Optibase Ltd.: Appeal Filed Against the Court Decision to Deny Motion to Approve a Derivative Claim

Date : 09/23/2019 @ 4:31PM
Source : PR Newswire (US)
Stock : Optibase Ltd (OBAS)
Quote : 11.24  0.0 (0.00%) @ 10:00PM
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Optibase Ltd.: Appeal Filed Against the Court Decision to Deny Motion to Approve a Derivative Claim

Optibase (NASDAQ:OBAS)
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HERZLIYA, Israel, Sept. 23, 2019 /PRNewswire/ -- Optibase Ltd. (NASDAQ: OBAS) (the "Company" or "Optibase") announces that further to its report dated June 18, 2019, that the Israeli Central (Lod) District Court (the "Court") denied the motion to approve the filing of a derivative claim against the Company's controlling shareholder, directors and CEO and against certain former controlling shareholders and directors, the Company was advised that on September 22, 2019, the claimant filed a petition appealing the Court decision.

About Optibase 

Optibase invests in the fixed-income real estate field and currently holds properties in Switzerland and in Miami, Texas and Philadelphia, USA and is currently looking for additional real estate investment opportunities. Optibase was previously engaged in the field of digital video technologies until the sale of its video solutions business to Optibase Technologies Ltd., a wholly owned subsidiary of VITEC Multimedia ("Vitec") in July 2010. For further information, please visit www.optibase-holdings.com.

This press release contains forward-looking statements concerning our marketing and operations plans.  All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this press release are made based on management's current expectations which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements. These statements involve a number of risks and uncertainties including, but not limited to, difficulties in finding suitable real-estate properties for investment, availability of financing for the acquisition of real-estate, difficulties in leasing of real-estate properties, insolvency of tenants, difficulties in the disposition of real-estate projects, risk relating to collaborative arrangements with our partners relating to our real-estate properties, risks relating to the full consummation of the transaction for the sale of our video solutions business, general economic conditions and other risk factors.  For a more detailed discussion of these and other risks that may cause actual results to differ from the forward looking statements in this press release, please refer to Optibase's most recent annual report on Form 20-F.  The Company does not undertake any obligation to update forward-looking statements made herein.

Media Contacts:
Amir Philips, CEO, Optibase Ltd.
011-972-73-7073-700
info@optibase-holdings.com 

Investor Relations Contact:
Marybeth Csaby, for Optibase
+1- 917-664-3055
Marybeth.Csaby@gmail.com

Cision View original content:http://www.prnewswire.com/news-releases/optibase-ltd-appeal-filed-against-the-court-decision-to-deny-motion-to-approve-a-derivative-claim-300923376.html

SOURCE Optibase Ltd.

Copyright 2019 PR Newswire

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