TEL AVIV, Israel, December 19, 2014 /PRNewswire/ --
Elbit Imaging Ltd. (TASE, NASDAQ: EMITF) ("Elbit" or the
"Company") announced today, following its announcements dated
June 23, 2014, October 14, 2014 and November 28, 2014, that its subsidiary,
Plaza Centers N.V. (LSE: PLAZ, WSE: PLZ/PLAZACNTR, TASE: PLAZ)
("Plaza"), announced that it has successfully completed its rights
offering, which forms part of its restructuring plan ("Rights
Offering").
Elbit Ultrasound (Luxembourg)
B.V./S.a.r.l., a wholly owned subsidiary of the Company
("EUL") has purchased 122,847,376 new ordinary shares of
Plaza under the Rights Offering and the arrangements under the
Undertaking (as defined in the Company's previous announcement
dated June 23, 2014) for an aggregate
amount of approximately Euro 8.3
million and has procured that Burlington Loan Management
Limited, an affiliate of Davidson Kempner Capital Management LP, a
shareholder of the Company, will purchase 163,803,197 new ordinary
shares of Plaza which represent 26.3% of Plaza for an additional
amount of Euro 11.05 million.
Following the Rights Offering and associated placing of shares
and the issuance of new ordinary shares to Plaza's bondholders
under Plaza's restructuring plan as announced by Plaza, EUL will
hold 44.9% in the issued share capital of Plaza.
Plaza announced further that it is expected that (i) the new
ordinary shares of Plaza (issued to the Plaza's shareholders and
bondholders as described above) in uncertificated form will be
credited to stock accounts on December 23,
2014; and (ii) such new ordinary shares of Plaza will
commence trading, fully paid, on the London Stock Exchange plc's
main market for listed securities and on the Warsaw Stock Exchange
on December 23, 2014 and on the Tel
Aviv Stock Exchange shortly thereafter.
About Elbit Imaging Ltd.
Elbit Imaging Ltd. operates in the following principal fields of
business: (i) Commercial and Entertainment Centers - Initiation,
construction and sale of shopping and entertainment centers and
other mixed-use real property projects, predominantly in the retail
sector, located in Central and Eastern
Europe and in India,
primarily through its subsidiary Plaza Centers N.V. In certain
circumstances and depending on market conditions, we operate and
manage commercial and entertainment centers prior to their sale;
(ii) Hotels - Hotel operation and management; (iii) Medical
Industries - (a) research and development, production and marketing
of magnetic resonance imaging guided focused ultrasound treatment
equipment and (b) development of stem cell population expansion
technologies and stem cell therapy products for transplantation and
regenerative medicine; (iv) Residential Projects - Initiation,
construction and sale of residential projects and other mixed-use
real property projects, predominately residential, located
primarily in India; (v) Fashion
Apparel - Distribution and marketing of fashion apparel and
accessories in Israel.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Any forward-looking statements in our releases include
statements regarding the intent, belief or current expectations of
Elbit Imaging Ltd. and our management about our business, financial
condition, results of operations, and its relationship with its
employees and the condition of our properties. Words such as
"believe," "would," "expect," "intend," "estimate" and similar
expressions are intended to identify forward-looking statements but
are not the exclusive means of identifying such statements. Actual
results may differ materially from those projected, expressed or
implied in the forward-looking statements as a result of various
factors including, without limitation, the failure of the Rights
Offering to receive requisite regulatory approvals and
the factors set forth in our filings with the Securities and
Exchange Commission including, without limitation, Item 3.D of our
annual report on Form 20-F for the fiscal year ended December 31, 2013, under the caption "Risk
Factors." Any forward-looking statements contained in our releases
speak only as of the date of such release, and we caution existing
and prospective investors not to place undue reliance on such
statements. Such forward-looking statements do not purport to be
predictions of future events or circumstances, and therefore, there
can be no assurance that any forward-looking statement contained
our releases will prove to be accurate. We undertake no obligation
to update or revise any forward-looking statements.
For Further Information:
Company Contact:
Ron Hadassi
Chairman of the Board of
Directors and Acting CEO
Tel: +972-3-608-6048
Fax: +972-3-608-6050
ron@elbitimaging.com
SOURCE Elbit Imaging Ltd.