Key Developments For FORMOLA MA`ARAHOT (1985) BE`AM
FORMOLA MA`ARAHOT (1985) BE`AM (FORTY.O) (Consolidated Issue listed on NASDAQ Global Market)
Formula Systems (1985) Ltd. Announces Sale Of Subsidiary nextSource
Formula Systems (1985) Ltd. announced the sale of its entire shareholdings in nextSource Inc.. The consideration of $12 million, is composed of cash and the release of pledged bank deposits.
Formula Systems (1985) Ltd. Announces CFO Resignation
Formula Systems (1985) Ltd. announced that Ms. Naamit Salomon has decided to leave her position as Chief Financial Officer (CFO).
Formula Systems (1985) Ltd. Announces Filing Of Draft Prospectus In Israel
Formula Systems (1985) Ltd. announced that it has filed a draft prospectus with the Israeli Securities Authority and the Tel Aviv Stock Exchange relating to a proposed public offering of debentures in Israel. The Company currently intends to use the net proceeds from the proposed offering for general corporate purposes, which may include future acquisitions and financing its operating and investment activity.
Formula Systems (1985) Ltd. Announces Distribution Of $2.27 Per Share Cash Dividend To Its Shareholders
Formula Systems (1985) Ltd. announced that its Board of Directors has approved the distribution of a cash dividend to the holders of Formula ordinary shares, payable on January 29, 2009, with respect to each outstanding Formula ordinary share held as of the close of business day on January 12, 2009. The cash distribution will be in the amount of $2.27 per share, or $30 million in the aggregate. The ex-dividend date for the purpose of trading of the ordinary shares on the Tel Aviv Stock Exchange and the American Depository Shares (ADSs) on the NASDAQ, is January 13, 2008.
Formula Systems (1985) Ltd. Appoints Naftali Shani As Chairman
Formula Systems (1985) Ltd. announced that Mr. Naftali Shani was appointed as Director and Chairman of the Company as of January 1, 2009. In addition, Mr. Guy Bernstein has resigned from his position as Director with immediate effect and will continue to carry his position as Chief Executive Officer of the Company.
