Latest Elbit Imaging Ltd (EMITF) Headlines
Elbit Imaging Announces Court Decision to Reject the Request on Behalf of the Trustees of Series B Notes for Liquidation
PR Newswire - Thu Mar 06, 9:24AM CST
Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today further to the Company's announcement dated April 4, 2014, May 8, 2013 and July 2, 2013 that that the Tel Aviv District Court rejected the liquidation request of the trustees of the Company's Series B Notes.
Elbit Imaging Ltd. Announces Filing of Proxy Statement and Proxy Card for Extraordinary General Meeting
PR Newswire - Thu Feb 27, 1:44PM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) (the "Company") announced today that, further to its announcement on February 20, 2014 (the "Previous Announcement") regarding the extraordinary general meeting of shareholders scheduled to take place on Thursday, March 13, 2014 at 11:00 a.m. (Israel time), at the offices of the Company, located at 5 Kinneret Street, 32nd Floor, Bnei-Brak, Israel (the "Meeting"), that a proxy statement describing the agenda and the form of proxy card for use by shareholders that cannot attend the Meeting in person were filed electronically today on Form 6-K with the Securities and Exchange Commission (SEC) and is available on the SEC's EDGAR website. The record date for the Meeting is March 4, 2014.
Elbit Imaging Ltd. Announces Recogniton of Gain from Debt Restructuring and Compliance with NASDAQ Listing Rules
PR Newswire - Mon Feb 24, 1:56AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) (the "Company") announced today that as a result of the closing of the plan of arrangement among the Company and its unsecured financial creditors (the "Debt Restructuring") on February 20, 2014, the Company will recognize gain in the first quarter of 2014 in the total amount of approximately NIS 1.6 billion (approximately US$ 457 million). Furthermore, as a result of the Debt Restructuring, the Company's shareholders' equity will increase in the total amount of approximately NIS 1.9 billion (approximately US$ 544 million) (the "Shareholders Equity Increase").
Elbit Imaging Ltd. Consummates Debt Restructuring and Calls Extraordinary General Meeting of Shareholders
PR Newswire - Thu Feb 20, 11:40AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) (the "Company") announced today that, further to its announcement on January 2, 2014 regarding the Tel-Aviv Jaffa District Court's (the "Court") approval of the plan of arrangement with its unsecured financial creditors (respectively, the "Arrangement" and "Court Ruling"), the closing of the Arrangement (the "Closing") took place today (February 20, 2014). As part of the Arrangement, 509,713,459 ordinary shares were issued to the Company's unsecured financial creditors, out of which 9,090,122 ordinary shares were issued at the Closing and deposited in trust for the benefit of Bank Leumi Le Israel B.M. ("Bank Leumi"), due to the ongoing dispute between the Company and Bank Leumi regarding the validity of certain pledges registered in Bank Leumi's favor.
Elbit Imaging Announces Amended Timetable - Distribution of Issued Shares and New Notes
PR Newswire - Tue Feb 18, 11:20AM CST
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ANI Pharmaceuticals Reports Record Net Revenues of $10.5 million, EPS from continuing operations of $0.35, and Adjusted Non-GAAP EBITDA of $3.9 Million for the Fourth Quarter Ended December 31, 2013
PR Newswire - Tue Feb 18, 7:30AM CST
ANI Pharmaceuticals, Inc. ("ANI") (NASDAQ: ANIP) today reported financial results for the three and twelve months ended December 31, 2013.
Elbit Imaging Announces Timetable and Other Material Information Regarding the Restructuring
PR Newswire - Tue Feb 18, 6:05AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today that, further to the Company's announcements on September 18, 2013 and January 2, 2014 (the "Previous Announcements") with respect to the ruling given by the District Court of Tel Aviv-Jaffa (the "Court") in File No. 42576-02-13 (the "Court Ruling"), which approved the restructuring plan between the Company and the Company's unsecured financial creditors (the "Restructuring"), that on February 16, 2014 the Tel Aviv Stock Exchange approved the Restructuring and the listing of 509,713,459 ordinary shares of the Company with no par value (the "Issued Shares") and the Company's NIS 448,000,000 par value Series H Notes as well as the Company's NIS 218,000,000 par value Series I Notes (the "New Notes"), such approval representing fulfillment of the conditions precedent as set in Section 7 to the Restructuring plan.
Elbit Imaging Announces the Results of the Company's Unsecured Financial Creditors Meeting Approving Postponement of the Creating and Registering of the Collaterals Securing the New Notes
PR Newswire - Mon Feb 10, 8:05AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcements on September 18, 2013 and January 2, 2014 (the "Previous Announcement"), the results of the meeting of the Company's unsecured financial creditors (the "Meeting") that voted on the postponement of the creating and registering of the collaterals securing the new notes ("New Notes") which shall be issued under the terms of the plan of arrangement between the Company and its unsecured financial creditors (the "Arrangement") by 45 business days following the closing of the Arrangement. Accordingly the creating and registering shall be deemed an undertaking of the Company (rather than a condition precedent to the closing of the Arrangement), the failure to satisfy thereof, shall render the holders of the New Notes the right to demand early repayment of any and all amounts due under the New Notes (the "Resolution").
Elbit Imaging Announces Noteholder's Filing of an Appeal with Regards to Approval of the Arrangment
PR Newswire - Sun Feb 02, 7:15AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcement dated January 2, 2014 with respect to the approval of the adjusted plan of arrangement submitted to the Tel-Aviv Jaffa District Court (the "Court") in file No. 42576-02-13 (the "Arrangement") by the Court, that a holder of Series B Notes (the "Holder"), which filed a purported class action lawsuit against the Company with the Court on April 11, 2013 as announced by the Company on April 15, 2013 ("Purported Class Action"), filed with the Israel Supreme Court an appeal arguing that the Court erred in approving the Arrangement. It is noted that such appellant holds approximately 0.1% of the total unsecured debt of the Company. The Company rejects such argument and intends to defend the case vigorously and is continuing with pursuing the consummation of the Arrangement and the completion thereof.
Elbit Imaging Defers Adoption of Compensation Policy
PR Newswire - Sun Jan 12, 8:00AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today that it has decided to defer the adoption of a compensation policy for the Company's directors and officers pursuant to the Israeli Companies Law. As previously announced, on January 1, 2014, the Tel-Aviv Jaffa District Court approved the Company's adjusted plan of arrangement for a restructuring of the Company's unsecured financial debt, among other things. The Company expects that following the consummation of the restructuring, the shareholders of the Company will elect a new board of directors, which will formulate the Company's business strategy, including a compensation policy for the Company's officers and directors.
Elbit Imaging receives court's approval of arrangement
M2 - Thu Jan 02, 5:10AM CST
Elbit Imaging Ltd (TASE:EMITF)(Nasdaq:EMITF) announced on Thursday, that with respect to the adjusted plan of arrangement submitted to the Tel-Aviv Jaffa District Court in file No. 42576-02-13, the court, in a ruling issued 2 January 2014, has approved the arrangement.
Elbit Imaging Announces Court's Approval of the Arrangement
PR Newswire - Thu Jan 02, 2:14AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcements on September 18, 2013 and on December 30, 2013 with respect to the adjusted plan of arrangement submitted to the Tel-Aviv Jaffa District Court (the "Court") in file No. 42576-02-13 (the "Arrangement"), that the Court, in a ruling issued today, approved the Arrangement. The consummation of the Arrangement is subject to customary conditions. The Court requested that the Company provide it with an update on the status thereof by February 4, 2014. The Company intends to diligently pursue the consummation of the Arrangement as set forth in the Court ruling.
Elbit Imaging Announces The Execution Of A Definitive Agreement With Bank Hapoalim
PR Newswire - Mon Dec 30, 1:15AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcements on November 14, 2013 and on November 26, 2013 (collectively, the "Previous Announcements"), that following the receipt of the requisite approval from its unsecured financial creditors, it has entered into a definitive agreement with Bank Hapoalim B.M. (the "Bank") on the basis of the general terms of agreement that were approved by the Company's unsecured financial creditors, as described in the Previous Announcements (the "Definitive Agreement").
Elbit Imaging Ltd. Announces Receipt of Nasdaq Notification Regarding Stockholders' Equity
PR Newswire - Thu Dec 05, 7:39AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) (the "Company") announced today that on December 4, 2013, it received a written notification from the Listing Qualifications Department of The NASDAQ Stock Market LLC ("Nasdaq"). The notification advised the Company that since the Company's Form 6-K, filed on November 27, 2013, for the period ended September 30, 2013 reported negative stockholders' equity of $34,561,000, the Company no longer complies with the Nasdaq Listing Rules since Nasdaq Listing Rule 5450(b)(1)(A) requires companies listed on the Nasdaq Global Select Market to maintain a minimum of $10,000,000 in stockholders' equity. The notification also stated that the Company has until January 21, 2014, to submit to Nasdaq a plan to regain compliance with Rule 5450(b)(1)(A), and if the plan is accepted Nasdaq can grant an extension of up to 180 calendar days from the date of the notification for the Company to regain compliance.
Elbit Imaging Ltd. Announces Third Quarter Results For 2013
PR Newswire - Wed Nov 27, 1:05PM CST
Elbit Imaging Ltd. (TASE, NASDAQ: EMITF) ("Elbit"" or the "Company") announced today its results for the third quarter of 2013.
Elbit Imaging Announces the Results of the Company's Unsecured Financial Creditors Meeting Approving the General Terms of Agreement to be Entered Into With Bank Hapoalim
PR Newswire - Tue Nov 26, 8:11AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcement on November 14, 2013 (the "Previous Announcement"), the results of the meeting (the "Meeting") of the Company's unsecured financial creditors that voted on the general terms of agreement to be entered into with Bank Hapoalim B.M. (the "Bank") as described in the Previous Announcement (the "Proposed Refinancing").
The Company's Subsidiary, Plaza Centers N.V., Announced Availability of Notable Independent Report on Restructuring Process on its Website
PR Newswire - Mon Nov 25, 5:27AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) ("Elbit") announced today that its subsidiary, Plaza Centers N.V. (LSE: PLAZ, WSE: PLZ/PLAZACNTR) ("Plaza"), has announced the availability of a financial analysis report, prepared by external independent advisory firm Baker Tilly, in support of Plaza's restructuring plan, on Plaza's website.
The Company's Subsidiary, Plaza Centers N.V., Announced Grant of its Application for Reorganisation Proceedings and Proposes Restructuring Plan to its Creditors
PR Newswire - Wed Nov 20, 1:46AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) ("Elbit") announced today that its subsidiary, Plaza Centers N.V. (LSE: PLAZ, WSE: PLZ/PLAZACNTR) ("Plaza"), has announced that further to the announcement dated November 14, 2013, that Plaza has filed for reorganization proceedings with the District Court of Amsterdam in the Netherlands (the "Court") and submitted a restructuring plan to the Court. Pursuant to Dutch reorganization proceedings, the Court appoints an administrator to manage the affairs of Plaza together with existing management; ordinary unsecured creditors of Plaza become subject to a stay and Plaza has the ability to restructure its debts during the moratorium with majority consent of its creditors. Throughout the restructuring process Plaza intends to continue its business activities as normal.
Elbit Imaging Ltd. Sets Deadline for Voting to Approve General Terms of Agreement to be Entered Into With Bank Hapoalim
PR Newswire - Thu Nov 14, 8:45AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) ("Company") announced today that the deadline for voting on the proposal set forth below, in continuance of the meeting of its unsecured financial creditors including the holders of its Series A-G and Series 1 notes (together, the "Notes") that took place on Wednesday, November 7, 2013 (the "Meeting"), is Thursday, November 21, 2013 at 12:00 p.m.
Elbit Imaging Ltd. Announces Receipt of a Repayment Demand From Plaza Centers N.V. Re Joint Project
PR Newswire - Thu Nov 14, 8:11AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) (the "Company") announced today that, with reference to the Strategic Joint Venture and Shareholders Agreement (the "Agreement") entered into between the Company and its subsidiary Plaza Centers N.V. ("Plaza") with respect to joint venture projects in India (as detailed in the Company's announcement of August 26, 2008), it had received notice from Plaza demanding full and immediate repayment of the consideration (including accrued interest) paid by Plaza for the rights in the Kochi Island project amounting to approximately EUR 4.3 million (US$ 5.8 million), due to alleged failure to timely meet certain conditions set forth in the Agreement. The Company principally disagrees with Plaza's position, however, it intends to examine the implications of the exclusion of the project from the Agreement before responding to the crux of the matter.
Elbit Imaging Announces Court Decision to Reject the Request on Behalf of the Trustees of Series B Notes for Liquidation
PR Newswire - Thu Mar 06, 9:24AM CST
Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today further to the Company's announcement dated April 4, 2014, May 8, 2013 and July 2, 2013 that that the Tel Aviv District Court rejected the liquidation request of the trustees of the Company's Series B Notes.
Elbit Imaging Ltd. Announces Filing of Proxy Statement and Proxy Card for Extraordinary General Meeting
PR Newswire - Thu Feb 27, 1:44PM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) (the "Company") announced today that, further to its announcement on February 20, 2014 (the "Previous Announcement") regarding the extraordinary general meeting of shareholders scheduled to take place on Thursday, March 13, 2014 at 11:00 a.m. (Israel time), at the offices of the Company, located at 5 Kinneret Street, 32nd Floor, Bnei-Brak, Israel (the "Meeting"), that a proxy statement describing the agenda and the form of proxy card for use by shareholders that cannot attend the Meeting in person were filed electronically today on Form 6-K with the Securities and Exchange Commission (SEC) and is available on the SEC's EDGAR website. The record date for the Meeting is March 4, 2014.
Elbit Imaging Ltd. Announces Recogniton of Gain from Debt Restructuring and Compliance with NASDAQ Listing Rules
PR Newswire - Mon Feb 24, 1:56AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) (the "Company") announced today that as a result of the closing of the plan of arrangement among the Company and its unsecured financial creditors (the "Debt Restructuring") on February 20, 2014, the Company will recognize gain in the first quarter of 2014 in the total amount of approximately NIS 1.6 billion (approximately US$ 457 million). Furthermore, as a result of the Debt Restructuring, the Company's shareholders' equity will increase in the total amount of approximately NIS 1.9 billion (approximately US$ 544 million) (the "Shareholders Equity Increase").
Elbit Imaging Ltd. Consummates Debt Restructuring and Calls Extraordinary General Meeting of Shareholders
PR Newswire - Thu Feb 20, 11:40AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) (the "Company") announced today that, further to its announcement on January 2, 2014 regarding the Tel-Aviv Jaffa District Court's (the "Court") approval of the plan of arrangement with its unsecured financial creditors (respectively, the "Arrangement" and "Court Ruling"), the closing of the Arrangement (the "Closing") took place today (February 20, 2014). As part of the Arrangement, 509,713,459 ordinary shares were issued to the Company's unsecured financial creditors, out of which 9,090,122 ordinary shares were issued at the Closing and deposited in trust for the benefit of Bank Leumi Le Israel B.M. ("Bank Leumi"), due to the ongoing dispute between the Company and Bank Leumi regarding the validity of certain pledges registered in Bank Leumi's favor.
Elbit Imaging Announces Amended Timetable - Distribution of Issued Shares and New Notes
PR Newswire - Tue Feb 18, 11:20AM CST
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ANI Pharmaceuticals Reports Record Net Revenues of $10.5 million, EPS from continuing operations of $0.35, and Adjusted Non-GAAP EBITDA of $3.9 Million for the Fourth Quarter Ended December 31, 2013
PR Newswire - Tue Feb 18, 7:30AM CST
ANI Pharmaceuticals, Inc. ("ANI") (NASDAQ: ANIP) today reported financial results for the three and twelve months ended December 31, 2013.
Elbit Imaging Announces Timetable and Other Material Information Regarding the Restructuring
PR Newswire - Tue Feb 18, 6:05AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today that, further to the Company's announcements on September 18, 2013 and January 2, 2014 (the "Previous Announcements") with respect to the ruling given by the District Court of Tel Aviv-Jaffa (the "Court") in File No. 42576-02-13 (the "Court Ruling"), which approved the restructuring plan between the Company and the Company's unsecured financial creditors (the "Restructuring"), that on February 16, 2014 the Tel Aviv Stock Exchange approved the Restructuring and the listing of 509,713,459 ordinary shares of the Company with no par value (the "Issued Shares") and the Company's NIS 448,000,000 par value Series H Notes as well as the Company's NIS 218,000,000 par value Series I Notes (the "New Notes"), such approval representing fulfillment of the conditions precedent as set in Section 7 to the Restructuring plan.
Elbit Imaging Announces the Results of the Company's Unsecured Financial Creditors Meeting Approving Postponement of the Creating and Registering of the Collaterals Securing the New Notes
PR Newswire - Mon Feb 10, 8:05AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcements on September 18, 2013 and January 2, 2014 (the "Previous Announcement"), the results of the meeting of the Company's unsecured financial creditors (the "Meeting") that voted on the postponement of the creating and registering of the collaterals securing the new notes ("New Notes") which shall be issued under the terms of the plan of arrangement between the Company and its unsecured financial creditors (the "Arrangement") by 45 business days following the closing of the Arrangement. Accordingly the creating and registering shall be deemed an undertaking of the Company (rather than a condition precedent to the closing of the Arrangement), the failure to satisfy thereof, shall render the holders of the New Notes the right to demand early repayment of any and all amounts due under the New Notes (the "Resolution").
Elbit Imaging Announces Noteholder's Filing of an Appeal with Regards to Approval of the Arrangment
PR Newswire - Sun Feb 02, 7:15AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcement dated January 2, 2014 with respect to the approval of the adjusted plan of arrangement submitted to the Tel-Aviv Jaffa District Court (the "Court") in file No. 42576-02-13 (the "Arrangement") by the Court, that a holder of Series B Notes (the "Holder"), which filed a purported class action lawsuit against the Company with the Court on April 11, 2013 as announced by the Company on April 15, 2013 ("Purported Class Action"), filed with the Israel Supreme Court an appeal arguing that the Court erred in approving the Arrangement. It is noted that such appellant holds approximately 0.1% of the total unsecured debt of the Company. The Company rejects such argument and intends to defend the case vigorously and is continuing with pursuing the consummation of the Arrangement and the completion thereof.
Elbit Imaging Defers Adoption of Compensation Policy
PR Newswire - Sun Jan 12, 8:00AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today that it has decided to defer the adoption of a compensation policy for the Company's directors and officers pursuant to the Israeli Companies Law. As previously announced, on January 1, 2014, the Tel-Aviv Jaffa District Court approved the Company's adjusted plan of arrangement for a restructuring of the Company's unsecured financial debt, among other things. The Company expects that following the consummation of the restructuring, the shareholders of the Company will elect a new board of directors, which will formulate the Company's business strategy, including a compensation policy for the Company's officers and directors.
Elbit Imaging receives court's approval of arrangement
M2 - Thu Jan 02, 5:10AM CST
Elbit Imaging Ltd (TASE:EMITF)(Nasdaq:EMITF) announced on Thursday, that with respect to the adjusted plan of arrangement submitted to the Tel-Aviv Jaffa District Court in file No. 42576-02-13, the court, in a ruling issued 2 January 2014, has approved the arrangement.
Elbit Imaging Announces Court's Approval of the Arrangement
PR Newswire - Thu Jan 02, 2:14AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcements on September 18, 2013 and on December 30, 2013 with respect to the adjusted plan of arrangement submitted to the Tel-Aviv Jaffa District Court (the "Court") in file No. 42576-02-13 (the "Arrangement"), that the Court, in a ruling issued today, approved the Arrangement. The consummation of the Arrangement is subject to customary conditions. The Court requested that the Company provide it with an update on the status thereof by February 4, 2014. The Company intends to diligently pursue the consummation of the Arrangement as set forth in the Court ruling.
Elbit Imaging Announces The Execution Of A Definitive Agreement With Bank Hapoalim
PR Newswire - Mon Dec 30, 1:15AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcements on November 14, 2013 and on November 26, 2013 (collectively, the "Previous Announcements"), that following the receipt of the requisite approval from its unsecured financial creditors, it has entered into a definitive agreement with Bank Hapoalim B.M. (the "Bank") on the basis of the general terms of agreement that were approved by the Company's unsecured financial creditors, as described in the Previous Announcements (the "Definitive Agreement").
Elbit Imaging Ltd. Announces Receipt of Nasdaq Notification Regarding Stockholders' Equity
PR Newswire - Thu Dec 05, 7:39AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) (the "Company") announced today that on December 4, 2013, it received a written notification from the Listing Qualifications Department of The NASDAQ Stock Market LLC ("Nasdaq"). The notification advised the Company that since the Company's Form 6-K, filed on November 27, 2013, for the period ended September 30, 2013 reported negative stockholders' equity of $34,561,000, the Company no longer complies with the Nasdaq Listing Rules since Nasdaq Listing Rule 5450(b)(1)(A) requires companies listed on the Nasdaq Global Select Market to maintain a minimum of $10,000,000 in stockholders' equity. The notification also stated that the Company has until January 21, 2014, to submit to Nasdaq a plan to regain compliance with Rule 5450(b)(1)(A), and if the plan is accepted Nasdaq can grant an extension of up to 180 calendar days from the date of the notification for the Company to regain compliance.
Elbit Imaging Ltd. Announces Third Quarter Results For 2013
PR Newswire - Wed Nov 27, 1:05PM CST
Elbit Imaging Ltd. (TASE, NASDAQ: EMITF) ("Elbit"" or the "Company") announced today its results for the third quarter of 2013.
Elbit Imaging Announces the Results of the Company's Unsecured Financial Creditors Meeting Approving the General Terms of Agreement to be Entered Into With Bank Hapoalim
PR Newswire - Tue Nov 26, 8:11AM CST
Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcement on November 14, 2013 (the "Previous Announcement"), the results of the meeting (the "Meeting") of the Company's unsecured financial creditors that voted on the general terms of agreement to be entered into with Bank Hapoalim B.M. (the "Bank") as described in the Previous Announcement (the "Proposed Refinancing").
The Company's Subsidiary, Plaza Centers N.V., Announced Availability of Notable Independent Report on Restructuring Process on its Website
PR Newswire - Mon Nov 25, 5:27AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) ("Elbit") announced today that its subsidiary, Plaza Centers N.V. (LSE: PLAZ, WSE: PLZ/PLAZACNTR) ("Plaza"), has announced the availability of a financial analysis report, prepared by external independent advisory firm Baker Tilly, in support of Plaza's restructuring plan, on Plaza's website.
The Company's Subsidiary, Plaza Centers N.V., Announced Grant of its Application for Reorganisation Proceedings and Proposes Restructuring Plan to its Creditors
PR Newswire - Wed Nov 20, 1:46AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) ("Elbit") announced today that its subsidiary, Plaza Centers N.V. (LSE: PLAZ, WSE: PLZ/PLAZACNTR) ("Plaza"), has announced that further to the announcement dated November 14, 2013, that Plaza has filed for reorganization proceedings with the District Court of Amsterdam in the Netherlands (the "Court") and submitted a restructuring plan to the Court. Pursuant to Dutch reorganization proceedings, the Court appoints an administrator to manage the affairs of Plaza together with existing management; ordinary unsecured creditors of Plaza become subject to a stay and Plaza has the ability to restructure its debts during the moratorium with majority consent of its creditors. Throughout the restructuring process Plaza intends to continue its business activities as normal.
Elbit Imaging Ltd. Sets Deadline for Voting to Approve General Terms of Agreement to be Entered Into With Bank Hapoalim
PR Newswire - Thu Nov 14, 8:45AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) ("Company") announced today that the deadline for voting on the proposal set forth below, in continuance of the meeting of its unsecured financial creditors including the holders of its Series A-G and Series 1 notes (together, the "Notes") that took place on Wednesday, November 7, 2013 (the "Meeting"), is Thursday, November 21, 2013 at 12:00 p.m.
Elbit Imaging Ltd. Announces Receipt of a Repayment Demand From Plaza Centers N.V. Re Joint Project
PR Newswire - Thu Nov 14, 8:11AM CST
Elbit Imaging Ltd. (NASDAQ: EMITF) (the "Company") announced today that, with reference to the Strategic Joint Venture and Shareholders Agreement (the "Agreement") entered into between the Company and its subsidiary Plaza Centers N.V. ("Plaza") with respect to joint venture projects in India (as detailed in the Company's announcement of August 26, 2008), it had received notice from Plaza demanding full and immediate repayment of the consideration (including accrued interest) paid by Plaza for the rights in the Kochi Island project amounting to approximately EUR 4.3 million (US$ 5.8 million), due to alleged failure to timely meet certain conditions set forth in the Agreement. The Company principally disagrees with Plaza's position, however, it intends to examine the implications of the exclusion of the project from the Agreement before responding to the crux of the matter.
