"There has been an active rumor mill in the capital market about debts to Bank Hapoalim (TASE: POLI), among other things. Before I begin, I advise the bondholders and shareholders not to be dragged after rumors or partial valuations, and to review their measures on a factual basis, financial figures, and the company's business performance," Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) chairman Mordechay Zisser in a statement to the real estate company's bondholders and shareholders.
"I wish to make it clear that my private companies have diversified assets which can solve the issue with Bank Hapoalim to all the parties' satisfaction, and I am now working ceaselessly to achieve this. I scrupulously maintain total separation between Elbit Imaging and my private businesses," Zisser added.
Zisser said that global markets have been in severe crisis for the past three years, during which time Elbit Imaging did not distribute any dividends, in order to maintain financial soundness. "These criteria will serve as Elbit Imaging's guiding light in the future, as well. Elbit Imaging was, and will remain, a liquid and health company with diversified and attractive core businesses."
Elbit Imaging owns income-producing real estate in Israel, the US, and Europe, both directly and through Plaza Centers NV (LSE:PLAZWSE:WLZ). The company also has a medical devices arm, Elbit Medical Technologies Ltd. (TASE:EMTC).
Elbit Imaging's share price rose 3.5% on Nasdaq on Friday to $6.78, giving a market cap of $168 million, but reversed early gains to fall 2.9% in early trading on the TASE today to NIS 21.85.
Published by Globes [online], Israel business news - www.globes-online.com - on June 5, 2011
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