HERZLIYA, Israel, Jan. 11, 2022 /PRNewswire/ -- Optibase
Ltd. (NASDAQ: OBAS), the Company or Optibase, today announced
that its board of directors resolved to delist the Company's
ordinary shares from trading on the Tel Aviv Stock Exchange Ltd.
("TASE"). Under applicable Israeli law, the delisting of the
Company's ordinary shares from trading on the TASE will become
effective at least upon the lapse of three months from the date
hereof, during such time the Company's ordinary shares will
continue to trade on the TASE. The Company has notified TASE of its
intention to delist its ordinary shares from TASE on April 13, 2022, however, the exact delisting date
is subject to the approval of the TASE. The Company will announce
the exact date for delisting following the approval of the TASE for
the delisting date. Following the delisting of the Company's
ordinary shares from the TASE, the Company will no longer be
subject to any reporting requirements in Israel, under the Israeli securities law.
The ordinary shares of Optibase will continue to be listed on
the Nasdaq Global Market.
Amir Philips, CEO of Optibase,
said, "as most trading in the Company's ordinary shares is made on
Nasdaq, the local trading volume in Optibase's ordinary shares
remained minimal since their listing for trade on the TASE in
April 29, 2015. The majority of
Optibase's investors are operating in the US market. In addition,
the Company's bonds which were traded on the TASE, were fully
repaid on December 29, 2021. Accordingly, we concluded
that it is in the interest of the Company to delist its ordinary
shares from the TASE ".
About Optibase
Optibase invests in the fixed-income real estate field and
currently holds interests in real estate properties in Switzerland, Texas, Philadelphia,
PA, Miami, FL, and in
Chicago, IL, 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 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
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SOURCE Optibase Ltd.