Key Developments For Elbit Imaging Ltd.
Elbit Imaging Ltd. (EMITF.O) (Nasdaq)
Elbit Imaging Ltd. Announces Sale Of Plaza Centers N.V. Shares
Elbit Imaging Ltd. announces that on October 9 ,2009, it sold a total of 4,794,292 ordinary shares of it subsidiary, Plaza Centers N.V., (Plaza), to a number of Polish institutional investors. The aggregate consideration for the shares sold by Elbit is approximately GBP6.7 million (approximately $10.6 million) representing a price of PLN6.5 per share (approximately GBP1.41 ), compared to the Warsaw Stock Exchange closing price on October 9, 2009, of PLN6.6 per share (approximately GBP1.43 ). These shares were originally purchased by Elbit for a total consideration of GBP2.9 million (approximately $4.6 million), representing an average price of GBP0.61 per share. As result of this transaction, Elbit will generate a net cash flow of approximately GBP3.8 million (approximately $6.0 million). Following these transactions Elbit currently owns approximately 68.3% of Plaza share capital.
Elbit Imaging Ltd Announces Results of Public Tender In Its Debenture Offering In Israel
Elbit Imaging Ltd announced that the public tender component of its Israeli public offering of Series F Debentures and Series 1 Convertible Debentures, previously announced on August 2, 2009, has been concluded. The final pricing information relating to the public offering is NIS 141,564 principal amount of Series F Debentures, at the price of NIS 1,096 per unit (each unit is comprised of NIS 1,000 principal amount) representing a 5.5% yield per annum and an aggregate proceeds amount of approximately NIS 155.1 million. The additional Series F Debentures have the same terms as the original Series F Debentures; and NIS 112,005 principal amount of Series 1 Convertible Debentures, at the price of NIS 1,061 per unit (each unit is comprised of NIS 1,000 principal amount), with a fixed interest rate of 6.25% per annum, without linkage, representing a 4.78% yield per annum and an aggregate proceeds amount of approximately NIS 118.8 million. The Series 1 Convertible Debentures mature on December 31, 2014 and are convertible into Elbit's ordinary shares at the price of NIS 128 per share until July 31, 2013 and at the price of NIS 200 per share thereafter until December 14, 2014.
Elbit Imaging Ltd Announces Filing of Supplemental Shelf Offering Report in Israel
Elbit Imaging Ltd announced that it has filed a supplemental shelf offering report, with the Israeli Securities Authority and the Tel Aviv Stock Exchange (TASE). Pursuant to the Offering Report, the Company is offering, in Israel only, additional Series F Debentures in an aggregate principal amount of up to NIS 141,564 , at the price of no less than NIS 1,086 per unit (each unit is comprised of NIS 1,000 principal amount) representing an expected aggregate proceeds amount of approximately NIS 153.74 million, and new Series 1 Convertible Debentures in an aggregate principal amount of up to NIS 112,005 at the price of NIS 1,038 per unit (each unit is comprised of NIS 1,000 principal amount) representing an expected aggregate proceeds amount of approximately NIS 116.26 million. The additional Series F Debentures have the same terms as the original Series F Debentures. The principal of the Series 1 Convertible Debentures will be payable in two equal annual payments payable December 31 of each of the years 2013 and 2014, without any linkage. The Series 1 Convertible Debentures mature on December 31, 2014 and are convertible into Elbit's ordinary shares at the price of NIS 128 per share until July 31, 2013 and at the price of NIS 200 per share thereafter until December 14, 2014. They will be listed for trade on the TASE.
Elbit Imaging Ltd. Announces Results of Tender for Institutional Investors in Proposed Debenture Offering in Israel
Elbit Imaging Ltd. announced that the tender for institutional investors in connection with a proposed public offering in Israel of additional Series F Debentures and new Series 1 Convertible Debentures, pursuant to the shelf prospectus filed on July 21, 2009, has been concluded. The final pricing information relating to the proposed public offering is as follows: - NIS 110,497 principal amount of Series F Debentures, at the price of NIS 1,086 per unit (each unit is comprised of NIS 1,000 principal amount) representing a 5.78% yield per annum and an aggregate proceeds amount of approximately NIS 120 million. The additional Series F Debentures have the same terms as the original Series F Debentures; and - NIS 89,604 principal amount of Series 1 Convertible Debentures, at the price of NIS 1,038 per unit (each unit is comprised of NIS 1,000 principal amount), with a fixed interest rate of 6.25% per annum, without linkage, representing a 5.36% yield per annum and an aggregate proceeds amount of approximately NIS 93 million. The Series 1 Convertible Debentures mature on December 31, 2014 and are convertible into Elbit's ordinary shares at the price of NIS 128 per share until July 31, 2013 and at the price of NIS 200 per share thereafter until December 14, 2014.
Elbit Imaging Ltd. Announces Tender for Institutional Investors in Proposed Public Offering of Debentures in Israel
Elbit Imaging Ltd. announced that it is conducting a tender for institutional investors in connection with a proposed public offering in Israel of additional Series F Debentures and new Series 1 Convertible Debentures, pursuant to the shelf prospectus filed on July 21, 2009. The Company is examining the possibility of enlarging the scope of the proposed offering and expects to announced the final terms of the proposed offering tomorrow. The proposed offering is being made in Israel to residents of Israel only.
