Elscint Clarifies Terms for Participation in Joint Venture for Television Channel Tender
14 December 2004 - 2:09AM
PR Newswire (US)
Elscint Clarifies Terms for Participation in Joint Venture for
Television Channel Tender TEL AVIV, Israel, Dec. 13
/PRNewswire-FirstCall/ -- Elscint Limited (NYSE: ELT) (the
"Company") hereby clarifies that, further to its announcement of
November 30th, 2004 regarding the joint participation of the
Company and Elbit Medical Imaging ("EMI"), the controlling
shareholder of the Company, in the joint venture which intends to
participate in the tender for a license for the operation of
Israel's Channel 2 television channel (the "Transaction"), the
participation of the Company in the Transaction was approved by the
competent decision making bodies of the Company in accordance with
the provisions of Section 1(4) of the Companies Regulations (Relief
for Transactions with Interested Parties) of 2000. Accordingly, the
Company's Audit Committee and Board of Directors have both approved
the Transaction and determined that the terms of the Transaction
with respect to the Company do not differ in any material respect
from the terms of the Transaction with respect to EMI, taking into
consideration the Company's and EMI's identical proportional share
in the Transaction. Elscint Limited has interests in hotels in
Western Europe, in hotel development projects principally in
Western and Central Europe and in the "Arena" commercial and
entertainment center at Herzlia Marina in Israel. More information
regarding the Company is available at: http://www.elscint.net/ This
release contains certain forward-looking statements 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. For Further Information:
Company Contact Investor Contact Marc Lavine, Adv. Rachel Levine
Elscint Limited The Anne McBride Company + 972-3-608-6001 +
212-983-1702 x207 DATASOURCE: Elscint Limited CONTACT: Marc Lavine,
Adv., Elscint Limited, +972-3-608-6001, ; Investors, Rachel Levine,
The Anne McBride Company, +1-212-983-1702 x207, , for Elscint
Limited Web site: http://www.elscint.net/
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