Elbit debtholders to vote on arrangement July 18, shareholders Aug. 19

By Caroline Salls

Pittsburgh, July 12 - Elbit Imaging Ltd. scheduled an extraordinary meeting of shareholders for Aug. 19 to approve the company's debt arrangement, according to a news release.

The record date for the meeting is July 17. However, Elbit said the votes of those who hold shares through a member of the Tel Aviv Stock Exchange Clearinghouse are due on July 18.

Shareholders will be asked to vote on the company's proposed plan of arrangement for its unsecured debt, as well as a plan of arrangement proposed by some representatives of Elbit's series C to series G and series 1 noteholders.

However, the company said it plans to remove one of the proposals for the agenda of the shareholders' meeting following July 18 unsecured debtholders' meetings.

Elbit said that its board of directors recommends a vote for the company's proposal and against the representatives' proposal.

The arrangement is also subject to approval of the Tel Aviv Stock Exchange, as well as court approval.

Tel Aviv-based Elbit Imaging is a holding company with activities in the fields of commercial and entertainment centers, hotels, image-guided treatment, residential real estate and fashion retail.

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