Elbit Ltd. Notifies End of Its Warrants -Series 2- Exercise Period.HAIFA, Israel--(BUSINESS WIRE)--Aug. 10, 1998--Elbit 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 : ELBTF) announced notice that the exercise period for the Company's Warrants (Series 2) will end on September 1, 1998. Following this date the Warrants (Series 2) will expire and will not bear any rights whatsoever. For each exercised Warrant (Series 2), the holder will receive one ordinary share of the Company, 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. 0.003 par value, one ordinary share of Elbit Systems Elbit Systems Ltd. NASDAQ: ESLT is one of Israel's largest defense electronics manufacturers and integrators. Established in 1967, and based in Haifa, Israel, Elbit has over 8,000 employees. Ltd., NIS 1 par value (NASDAQ: ESLTF), and one ordinary share of Elbit Medical Imaging Ltd., NIS 1 par value (NASDAQ: EMITF EMITF European Microsoft Information Technology Forum ). The exercise price of each Warrant (Series 2) at the date of this notice is US $22.80 at the representative rate of exchange known on the exercise date, all subject to the Company prospectus dated August 15, 1994. Elbit Ltd. continues its strategic focus through HyNEX and CableTel. HyNEX continues to develop products based on ATM technology and CableTel to develop a telephony Meaning "sound over distance," it refers to electronically transmitting the human voice. In the beginning, telephony dealt only with analog signals in the circuit-switched networks of the telephone companies. system over CATV (Community Antenna TV) The original name for cable TV. It used a single antenna at the highest location in the community in order to deliver a quality signal to homes in areas with hilly terrain or other interference. infrastructure. This release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which involve known and unknown risks, uncertainties or other factors not under the Company's Control, which may cause actual results, performance or achievements of the Company to be materially different from the results performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.
CONTACT: ELBIT LTD.
Tal Peretz Raz
Vice President and CFO
011-972-9-970-4100; 011-972-9-970-4200 FAX
e-mail: raz@elbitcom.co.il
or
WOLFE AXELROD ASSOCIATES
Stephen D. Axelrod, CFA
Nancy S. L. Block
Susan T. Bolen (Media)
212-370-4500; 212-370-4505 FAX
mail: steve@wolfeaxelrod.com
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion