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Elbit Imaging Ltd. (EMITF) Announces Update With Respect to Its Proposed Plan of Arrangement



6/21/2013 9:31:03 AM

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TEL AVIV, Israel, June 20, 2013 /PRNewswire/ --

Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's filing on June 19, 2013 with the Tel Aviv District Court (the "Court") of a petition requesting the Court's permission to convene meetings of its creditors and shareholders to vote upon the Company's amended plan of arrangement, that the Court has ordered all relevant parties that object to convening such meetings to file a brief position statement with the Court by 10:00 a.m. on June 25, 2013. The Court emphasized that any such position statement shall relate only to the question of whether such meetings ought to be convened on the basis of the Company's amended plan of arrangement (as opposed to opining on the merits of such plan).

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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