Elbit Imaging unit sells 1.7M shares of PPHE Hotel Group for GBP6M Elbit Imaging announced that its wholly owned subsidiary entered into a transaction for the sale of 1.7M shares of PPHE Hotel Group for a net consideration of GBP 6M or U.S $10.2M. The transaction's settlement date is expected to occur at July 8.
News For EMITF From The Last 14 Days
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Elbit Imaging approves one-for-twenty reverse share split Elbit Imaging's shareholders approved a one-for-twenty reverse share split of the company's ordinary shares. The previously announced split will become effective at 5:00 p.m. NY time on Thursday, August 21, such that the shares will start trading on a reverse split-adjusted basis upon the open of trading on the NASDAQ Global Select Market on Friday, August 22. The reverse share split is intended to increase the per share trading price of the company's ordinary shares to satisfy the $1.00 minimum bid price requirement for continued listing.