬
â«×ך××ש⬠â«×š×©×××⬠â«×ק×× ××â¬ââ«××€××¢×⬠â«×ª×ק×ע⬠â«××שךâ¬,â«××תך⬠â«×××â¬,â«×©××ק××⬠â«×× ×ס׀××⬠â«×׀ך××ק×××⬠â«×××קף⬠â«××ת××â¬
â«××€××¢×â¬,â«××××⬠â«×ª×× ×ªâ¬ â«×©×⬠â«××€×¢×××ת⬠â«×שע×תâ¬,â«×× ×ס׀××⬠â«××׀ך××ק×××⬠â«×××⬠â«×ת×× ×ªâ¬ â«×××⬠â«×Š×š××תâ¬ââ«××××ת⬠â«×¢×©×××â¬
â«××תך⬠â«×××××â¬)â«×⬠â«×¢×⬠â«×©×⬠â«×ש××¢×ת×⬠â«×××קףâ¬â«××¢××⬠â«×××€×ך×ת⬠â«×××××ת⬠â«×©× ×××⬠â«××€×⬠â«××¢××â¬.(
â«×⬠â«×©×⬠â«×××קף⬠â«×××⬠â«××××ךת⬠â«×××× ×¡×תâ¬âBCF100â«×ª×ך⬠â«×׀ך××ק×⬠â«×ש×ת׀××⬠â«×××⬠â«×¢×⬠â«××××⬠â«××עך××ת⬠â«××××ךâ¬
â«××â¬-0.5â«×××ך⬠â«×××××ך×â¬)â«×⬠â«×××סâ¬-100%â«×ª×ך⬠â«×׀ך××ק×⬠â«×××××××תâ¬.(â«××××××⬠â«×××ך×⬠â«××€××¢×⬠â«×××× ×¡×ת⬠â«××⬠â«××××ךâ¬
â«×©×â¬â«××¢××⬠â«××××ך××⬠â«×××⬠â«×ך××ת⬠â«××ך×××â¬,â«×××ךâ¬â«××¢××⬠â«×× ×š×××⬠â«×â¬.â«×××××× ×ת⬠â«×××××⬠â«××ת×⬠â«××× ×⬠â«××××× ×ת⬠â«××ת×â¬
â«×קך××××⬠â«××××ש××⬠â«×××××⬠â«×ס׀ק×⬠â«××××⬠â«×¢×⬠â«××ת××⬠â«×××ך×⬠â«×××¢××⬠â«××ת×⬠â«×ש×⬠â«×× ××⬠â«×׊××××â¬.
3.â«××××â¬22â«××€×ך××ךâ¬2010,â«×¢×§×š×× ×ת⬠â«××ס××⬠â«×ש×ת׀×ת⬠â«×תקשך×â¬)Term Sheet(â«×ך⬠â«×× ×§××⬠â«×ª××××⬠â«×¢×â¬,
â«×× ×§â¬ â«××××ש×â¬)â«××××â¬" :â«××× ×§â¬(",â«×⬠â«×Š×€××⬠â«×€××⬠â«×¢×â¬â«××€×ת××⬠â«×שקעת×⬠â«×׊×ך×⬠â«××ש×ך⬠â«×××××ת⬠â«×ש×ת׀×ת⬠â«×××¢×××⬠â«×× ×§â¬
â«×€×š××ק×â¬"â«×ª×ךâ¬",â«×¢×⬠â«×©×⬠â«×ס×××â¬350â«×××ך⬠â«×××××× ×â¬,â«×©×⬠â«×תק××€×â¬36â«××ס××⬠â«×©× ק××¢×⬠â«×××ª× ×××⬠â«×××ש××â¬
â«×עקך×× ×תâ¬)â«××××â¬" :â«×××ש×ך⬠â«×××××תâ¬.("â«×××××ת⬠â«×××¢××ת⬠â«×××××⬠â«××ת×⬠â«××× ×⬠â«×עקך×× ×ת⬠â«×ס××⬠â«××⬠â«××××ךâ¬
â«××××××⬠â«×ס××⬠â«××ת××ת⬠â«××€××€×⬠â«×××ש×ךâ¬â«×׊××××⬠â«×××⬠â«××××××⬠â«××€×ך×â¬.â«×××¢××⬠â«××ת×⬠â«×ש×⬠â«×× ×××⬠â«×׊××××â¬
â«××××⬠â«××××ך⬠â«××⬠â«×¢×⬠â«×××××⬠â«×ס××⬠â«×¢×⬠â«××ת××⬠â«×××ך×â¬15â«××××â¬2010.â«×¢×⬠â«×××× ×§â¬ â«×ש×ת׀×ת⬠â«×ת××⬠â«××⬠â«×××â¬
â«×€××⬠â«×¢×⬠â«×תקשך×ת⬠â«××ת×â¬,â«××××ך×⬠â«×××ש×ך⬠â«×××××ת⬠â«×××¢××ת⬠â«×××××⬠â«××××××⬠â«×ס××⬠â«××ת××ת⬠â«×××€××£â¬,â«××¢× ×קâ¬
â«××ך×⬠â«×××¢×ץ⬠â«×©×ך×ת×⬠â«×ש×ת׀×ת⬠â«××× ×§â¬â«×€×× × ×¡×⬠â«××â¬,â«×××¢××⬠â«××××€×â¬,â«×©×⬠â«×ª×§××€×⬠â«××ש×â¬36â«×××ש××â¬,â«××××⬠â«××ש×תâ¬
â«×€×š××ק×⬠â«××€×ת××⬠â«×©×××ךש⬠â«××××××â¬"â«×ª×ךâ¬",â«××תקשך×ת⬠â«×××ת×⬠â«×©× ק××¢×⬠â«××ª× ×××â¬.â«×¡××××⬠â«××⬠â«××ס×ךתâ¬
â«×¢×⬠â«×©×⬠â«×ס×××⬠â«× ×ס׀ת⬠â«××××××⬠â«××××ס⬠â«×קך××××⬠â«××××ש××⬠â«××ך⬠â«××€×¢××⬠â«×׊××××â¬400â«×××ך⬠â«×××××× ×â¬.â«×§××תâ¬
â«×⬠â«××⬠â«××€××€×⬠â«××ת×⬠â«××××ך⬠â«××××××â¬â«××××⬠â«×©×תק××⬠â«××× ×¡×⬠â«×ס⬠â«× ׊×××ת⬠â«××ש×ךâ¬25â«××ךסâ¬2010â«××תך⬠â«××€××â¬
â«×ש×ת׀×תâ¬)â«×§××××××⬠â«××ק⬠â«×ש×ת׀×ת⬠â«××× ×šâ¬ â«×©×ת׀×ת⬠â«×¢×⬠â«×××â¬(â«×ª×ך⬠â«×׀ך××ק×⬠â«××שקע×ת⬠â«××ק×⬠â«×ת⬠â«××××â¬
â«×⬠â«××××××ת⬠â«×××׊ע×תâ¬/â«××⬠â«×× ×€×§×ªâ¬ â«××â¬"â«×⬠â«××××ך⬠â«×× ×ךש⬠â«×©××××××⬠â«××××⬠â«×××ת⬠â«×â¬/â«×©×ª×׊ע⬠â«××שקע×ת⬠â«××â¬
â«×⬠â«××¢×××⬠â«×ת⬠â«×ש×××⬠â«×׀ך××ק×⬠â«×ש×ת׀×תâ¬"â«×©×תâ¬â«×€×תâ¬"â«××ª×§× ×ת⬠â«××ש××¢×ת×â¬.â«×× ×סףâ¬,â«×׊ך××⬠â«×××ך×⬠â«×××€×⬠â«× ק××¢â¬
â«×××׊××ת⬠â«×©×⬠â«×סâ¬,â«××ª×§× ×⬠â«×× ×ת⬠â«××׊×ך×⬠â«×××׀ק×⬠â«××€×ת××⬠â«×§×××××⬠â«×¢×⬠â«×קשך⬠â«×ש×ת׀×ת⬠â«×ת×׊××⬠â«××׊×××⬠â«×שךâ¬
â«×××׀ק×⬠â«××××××â¬)â«×××⬠â«×ך×××××⬠â«×ש×⬠â«××××××⬠â«××׊××ת⬠â«××××ס⬠â«×ך××תâ¬(â«×××ש×ך⬠â«×××€×ך×⬠â«××××â¬.
â«××××â¬16â«×××× ×â¬2010â«××⬠â«×ש×ת׀×ת⬠â«××××××â¬â«××⬠â«×ת⬠â«×××ש⬠â«×¡××××⬠â«×ך×⬠â«××׊××××⬠â«×××××â¬â«×ס×××â¬â«××××××⬠â«×ס××â¬,
â«×××××⬠â«×××××⬠â«×ס××⬠â«××ת××ת⬠â«××××ש⬠â«×׊×ך×⬠â«××××ך⬠â«×©× ק׊××⬠â«×תק××€×⬠â«×ת⬠â«×××ך××⬠â«×××⬠â«×¢×⬠â«××ס××â¬,â«××××⬠â«×¢×â¬
31â«×××××ס×â¬2010.
â«××××â¬1â«×ס׀×××ךâ¬2010,â«×תק××€×⬠â«××××¢×××ת⬠â«×ª×§×׀ת⬠â«×××ך×ת⬠â«××קש×⬠â«××××⬠â«×€× ×⬠â«××× ×§â¬ â«××⬠â«×ש×ת׀×ת⬠â«××××××â¬
â«× ×ס׀תâ¬,â«×××תâ¬,â«××תך⬠â«×××â¬,â«×תק×⬠â«××ק×ת⬠â«××× ×××⬠â«×ת×× ××⬠â«××ך׊×ת⬠â«×××ע׊×⬠â«×××ש×ך⬠â«××¢××××⬠â«×ש×⬠â«××⬠â«×××¢× ×â¬
â«×× ×××¢×ת⬠â«××××ק×ת⬠â«×ש××ת⬠â«×׊×ך×⬠â«× ×ס׀ת⬠â«×ª×§××€×⬠â«××× ×§â¬ â«× ×ךשת⬠â«××€×ת××⬠â«×ª×× ×ת⬠â«×ש×× ××⬠â«×××שת×⬠â«×ק××××â¬
â«×××â¬.â«××ת××â¬,â«××××⬠â«×¢×⬠â«×ª××ך×⬠â«××××¢×××ת⬠â«×ª×§×׀ת⬠â«××⬠â«×ס×××⬠â«××××⬠â«×××× ×§â¬ â«×ש×ת׀×ת⬠â«××××¢×â¬30â«×××ק×××ךâ¬
2010.
â«××××××⬠â«×××¢×⬠â«×××ךâ¬,â«××××â¬1â«×× ××××ךâ¬2010,â«× ××⬠â«×שך××ק×⬠â«××××××â¬2â«×××ך×ת⬠â«××קש×⬠â«××××⬠â«×€× ×⬠â«××× ×§â¬ â«××â¬
â«××€×ת××⬠â«×ª×× ×ת⬠â«×¢×⬠â«×קשך⬠â«××××ק×ת⬠â«×ש××ת⬠â«×׊×ך×⬠â«×××ת⬠â«× ×ס׀ת⬠â«×תק××€×⬠â«××⬠â«×©×××¢× ×§×⬠â«××××¢×××ת⬠â«×ª×§×׀תâ¬
â«×⬠â«×ש×××××⬠â«×××ª×§× ××⬠â«×ש×××ש⬠â«×× ×××¢××⬠â«××ס×ך××⬠â«×ך××ת⬠â«××××ך⬠â«×©×⬠â«×××׊עתâ¬"â«×ª××ס⬠â«××â¬"â«×××â¬â«×ש×ת׀×תâ¬
â«××××⬠â«×¢×⬠â«×ª××ך×⬠â«××××ך×⬠â«××××¢×××ת⬠â«×ª×§×׀ת⬠â«××⬠â«×ס×××⬠â«××××⬠â«××××¢×⬠â«×××× ×§â¬31â«××׊××ךâ¬2010.
- 22. "â«×שך××ק×â¬-â«× ××â¬2"â«×××××ת⬠â«×©×ת׀×תâ¬
â«×â¬â«××××⬠â«××× ×××⬠â«××ס׀×××⬠â«×××××ת⬠â«×ת×׊×ת⬠â«××ך××â¬30â«×ס׀×××ךâ¬2010)â«×××קך××⬠â«××ת×â¬(
11
â«×××ךâ¬4-â«× ×סף⬠â«××××¢â¬)â«××ש×â¬(
â«×â¬.)â«××ש×â¬(
4.â«××××⬠â«×תק×׀תâ¬â«××⬠â«×ש×ת׀×ת⬠â«××××××â¬Noble Energy Meditterranean Ltd.)â«××××â¬-â«× ×××â¬(,â«××€×¢××תâ¬â«××קתâ¬
â«×ª×ךâ¬,â«×ש×ת׀××⬠â«×××××¢×â¬â«××⬠â«×ª×ך⬠â«×××קתâ¬â«×§×××â¬â«×××ךתâ¬Netherland, Sewell and Associates, Inc.
)â«××××â¬" :NSAI("â«×××¢×ץ⬠â«××ךת⬠â«×©××× ×â¬â«×× ×ס×תâ¬â«×××⬠â«× ×€×⬠â«×××ך×⬠â«×©×⬠â«×ך×ך××ת⬠â«×¢×ª×××ת⬠â«×עך×ת⬠â«××׊×ע⬠â«×ת×××â¬
â«×××¢×â¬,â«×××â¬â«×××¢×××â¬â«×תâ¬â«×š×ך××תâ¬â«×××â¬â«××××¢×â¬â«×ש××â¬â«×ª×ךâ¬.â«×××ש×⬠â«×©×תק×××⬠â«×ª×׊××ת⬠â«×עק××ת⬠â«××׊ע⬠â«××¢××××â¬
â«××׊××⬠â«××׀ך×⬠â«×ק××××××⬠â«××׊××⬠â«× ×ת××â¬â«××××¢×× ××⬠â«× ×ת××â¬)Cores(â«×§××××⬠â«×××××⬠â«×©××׊××â¬"â«×ª×ךâ¬2."
â«×©×⬠â«××××⬠â«××ת××â¬NSAI,â«×š×ך××תâ¬â«×××â¬â«××××¢×â¬â«×ש××â¬â«×ª×ךâ¬â«×ק×××ך×תâ¬C2)Contingent Gas Resources(
â«××⬠â«××עך××תâ¬-TCF8.7)BCM247(â«×ª×ך⬠â«×ש××⬠â«××€×ת××⬠â«×ª××× ×ת⬠â«×©×⬠â«××ש×ך×⬠â«××¢×â¬)â«×Š×€×⬠â«××⬠â«×ª××××⬠â«×שךâ¬
â«××ש××⬠â«×©××׀ק⬠â«××××¢×⬠â«×××⬠â«××××ךת⬠â«×¡××ךâ¬(â«×ק×××ך×ת⬠â«×ª×¡×××× ×⬠â«××â¬P2)Proved + Probable Reserves(,
â«×××תâ¬â«××¢××תâ¬â«×â¬-TCF7.7)â«×â¬-BCM218(â«×©×××××â¬â«××××â¬â«×§×××â¬)â«×××××â¬â«×©×â¬â«×â¬-13%.(â«×š×ך××תâ¬â«×××â¬â«×× â¬"â«×â¬
â«×××××תâ¬â«×š×ך××תâ¬â«××â¬â«×ק×××ך×תâ¬C1)Proved Reserves(,â«×××קףâ¬â«×©×â¬â«×â¬-TCF6.5)â«×â¬-BCM184(â«×â¬â«××תâ¬â«×¢×â¬
â«××€×ת××⬠â«×ª××× ×ת⬠â«×©×⬠â«××ש×ך×â¬)â«×שâ¬â«××ש××⬠â«×©××׀ק⬠â«××××¢×⬠â«×××⬠â«××××ךת⬠â«×¡××ך⬠â«×Š×€×⬠â«××⬠â«×ª××××⬠â«×šâ¬(â«×ª×¡×××× ×⬠â«××â¬
â«×ק×××ך××תâ¬P1)Proved Reserve(,â«×⬠â«××¢××ת⬠â«×××תâ¬-TCF6)â«×â¬-BCM170(â«×§×××⬠â«××××⬠â«×©×××××â¬)â«×©×⬠â«×××××â¬
â«×â¬-8%.(
â«××⬠â«×××â¬,â«×¢×××× ×â¬NSAIâ«××××¢×⬠â«×××⬠â«×¢×ª×××ת⬠â«×©×⬠â«××××××⬠â«××€××× ×Š×××⬠â«×××׊ע⬠â«×תâ¬)Gross Mean Resources(
â«×ªâ¬ â«×ש××â¬â«××⬠â«×ךâ¬TCF-8.4)â«×â¬-BCM238(,â«×⬠â«××¢××ת⬠â«×××תâ¬-TCF7.3)â«×â¬-BCM207(,â«×§×××⬠â«××××⬠â«×©×××××â¬
)â«×⬠â«×©×⬠â«×××××â¬-15%.(
â«×× â¬ â«××עך××תâ¬"â«×©×׊××ך⬠â«×××⬠â«××תע×××⬠â«×¢×©×××ת⬠â«×××⬠â«×××××ת⬠â«××⬠â«×§×××ת⬠â«××⬠â«×¢××××⬠â«××××××⬠â«×שך⬠â«×עך××ת⬠â«××⬠â«×â¬
â«×⬠â«× ×סף⬠â«××××¢â¬/â«×××€×⬠â«×©×⬠â«×׀ך××ק×××⬠â«×קש×ך××⬠â«××ך×××⬠â«×©×⬠â«××××××⬠â«×ת×׊××⬠â«××â¬â«×××⬠â«× ×€×⬠â«×©×⬠â«××׀ק×⬠â«×©××â¬,
â«×ק××××××⬠â«××׊××⬠â«× ×ת××⬠â«×××ש×⬠â«×ת×׊××⬠â«×ך××תâ¬.
5.â«××××â¬18â«×××××ס×â¬2010,â«×××ך⬠â«××€×ת××⬠â«×קשת×⬠â«×ת⬠â«××שך⬠â«×××⬠â«××⬠â«×× ×××⬠â«×× ×€×⬠â«×¢× ××× ×⬠â«×¢×⬠â«××××× ×⬠â«×××××¢â¬
"â«×ª×ךâ¬"â«× ×××⬠â«×××⬠â«×¢×⬠â«×©××׊×⬠â«××ת×××⬠â«××ת××â¬,â«×סע×ף⬠â«×©×€×ך×⬠â«××€×â¬1â«××¢××â¬.â«×ª×Š××⬠â«× ×××⬠â«××⬠â«××××× ×⬠â«××קש⬠â«×¢××â¬
â«×׀⬠â«×ª×× ×תâ¬â«××××ך⬠â«×ת××â¬,â«×××קת⬠â«×ש×ת׀××⬠â«×××⬠â«××ס×ך××⬠â«×ך××תâ¬"â«×ª×ךâ¬"â«×ך×××× ××××⬠â«××××××ת⬠â«××¢××⬠â«××××â¬
â«×××קתâ¬"â«×שק×××â¬) "â«×ª××ס⬠â«××⬠â«×€×š××ק×⬠â«×©×⬠â«×××⬠â«×××ך⬠â«×׊××⬠â«××â¬(â«×©×××ף⬠â«×××××€××⬠â«×ק×××⬠â«××××ª×§× ×⬠â«××Š× ×š×ªâ¬,
â«××¢× ×××⬠â«××ס×ך××⬠â«×ך××תâ¬â«×â¬â«××ס××â¬.
â«×¡×€×××ך⬠â«××××שâ¬2010â«×ש×ת׀×ת⬠â«××××××â¬â«××¢×ת×× â¬ â«×××××¢×⬠â«×סך×⬠â«× ×××⬠â«××â¬â«×××¢××⬠â«×תâ¬,â«× ×××⬠â«××ךק××ך×××⬠â«××â¬
â«×ª×ך⬠â«×××ך⬠â«×©×⬠â«××€×ת××⬠â«×ª×× ×ת⬠â«×ת⬠â«××שךâ¬,â«××¢×קך×⬠â«×××××⬠â«××ת×××â¬,5â«×⬠â«×××€×ק⬠â«×ª×××⬠â«×××⬠â«××ת⬠â«×©××⬠â«××ך×תâ¬-
200â«×¢×â¬250â«×ק××ך⬠â«×Š×× ×ך×ת⬠â«×©× ×⬠â«×××׊ע×ת⬠â«×©×××ך×⬠â«××××⬠â«×××¢×⬠â«××⬠â«×©×⬠â«××¢×ק×⬠â«×š××⬠â«××××××â¬"16â«××€×××€×ך×תâ¬
â«×ש×××⬠â«×××€×⬠â«×××⬠â«×©×ª×ק×⬠â«××ש×⬠â«×׀ק×â¬,â«××€×××€×ך×⬠â«×׊×××â¬â«×××ך⬠â«×©×⬠â«×ק×××ת⬠â«×â¬"â«×ך×â¬-B."â«××⬠â«××€×××€×ך××â¬
â«××Š× ×š×ªâ¬ â«××××¢×⬠â«×××⬠â«×××ך×â¬"30â«×€×š×××ק×⬠â«×©×⬠â«×ק×××⬠â«××תק×⬠â«×ק×××תâ¬"â«×ª××ס⬠â«××â¬"â«××ש×××â¬,â«×¢××××⬠â«×ק××××תâ¬
â«×⬠â«×¢×⬠â«×©×⬠â«×ת××ת×תâ¬-1â«××××⬠â«××¢×ק×⬠â«×š××⬠â«×××××ך×â¬.â«×××¢×⬠â«××⬠â«××ס××⬠â«××⬠â«×ª×׀שך⬠â«××××ך×⬠â«××€×ת××⬠â«×ª×× ×תâ¬
â«×ך×⬠â«××××ך⬠â«×ª×ך⬠â«××××ךâ¬-Bâ«×ת×׀שךâ¬,â«×××⬠â«×× ×סףâ¬,â«×â¬â«×××⬠â«×ס׀קת⬠â«×××שך⬠â«×ש××¢×ת×ת⬠â«×š×××â¬,â«×׊×ך×⬠â«××××תâ¬
â«××שק⬠â«×׊ך××⬠â«×××ת××â¬.â«××©× ×ªâ¬ â«××ת×××⬠â«×ת××× × ××⬠â«××€×ת××⬠â«×§×××××â¬2011â«×Š×€×××⬠â«×׀ך××ק×⬠â«×עך××ת⬠â«××ך׊תâ¬
â«×©×⬠â«×ך×××¢×⬠â«×ך××¢××⬠â«××ת×××â¬2012.
â«×ש×ת׀×תâ¬â«×׀ך××ק×⬠â«×ש×ת׀××⬠â«×תך⬠â«×××ש×ך⬠â«× ×××⬠â«×××⬠â«×¢×⬠â«×××××⬠â«×ך×⬠â«××××ך×⬠â«××€×ת××⬠â«×ª×× ×ת⬠â«××⬠â«×××××¢×â¬
â«×⬠â«×××ת××â¬â«×××⬠â«×¢×⬠â«××שך×⬠â«×ך×⬠â«×â¬.â«××⬠â«×××â¬,â«×ש×ת׀××⬠â«××עך×תâ¬,â«×× ×××⬠â«×©×§××××⬠â«×××ע⬠â«×¢×⬠â«××ת×ססâ¬,â«×××€×¢××â¬
â«×€×šâ¬ â«×©×⬠â«××ס×ך×תâ¬â«×â¬â«×©×⬠â«×ך×ש×× ×⬠â«×××׊×ת⬠â«××ת×××⬠â«×¢×©×××⬠â«×ª×ך⬠â«×ק×â¬2013.
â«××××××⬠â«×××¢×⬠â«×××ךâ¬,â«××××â¬21â«×××ק×××ךâ¬2010,â«×©××× ×⬠â«×ª×ך⬠â«×׀ך××ק×⬠â«×ש×ת׀××⬠â«×××⬠â«××⬠â«×ש×ת׀×ת⬠â«××××××â¬
â«×׀ך××ק×⬠â«×©×ת׀××â¬"â«×ª××ס⬠â«××â¬) "â«×â¬â«××⬠â«×××ך⬠â«×ש×ת׀×ת⬠â«×××× ×â¬(,â«××⬠â«××ª× ××â¬"â«×ש×××ש⬠â«×ס×ך××⬠â«×¢×⬠â«×קשך⬠â«×â¬â«××Š× ×š×ªâ¬
â«×©××ש×××⬠â«×ק×××⬠â«×××תק×â¬,â«××¢× ×××⬠â«××ס×ך××⬠â«×ך××תâ¬â«×â¬â«××ס××â¬,â«×©×⬠â«××€×ת××⬠â«×ª×× ×ת⬠â«××ש×ך⬠â«×׊×ך×⬠â«×××תâ¬
â«×ª×ך⬠â«×××ךâ¬,â«××¢××⬠â«××××ך⬠â«××××× ×⬠â«×××⬠â«×¢×⬠â«×©×ת×קש⬠â«××€×â¬.