TEL AVIV, Israel, February 19, 2015 /PRNewswire/ --
Elbit Imaging Ltd. (TASE, NASDAQ: EMITF) ("Elbit" or the
"Company") announced today that at the extraordinary general
meeting of shareholders of its approximately 77% holding subsidiary
Bucuresti Turism S.A., which shares are traded on RASDAQ market
("BUTU"), that took place on February
18, 2015, it was resolved, amongst other things, that BUTU
will not take the necessary legal actions for the shares issued by
it to be admitted for trading on a regulated market or to be listed
on an alternate trading system. The Company's subsidiary which is
the direct owner of the shares in BUTU voted in favor of the above
resolution. BUTU is the owner of the hotel complex known as the
"Radisson Blu" in Bucharest,
Romania.
To the best knowledge of the Company, according to Romanian law,
as a result of the aforementioned resolution BUTU's shares will be
delisted and the shareholders of BUTU who have not voted in favor
of the aforementioned resolution will be entitled to withdraw from
BUTU, in consideration for a price to be paid by BUTU as determined
by an independent certified expert in accordance with the
provisions of the Romanian law and regulations.
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; and (iv) Residential Projects - Initiation,
construction and sale of residential projects and other mixed-use
real property projects, predominately residential, located
primarily in India.
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.