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Elbit Imaging Ltd. (EMITF) Announces Results of Its General Meeting


10/1/2013 9:25:21 AM

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TEL AVIV, Israel, October 1, 2013 /PRNewswire/ --

Elbit Imaging Ltd. (NASDAQ: EMITF) ("EI" or the "Company") today announced the results of the General Meeting of its shareholders held September 30, 2013, in Bnei-Brak, Israel. At the meeting, Proposal No. 2 as set forth in EI's proxy statement dated August 26, 2013, namely, the reelection of Mr. Zvi Tropp as one of the Company's external directors, whose previous term has recently expired, was duly approved.

It is noted, further, that all the other items on the agenda of the meeting were withdrawn and were not tabled to the vote. Accordingly, the general meeting was classified as an Extraordinary General Meeting of Shareholders for the sole purpose of reelecting Mr. Zvi Tropp as aforesaid, and not as an Annual General Meeting. Items No. 1, 3 and 4 were removed from the agenda as such items contradicted the motion to approve the plan of arrangement with the holders of the Company's unsecured financial debt, as adjusted in accordance with the agreements reached between the Company and certain major noteholders, trustees and noteholders' representatives, that was filed with the Tel-Aviv District Court on September 18, 2013, inter alia, with respect to the nomination of new directors promptly following the consummation of the arrangement.

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, the Company operate and manage commercial and entertainment centers prior to their sale; (ii) Hotels - Hotel operation and management; (iii) 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; (iv) Residential Projects - Initiation, construction and sale of residential projects and other mixed-use real property projects, predominately residential, located primarily in India; and (v) Fashion Apparel - Distribution and marketing of fashion apparel and accessories in Israel.

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