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Stock Market & Financial Investment News

News Breaks
August 14, 2014
06:49 EDTEMITFElbit 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.
News For EMITF From The Last 14 Days
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October 12, 2014
12:19 EDTEMITFElbit Imaging begins negotiations for sale of operation of Mango retail stores
Elbit Imaging announced that following its previous announcement dated September 29, that its subsidiary Elbit Fashion received from PUNTO FA, S.L written notice of its intention not to extend the term of the franchise rights of Elbit Fashion for operation of the "Mango" retail stores in Israel, that Elbit Fashion and the company are negotiating with Fox-Wisel and Punto the purchase of the operation of the Mango retail stores by Fox-Wisel. The consideration expected under the Transaction is estimated at approximately NIS 28M in addition to the price of Elbit Fashion's inventory that will be transferred to Fox-Wisel. The negotiations are expected to be consummated at the end of November.The closing of the transaction will be conditioned upon the approval of the Israeli Antitrust Authority as well as the satisfaction of certain conditions precedent as shall be set forth in the definitive agreements.

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