TEL AVIV, Israel
February 28, 2013
Elbit Imaging Ltd. ("EI"
"Company") (TASE, NASDAQ: EMITF)
announced today that the Company's controlling shareholders, Europe-Israel MMS Ltd. ("
") and Mr.
, have notified the Company that Bank Hapoalim (the "
") has taken legal action to foreclose on its liens on the assets of Europe Israel, including the shares of the Company, securing Europe Israel's obligations under the loan agreement with the Bank. Europe
and Mr. Zisser have also notified the Company that they utterly reject the Bank's claims and intend to vigorously defend their rights.
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
, 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
- Hotel operation and management; (iv)
- (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)
- Initiation, construction and sale of residential projects and other mixed-use real property projects, predominately residential, located primarily in
- Distribution and marketing of fashion apparel and accessories in
; and (vii)
- venture capital investments.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995