TEL AVIV, Israel, November 4, 2015 /PRNewswire/ --
Elbit Imaging Ltd. (the
"Company" or "EI") announced today that it has
successfully closed a transaction for sell of Elbit Medical
Technologies Ltd. ("Elbit Medical") shares.
At closing, the Company has sold and transferred 41,000,000
Elbit Medical Shares (the "Sold Shares") to a third party
(the "Purchaser"). The Purchaser will pay the consideration
to the Company for the Sold Shares following their sale by the
Purchaser to third parties at a price as stipulated in the
agreement. The consideration for the Sold Shares will be in the
amount that the Purchaser shall sell the Sold Shares to third
parties, after a deduction of a fee to the Purchaser as determined
in the agreement.
The transaction is irrevocable, and therefore, the Sold Shares
shall be solely and exclusively owned by the Purchaser. EI shall
not retain any rights related to the Sold Shares, including among
others: voting rights, dividends, rights issuing, bonus shares,
etc.
Simultaneously, the Company exercised 1,016,316,297
exercise-free options exercisable into 1,016,316,297 Elbit Medical
Shares (the "Options").
The Sold Shares constitute 2.21% of the issued and outstanding
share capital of the company following the exercise of the Options.
After the transaction and the exercise of the Options, the Company
holds 89.9% (86.2% on a fully diluted basis) of the issued and
outstanding share capital of Elbit Medical.
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) Residential
projects - initiation, construction and sale of residential units
or plots designated for residential located primarily in
India.
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 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
SOURCE Elbit Imaging Ltd.