Elbit Imaging Announces Its Subsidiary, Plaza Centers, Has Announced the Sale of Liberec Plaza Closing
March 31 2016 - 7:36AM
Elbit Imaging Ltd. (“EI” or the
“Company”) (TASE:EMITF) (NASDAQ:EMITF) announced
today, further to its announcements dated on March 4, 2016, with
respect to the signing of an agreement to sale Liberec Plaza in the
Czech Republic by
Plaza Centers N.V. ("Plaza")
(LSE:PLAZ), an indirect subsidiary of the Company, that Plaza has
completed the sale of its subsidiary holding Liberec Plaza, a
shopping and entertainment center in the Czech Republic, for €9.5
million. Following net asset value adjustments related to the
subsidiary’s balance sheet, Plaza received net €9.37 million.
About Elbit Imaging Ltd.
Elbit Imaging Ltd. operates in the following principal fields of
business: (i) Commercial centers - initiation, construction, and
sale of commercial centers and other mixed-use property projects,
predominantly in the retail sector, located in Central and Eastern
Europe. In certain circumstances and depending on market
conditions, the Group operates and manages commercial centers prior
to their sale. (ii) Hotels - hotels operation and management.
(iii) Medical industries and devices - (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) Plots in India - plots designated for sale initially
designated to residential
projects.
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,” “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, a change in market conditions, a
decision to deploy the cash for other business opportunities 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,
2014, 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 in 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
Tel: +972-3-608-6048
Fax: +972-3-608-6050
ron@elbitimaging.com
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