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TEL AVIV, Israel,
February 19, 2013 /PRNewswire/ --
Elbit Imaging Ltd. ("EI" or the
"Company") (TASE, NASDAQ: EMITF) announced today, further to its announcement dated
February 5, 2013, that its Board of Directors had decided, after assessment of the Company's current situation, taking into account the needs of the Company, the complexity of the negotiation process in reaching an agreement with all the relevant parties about a possible restructuring, and the divergent positions of various parties in respect to the payment of interest to the note holders, to currently suspend also the interest payments to all note holders, and to re-assess the situation as it develops from time to time.
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)
U.S. Real Property - Investment in commercial real property in
the United States; (iii)
Hotels - Hotel operation and management; (iv)
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; (v)
Residential Projects - Initiation, construction and sale of residential projects and other mixed-use real property projects, predominately residential, located primarily in
Fashion Apparel - Distribution and marketing of fashion apparel and accessories in
Israel; and (vii)
Other Activity - venture capital investments.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995