Affiliate Of Europe Israel M.M.S. Ltd. Purchased Over 10% Of Elbit Medical Imaging Ltd. Ordinary Shares.--(BW HealthWire)--March 3, 1999-- Elbit Medical Imaging Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : EMITF EMITF European Microsoft Information Technology Forum ) (the "Company") announced that it received a notice on March 2, 1999 that Control Centers Ltd., the company that controls Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). Israel Israel, in the BibleIsrael (ĭz`rēəl, ĭz`rāəl) [as understood by Hebrews,=he strives with God], according to the book of Genesis, name given to Jacob as eponymous ancestor of the Hebrews, the chosen people of God. (M.M.S.) Ltd., purchased from current shareholders of the Company 2,221,151 of the Company's Ordinary Shares, representing approximately 10.2% of the issued and outstanding shares of the Company. The sale was privately negotiated at an average price per share of approximately 46.9 NIS Niš or Nish (both: nēsh), city (1991 pop. 175,391), SE Serbia, on the Nišava River. An important railway and industrial center, it has industries that manufacture textiles, electronics, spirits, and locomotives. (US$ 11.6). On February 25, 1999, Europe Israel (M.M.S.) Ltd. entered into an agreement to purchase all of the Company's Ordinary Shares owned by Elron Electronic Industries Ltd., which constituted 8,575,448 Ordinary Shares or 39.39% of the Company's outstanding stock. When this sale closes, which is expected at the end of March, Europe Israel (M.M.S.) Ltd. and Control Centers Ltd. together will control 49.6% of the issued and outstanding shares of the Company. Oded Tamir, Vice President Finance and CFO See Chief Financial Officer. Forward looking statements with respect to the Company's business, financial condition and results of operations in this release, are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward looking statements, including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies as well as certain other risk factors which are detailed from time to time in the Company's SEC filings. |
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