TEL AVIV, Israel, April 14, 2015 /PRNewswire/ --
Elbit Imaging Ltd. (TASE, NASDAQ: EMITF) ("Elbit" or the
"Company") announced today following its previous announcement
dated February 19, 2015 (the
"Previous Announcement") that the independent certified
expert nominated in accordance with the provisions of the Romanian
law and regulations (Ernst & Young Services SRL), has
determined the estimated shareholders' equity fair value of
Bucuresti Turism S.A ("BUTU"), an approximately 77% holding
subsidiary of the Company which shares are traded on RASDAQ market,
to be Euro 64,630 thousands resulting
in a price per share of BUTU of Euro
4.50, equivalent to a price per share of RON 20.17.
(US$ 4.73)
To the best knowledge of the Company, the maximum amount payable
by BUTU to its shareholders who did not vote in favor of the
resolution detailed in the Previous Announcement to the extent all
such shareholders will exercise their right to withdraw from BUTU,
is therefore approximately Euro 14.5
million (approximately US$ 15.2
million), which amount will be financed by BUTU either from
its own resources and/or third party loans and/or controlling
shareholders loans.
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
Tel: +972-3-608-6048
Fax: +972-3-608-6050
ron@elbitimaging.com
SOURCE Elbit Imaging Ltd.