UNI - EN REPORT No33/2014
Following the Extraordinary General Meeting of the Company held earlier today, at which all resolutions to approve the Rights Offering were adopted, and the subsequent opening of the Rights Offering, the Company is pleased to announce that Elbit Ultrasound (Luxembourg) B.V. / S. à. r. l. (“EUL”), a wholly-owned subsidiary of Elbit Imaging Limited and Burlington Loan Management Limited (“BLML”), an affiliate of Davidson Kempner Capital Management LP, have made an aggregate capital injection of EUR 20 million into the Company by the deposit of funds into a third party account for the account of the Company, of which EUR 12.5 million have been deposited by EUL and EUR 7.5 million by BLML.
EUL has taken up the required number of shares immediately following the opening of the Rights Offering and, as part of the capital injection, has, together with BLML, deposited EUR 20 million up front in order to ensure that the capital injection required under the Restructuring Plan takes place before 30 November 2014. The monies have been received and are currently held in the third party account (notariële kwaliteitsrekening) of a Dutch civil-law notary, for the account of the Company. The aggregate number of shares to be issued to EUL and BLML, and the aggregate price paid by them, may be reduced, as a result of other shareholders participation in the Rights Offering and according to the provisions of the agreements between parties, EUL may require that certain number of shares will be subscribed for by and issued to BLML. Notwithstanding the foregoing, the capital injection as a result of the Rights Issue will never be less than EUR 20 million. The determination of number of relevant shares to be issued to each of EUL and BLML and the issuance and settlement of the relevant shares to EUL and BLML will take place following the closing of the Rights Offering.
The capital injection described above marks an important step in the final part of the implementation of the Company’s Restructuring Plan.
For further details, please contact:
Ran Shtarkman, President and CEO
Roy Linden, CFO
Tel: +36 1 462 7221
Tel: +36 1 462 7222
SPARK Advisory Partners Limited
Mark Brady, Partner
Neil Baldwin, Partner
Tel: +44 20 3368 3551
Tel: +44 20 3368 3554
Stephanie Highett / Dido Laurimore / Claire Turvey Tel: +44 20 3727 1000