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Midas..when can we expect the next move up?
Elbit Imaging Announces Update Regarding the Ruling of the International Court of Arbitration in Relation to Its Subsidiary, Plaza Centers
TEL AVIV, Israel, Dec. 06, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, further to the announcement dated July 7, 2016, regarding the ruling of the International Court of Arbitration in which Plaza Centers N.V. ("Plaza") (PLAZ.L), an indirect subsidiary of the Company, was found liable for an indemnification claim in favor of Klepierre S.A. (“Klepierre”), the following:
Due to the guarantee of EI to the original transaction and according to Dutch law, EI is obliged to pay the amount determined by the International Court of Arbitration.
The Company and Klepierre reached a settlement in which, inter alia, EI shall pay Euro 1.2 million to Klepierre and Klepierre shall release all of its claims against EI, its fully owned subsidiary, Elbit Ultrasound (Luxembourg) B.V./S.À.R.L. (who was also a guarantor to Plaza) and Plaza.
In addition, Plaza paid to Klepierre the costs arising from the legal process in the amount of approximately Euro 0.6 million.
Gamida Cell Presents Positive Data From Phase 1/2 Study of NiCord® as a Curative Treatment for Sickle Cell Disease at ASH 2016
Gamida Cell Presents Positive Data From Phase 1/2 Study of
NiCord® as a Curative Treatment for Sickle Cell Disease at ASH 2016
SCD patients treated with NiCord showed rapid engraftment and were cured of disease symptoms
Jerusalem, Israel, Tuesday, December 6, 2016 --- Gamida Cell, a leader in cellular and immune therapies for the treatment of cancer and orphan genetic diseases, today announced results from its Phase 1/2 study of NiCord for Sickle Cell Disease (SCD). The data were presented during a poster session at the 58th American Society of Hematology (ASH) Annual Meeting & Exposition, December 3-5, 2016 in San Diego, CA.
The results presented at ASH demonstrated the potential of NiCord as a novel transplant approach for patients with SCD. The study provided a clinical proof of concept that NiCord, which was transplanted with an un-manipulated unit of umbilical cord blood (UCB), may enable very rapid engraftment in SCD patients transplanted after myeloablative conditioning.
The principal investigators of the study are Joanne Kurtzberg MD, Professor, Department of Pediatrics; Director, Pediatric Blood and Marrow Transplant Program and Chief Scientific and Medical Officer, Robertson Clinical and Translational Cell Therapy Program, andJoel Brochstein, MD, Chief of Division of Pediatrics - Pediatric Hematology-Oncology, North Shore University Hospital and Associate Professor, Hofstra Northwell School of Medicine.
Allogeneic hematopoietic stem cell transplant (HSCT) from a matched related bone marrow donor is the only established curative therapy for SCD to date; however, most patients in need of HSCT do not have matched donors. Banked, unrelated donor umbilical cord blood (UCB) can provide a sufficiently matched donor to practically all patients in need. However, umbilical cord blood transplants (UCBT) are associated with a highgraft failure risk in patients with hemoglobinopathies attributed to inadequate cell dose in the cord blood graft.
“The preliminary results from the Phase 1/2 study indicate that NiCordhas the potential to increase access to transplantation for SCD patients. This is very important given the difficulty for most SCD patients with finding a matched related bone marrow donor as well as the limitations associated with the transplantation of un-manipulated UCB,” said Dr. Kurtzberg.
In a poster titled Successful Engraftment and Cure of Sickle Cell Disease after Co-transplantation of NiCord® (Ex Vivo Expanded UCB Progenitor Cells with Nicotinamide) and a Second Un-manipulated Cord Blood Unit after Myeloablative Chemotherapy in Children with Severe Sickle Cell Disease, Dr. Suhag Parikh,from Duke Medical Center, presented data from nine patients, ages 3-17, who were transplanted with NiCord and an un-manipulated unit of cord blood. All nine patients engrafted. At a median follow-up of three years post-transplant, seven out of the nine patients are free of disease. Two of the nine patients have since passed away due to transplant complications.
Highlights from the Phase 1/2 study include:
· NiCord appears to overcome the engraftment barrier, with rapid engraftment achieved consistently at a median of seven days.
· None of the survivors had active GvHD at the last follow-up.
· All surviving patients are free from SCD symptoms, including transfusion independence and a normal hemoglobin profile.
“We are very encouraged with the data, reported for the first time today, indicating that NiCord enables more patients to receive a potentially curative treatment for SCD. This is consistent with the encouraging data we are seeing in patients with blood cancers, where NiCord has shown rapid and sustained engraftment, even as a sole graft source. We intend to further advance this treatment approach for SCD as well as for other rare genetic diseases, such as thalassemia, bone marrow failure syndromes and genetic metabolic diseases,” said Gamida Cell CEO Dr. Yael Margolin.
About NiCord
NiCord is a new graft modality for hematopoietic stem cell transplantation, derived from a single cord blood unit and expanded ex vivo, utilizing a small molecule as an epigenetic approach to increase the number of short and long term engrafting cells and improve their functionality. The platform technology, called NAM technology, was developed by Gamida Cell scientists and is a proprietary asset of the Company. Note: NiCord is further being developed as a standalone graft for SCD and other rare genetic diseases, and has subsequently been branded and listed on the Gamida Cell website as “CordIn™”. NiCord was recently granted an FDA Breakthrough Therapy Designation as a curative treatment for patients with hematological malignancies (blood cancers like leukemia) and is at the last stage of clinical development before commercialization for this indication.
About Gamida Cell
Gamida Cell is a world leader in cellular and immune therapies for the treatment of cancer and orphan genetic diseases. The company’s pipeline of products are in development to treat a wide range of conditions including cancer, genetic hematological diseases such as sickle cell disease and thalassemia, bone marrow failure syndromes such as aplastic anemia, genetic metabolic diseases and refractory autoimmune diseases. Gamida Cell’s current shareholders include Novartis, Elbit Imaging, Clal Biotechnology Industries, Israel Healthcare Venture, Teva Pharmaceutical Industries, Denali Ventures and Auriga Ventures. For more information please visit www.gamida-cell.com.
To request a copy of the abstract, please write to Gamida Cell’s press contact Marjie Hadad at marjierhadad@gmail.com.
Midas..are we stuck at this range for now? When you think we can expect the next move up?
Elbit Imaging Announces Availability of Investor Relations Presentation on Its Website
TEL AVIV, Israel, Dec. 05, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, that it has placed an Investor Relations Presentation on the Company's website at www.elbitimaging.com under "Investor Relations - Group Presentations - Company Presentation".
Elbit Imaging Announces Update Regarding the Termination of the Agreement With the Israel Land Authority Regarding Land Plot Near Tiberius Israel
TEL AVIV, Israel, Dec. 01, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, in further to the announcement dated July 5, 2016, regarding the termination of an agreement with the Israel Land Authority ("ILA"), according to which, EI leased a plot near Tiberius, Israel ("The Agreement") that, following the termination of the Agreement, ILA has reimbursed to the Company a gross amount of approximately NIS 17 million with respect to development fees paid by the Company.
Elbit Imaging Announces Update Regarding the Agreement to Sell Its Project in Kochi, India
TEL AVIV, Israel, Nov. 29, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, in further to the announcements dated on January 15 and October 25, 2016, regarding an agreement to waive any of its rights and interest in a special purpose vehicle which holds a land plot in Kochi, India, that the Company and the local investor has agreed that the long stop date, will be extended from November 30, 2016 to February 28, 2017.
All other terms and conditions of the agreement shall remain unchanged.
The Company will update regarding any new developments.
Elbit Imaging Ltd. Announces Refusal to the Debt Conversion Proposal From Its Subsidiary Elbit Medical Technologies Ltd and Extension to the Debt of Elbit Medical Technologies Ltd Maturity Date
TEL AVIV, Israel, Nov. 28, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (the "Company") (EMITF) (EMITF) announced today, in furtherance to its announcement dated March 17, 2016, regarding the proposal from its subsidiary, Elbit Medical Technologies Ltd. (“Elbit Medical”) to convert all the outstanding debts of Elbit Medical to the Company (the "Proposal"), which as of today amount to approximately NIS 150.24 million ($38.82) ("Elbit Medical's Debt"), that the Company's board of directors has decided to reject the Proposal.
In addition, the Company's board of directors has accepted Elbit Medical's request to extend the maturity date of Elbit Medical's Debt to the Company such that the new maturity date of all Elbit Medical’s Debt to the Company shall be April 1, 2018.
Gamida Cell Names Julian Adams, Ph.D. New Chairman of the Board
JERUSALEM, November 21, 2016 /PRNewswire/ --
Gamida Cell, a leader in cellular and immune therapies for the treatment of cancer and orphan genetic diseases, today announced the appointment of Julian Adams, Ph.D. as the Company's new chairman of the Board of Directors.
"I am very pleased to welcome Julian Adams as our new chairman after having joined our Board of Directors this past September," said Gamida Cell CEO Dr. Yael Margolin. "Gamida Cell is at a very important juncture, as we are about to begin a Phase 3 study of NiCord® for high risk blood cancers and have also recently received FDA breakthrough therapy designation for this asset. We are confident that Julian's stewardship will strongly support the success of the late stage development and commercialization of our lead product NiCord during this critical time."
Dr. Adams has more than 30 years of experience in drug discovery and development with a strong focus on cancer. He currently serves as president of research and development at Infinity Pharmaceuticals, where he is responsible for the full spectrum of drug discovery, preclinical and clinical development, and regulatory affairs activities. Prior to joining Infinity in 2003, Dr. Adams was the senior vice president of drug discovery and development at Millennium Pharmaceuticals, where he headed multiple global drug discovery and development programs, including the successful Velcade® (bortezomib) program. Dr. Adams also held senior positions in research and development at LeukoSite (acquired by Millennium) and at ProScript, as well as in medicinal chemistry at Boehringer Ingelheim, where he is credited with discovering Viramune® (nevirapine) for HIV.
Dr. Adams has won many awards, holds 40+ patents and has authored more than 100 papers and book chapters in peer-reviewed journals. He earned a B.S. from McGill University and a Ph.D. from the Massachusetts Institute of Technology. He also received a Doctor of Science, honoris causa, from McGill University in 2012.
"I am delighted to accept the appointment of chairman. Gamida Cell is on a clear path to bringing NiCord to market and filling an important unmet need in bone marrow transplantation. It is my honor to guide the success of the NiCord program as well as the other significant clinical and corporate initiatives of the company," said Dr. Adams.
About Gamida Cell
Gamida Cell is a world leader in cellular and immune therapies for the treatment of cancer and orphan genetic diseases. The company's pipeline of products are in development to treat a wide range of conditions including cancer, genetic hematological diseases such as sickle cell disease and thalassemia, bone marrow failure syndromes such as aplastic anemia, genetic metabolic diseases and refractory autoimmune diseases. Gamida Cell's current shareholders include Novartis, Elbit Imaging, Clal Biotechnology Industries, Israel Healthcare Venture, Teva Pharmaceutical Industries, Denali Ventures and Auriga Ventures. For more information please visit http://www.gamida-cell.com.
Elbit Imaging Ltd. Announces Closing of the Second Tranche of the Refinancing of the Radisson Blu Hotel in Bucharest
Elbit Imaging Ltd. ("Company") (TASE:EMITF) (NASDAQ:EMITF) announced today, further to its announcements dated March 10, 2016 and March 24, 2016, that its approximately 98% holding subsidiary, Bucuresti Turism S.A. ("BUTU") has reached the effective date for the drawdown of the second tranche of the loan in the amount of Euro 12 million under the Amended and Restated Facility Agreement between BUTU, as borrower, Raiffeisen Bank International A.G and Raiffeisen Bank S.A., leading international European banks, as lenders and the Company as guarantor. Following the drawdown, the total outstanding amount of the loan is approximately Euro 95 million.
Euro 7 million will be used by the Company for a principal payment to Bank Hapoalim B.M.
Elbit Imaging Announces Update Regarding the Agreement to Sell Its Project in Bangalore, India by Its Subsidiary, Elbit Plaza India Real Estate Holdings Limited
TEL AVIV, Israel, Nov. 16, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, in further to its announcement dated on September 30, 2016, an update regarding an agreement to sell 100% of its interest in a special purpose vehicle which holds a site in Bangalore, India, by Elbit Plaza India Real Estate Holdings Limited (in which EI holds a 50% stake with its joint venture partner, Plaza Centers N.V.) (“EPI”) to a local investor (the “Purchaser”).
The Purchaser paid an advance payment of INR 5 Crores (approximately €0.65 million) on 30 September 2016, but has informed EPI that it will not be able to execute the advance payments due, in the fourth quarter of 2016, under the Sale Agreement. The Sale Agreement determines that if the Purchaser fails to execute any of the advance payments, EPI will be able to enforce its rights under the Sale Agreement, including the execution of the Securities. Therefore, EPI is now considering its options with respect to the Sale Agreement, including, inter alia, the execution of the securities provided by the Purchaser to EPI under the Sale Agreement.
The Company will update regarding any new developments.
Elbit Imaging Ltd. Announces That INSIGHTEC's Exablate Neuro System Has Been Approved by CMS for U.S. Coverage for the Treatment of Essential Tremor
TEL AVIV, Israel, Nov. 16, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (EMITF) (EMITF) ("Elbit" or the "Company") announced today that it was informed by INSIGHTEC Ltd. ("INSIGHTEC"), that the Centers for Medicare and Medicaid Services (the "CMS") assigned a status to the Exablate Neuro treatment for Essential Tremor, moving it from a non-payable status indicator to one that allows reimbursement.
The CMS decision is one of several steps toward gaining appropriate reimbursement for MRgFUS for essential tremor. This needs to be followed by CMS regional offices approval to the reimbursement for the Exablate Neuro treatment, for their patients.
According to the CMS's recommendation, the Exablate Neuro was assigned a reimbursement code with a payment level of $9751.
The CMS is part of the U.S. Department of Health and Human Services, and it oversees, among its other functions, Medicare (the federal health insurance program for the elderly, [which are the main group of potential patients for the Exablate Neuro treatment]), and Medicare reimbursement rates for healthcare providers that use federally certified health IT systems.
At this stage, INSIGHTEC is unable to estimate the implications of the CMS's recommendation on INSIGHTEC.
INSIGHTEC’s Exablate Neuro platform is transforming medicine by presenting a non-invasive treatment alternative that combines two technologies: Focused Ultrasound, which is used to lesion the targeted tissue deep in the brain, and Magnetic Resonance Imaging (MRI), which is used to guide the ultrasound waves to the specific target tissue and provide real-time feedback on treatment progress and outcomes.
Essential tremor is the most common movement disorder, affecting millions people worldwide. It is a progressive and debilitating neurological condition that causes a rhythmic trembling of the hands, head, voice, legs or trunk.
The Company holds approximately 89.9% of the share capital of Elbit Medical Technologies Ltd. (TASE:EMTC-M) (85.6% on a fully diluted basis) which, in turn, holds approximately 31.3% of the share capital in INSIGHTEC (26.6% on a fully diluted basis).
EMITF/EMTC/InsighTec
"CMS",The Centers for Medicare and Medicaid Services,
Initial tremor treatment system using the Exablate Neuro
On the recommendation of the CMS, the treatment has been associated with insurance reimbursement code which allows a refund for $ 9,751.
(Official PR will be issued soon)
Elbit Imaging Announces Amendment to the 2014 Restructuring Plan of Its Subsidiary, Plaza Centers
TEL AVIV, Israel, Nov. 07, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, in further to its announcement dated on July 21, 2014, regarding the restructuring plan approval of Plaza Centers N.V. ("Plaza") (PLAZ.L), an indirect subsidiary (45%) of the Company, the following updates:
Under the Restructuring Plan, principal payments under the notes (both those that are traded on the Tel Aviv Stock Exchange and those held by Polish investors) issued by Plaza and originally due in the years 2013 to 2015 were deferred for a period of four and a half years, and principal payments originally due in 2016 and 2017 were deferred for a period of one year (the “Extended Repayment Schedule”).
The Restructuring Plan further provides that, if Plaza does not prepay an aggregate amount of at least NIS 434,000,000 (approximately €103 million) on the principal of the notes on or before 1 December 2016 (the “Early Prepayment”), the principal payments due under the Extended Repayment Schedule will be advanced by one year (the “Accelerated Repayment Schedule”).
Since the Restructuring Plan became effective, Plaza has made Early Prepayments of an aggregate amount of approximately NIS 142.5 million (approximately €34 million) and has repaid a total amount of approximately €71 million on account of principal and interest (on top of the issuance to the bondholders of 13.21% of its outstanding share capital). At the same time, Plaza continues to implement an aggressive cost cutting plan in order to reduce its general and administrative expenses (such expenses were reduced by approximately 20% over the mentioned period).
Plaza is currently in active negotiations on several disposal transactions with a total negotiated value of approximately €140 million (with an estimated €71 million expected net proceeds to the Company) and, although there is no certainty that the transactions will be completed, it is expected that the closing of these transactions will take place within few months after 1 December 2016.
The enforcement of the Accelerated Repayment Schedule would add significant pressure to Plaza’s liquidity and result in an acceleration of the asset sales, which is likely to have an adverse impact upon the value achieved on any disposals. The Accelerated Repayment Schedule may, therefore, adversely affect the position of Plaza’s stakeholders, including its shareholders and creditors.
Accordingly, Plaza has a strong preference to continue operating on the basis of the Extended Repayment Schedule. In order to ensure that the Extended Repayment Schedule remains applicable, in the event that the closing of the aforementioned transactions takes longer than anticipated, Plaza is proposing to seek, from its bondholders, a relaxation of the terms of the Early Prepayment required to maintain the Extended Repayment Schedule.
The proposed amendments sought by Plaza comprise the postponement of the Early Prepayment date by up to four (4) months, and the reduction of the total amount of the required Early Prepayments to at least NIS 382,000,000 (a reduction of up to 12% from the original amount) (the “Requested Amendment”). Apart from this Requested Amendment, Plaza intends to fully comply with the repayment schedule of the notes. Plaza intends to implement the Requested Amendment through a consensual process with its bondholders and will shortly be initiating discussions with its bondholders in order to seek their consent to the Requested Amendment.
Plaza has made considerable progress in creating value and generating proceeds from its assets and appreciates the continued support of its stakeholders in order to be able to continue the implementation of the approved Restructuring Plan.
The Company will update regarding any new developments.
Elbit Imaging Announces Update Regarding a Possible Forward Sale Transaction of Belgrade Plaza (Visnjicka) by Its Subsidiary, Plaza Centers
TEL AVIV, Israel, Nov. 03, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, in further to its announcement dated on October 26, 2016, that Plaza Centers N.V. ("Plaza") (PLAZ.L), an indirect subsidiary (45%) of the Company, has signed a new non-binding Letter of Intent (“LOI”) with BIG Shopping Centers Ltd., a public company listed in the Tel Aviv Stock Exchange (“TASE”) and included in the TA 100 Index (the top 100 companies traded on the TASE), (the “Purchaser”) regarding a possible forward sale of Belgrade Plaza shopping and entertainment center (“Belgrade Plaza”) in Belgrade, Serbia.
The LOI binds the Purchaser to a strict timeline for committing a comprehensive Due Diligence and finalizing a detailed binding agreement which determines that the transaction should be concluded by the end of the year. Should the transaction proceed to a signed share purchase agreement, following the due diligence process, Plaza will receive up to €28 million from the Purchaser upon the signing of the agreement as a first installment, and will be due further payments during the first year of operation, subject to certain targets and milestones fulfillment. The Purchaser will provide a guarantee to secure such further payments.
The final agreed value of Belgrade Plaza will be calculated based on a cap rate of 8.25% and the sustainable NOI after 12 months of operation (estimated NOI by the Company at that time stage is approximately €7.5 million per year). Plaza has a line of credit from a financing bank for the development of Belgrade Plaza in a maximum amount of €42 million.
While it is expected that the disposal of Belgrade Plaza will be finalized in the fourth quarter of this year, at this stage there is no certainty that the transaction will be completed.
The Company will update regarding any new developments.
Hey guys...should I still hold on to my 10,000 shares? What's the long term prognosis for this company? Anybody?
Solidifying Their Stance, Institutions Increase Activity in Elbit Imaging Ltd. (NASDAQ:EMITF)
Carlos Santiago 0 October 28, 2016
In the SEC’s latest filings, institutions owning shares of Elbit Imaging Ltd. (NASDAQ:EMITF) have increased their transactions by 12.03%. Institutions now own 25.00% of the company.
Organizations that control large sums of money, like pension funds, insurance companies or mutual funds, who buy stocks are known as institutional investors. Compared to individual investors, institutional investors trade in large blocks, 10,000 or more shares per transaction. These large trades can affect the price of a commodity significantly.
Investors look favorably upon stocks with a large amount of institutional ownership. These large entities often hire a team of analysts to perform research prior to the group purchasing a company’s stock. Because of the large research investment made, institutions aren’t quick to sell their position.
Institutions may also influence the price of a stock after acquiring a position by using TV shows, articles in high-profile newspapers or magazines and presentations at investor conferences to help drive the price higher, increasing the value of the share.
PROS AND CONS
Is institutional ownership a good thing or a bad thing? This is a matter of debate. In his best-selling book, “One Up on Wall Street”, Peter Lynch lists thirteen characteristics of “the perfect stock.” Regarding institutional ownership, he says: “Institutions don’t own it and the analysts don’t follow it”. He sees commodities that the big investment groups ignore as having the potential to be undervalued.
In comparison, William O’Neil, founder of Investor’s Business Daily, thinks that institutional investors provide the largest source of stock demand. Something needed to increase the price of a share. He says that if a stock has no institutional owners, there is a reason for it. They’ve checked it out and passed. He looks at institutional ownership as a desirable characteristic in stocks, as noted in his book, “How to Make Money in Stocks”.
Both agree that institutional ownership can be a dangerous thing because they move in and out of the market in tremendous blocks, so the stock’s value can plunge if they sell off.
TECHNICAL INDICATORS
Elbit Imaging Ltd. (NASDAQ:EMITF) stock stands -0.19% away from its 50-day simple moving average and also 34.92% away from the 200-day average. Recently, the commodity stands -4.70% away from the 52-week high and 110.38% from the 52-week low. The RSI (Relative Strength Index), an indicator that shows price strength by comparing upward and downward close-to-close movements is 51.06 for Elbit Imaging Ltd. (NASDAQ:EMITF).
Disclaimer: The advice provided on this website is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Where quoted, past performance is not indicative of future performance.
Elbit Imaging Announces Update Regarding the Negotiations on a Possible Forward Sale Transaction of Belgrade Plaza (Visnjicka) by Its Subsidiary, Plaza Centers
TEL AVIV, Israel, Oct. 26, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, in further to its announcement dated on September 29, 2016, that Plaza Centers N.V. ("Plaza") (PLAZ.L), an indirect subsidiary (45%) of the Company, has terminated the negotiations with a third party regarding a possible forward sale of Belgrade Plaza in Serbia.
Plaza is actively exploring and assessing existing alternative offers it has received on the asset and will decide in this regard shortly.
The Company will update regarding any new developments.
--------------------------------------------------------
Good Luck next time!
Elbit Imaging Announces Update Regarding the Agreement to Sell Its Project in Kochi, India
TEL AVIV, Israel, Oct. 25, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, in further to the announcement dated on January 15, 2016, regarding an agreement to waive any of its rights and interest in a special purpose vehicle which holds a land plot in Kochi, India, that the Company and the local investor has agreed that the long stop date, will be extended from October 15, 2016 to November 30, 2016.
All other terms and conditions of the agreement shall remain unchanged.
The Company will update regarding any new developments.
Elbit Imaging Announces Update Regarding the Disposal of Suwalki Plaza and Torun Plaza Shopping and Entertainment Centers in Poland, by Its Subsidiary, Plaza Centers
TEL AVIV, Israel, Oct. 18, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, in further to the announcement dated August 1, 2016, that Plaza Centers N.V. ("Plaza") (PLAZ.L), an indirect subsidiary of the Company, has signed a new non-binding Letter of Intent (the “LOI”) with a global investment fund (the “Purchaser”) regarding the sale of Suwalki Plaza shopping and entertainment center in Poland. The LOI, which binds the Purchaser to a set of strict timelines in order for the transaction to conclude during the fourth quarter of 2016, values the asset at €42.3 million. Should the transaction complete as planned, following the repayment of the existing bank loan, the expected net proceeds to Plaza are estimated at approximately €15 million.
While a non-binding Letter of Intent had previously been signed with another global investment fund, with respect to both Torun Plaza and Suwalki Plaza, as announced on August 1, 2016, this party failed to meet the agreed terms of the transaction and, therefore, its exclusivity on the sale expired. Plaza is continuing to explore options for a separate sale of Torun Plaza.
While the disposal of Suwalki Plaza is expected to be finalized in the fourth quarter of 2016, at this stage there is no certainty that the transaction will be completed.
The sale of Suwalki Plaza is consistent with Plaza's stated strategy to oversee an orderly disposal of its mature assets in order to reduce Plaza's debt levels.
FWIW:
The stock of Elbit Imaging Ltd (EMITF) shows a multiple tops pattern with $7.32 target or 91.00% above today’s $3.83 share price. The 5 months chart pattern indicates low risk for the $33.93M company. It was reported on Oct, 18 by Finviz.com. If the $7.32 price target is reached, the company will be worth $30.88 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%. The stock decreased 0.52% or $0.02 on October 17, hitting $3.83. Elbit Imaging Ltd (NASDAQ:EMITF) has risen 46.74% since March 15, 2016 and is uptrending. It has outperformed by 41.26% the S&P500.
http://www.chesterindependent.com/2016/10/18/todays-chart-on-watch-will-elbit-imaging-ltd-short-squeeze-soon-the-stock-formed-a-multiple-top/
SALE OF KIELCE PLAZA & UPDATE RE DEVELOPMENT PLOT
Thu, 13th Oct 2016 08:00
13 October 2016
PLAZA CENTERS N.V.
PRELIMINARY SALE OF KIELCE PLAZA AND UPDATE RE DISPOSAL OF GREEK DEVELOPMENT PLOT
Plaza Centers N.V. ("Plaza" or the "Company"), a leading emerging markets property developer, announces that it has signed a preliminary sale agreement for the disposal of a 2.47 hectare plot in the centre of Kielce, Poland, for ?2,280,000.
As part of the sale process, Plaza has received a down payment of ?465,000, while the remaining ?1,815,000 will be paid within eight months of this agreement.
On completion of the transaction, in line with the Company's stated restructuring plan, 75% of the net cash proceeds will be distributed to Plaza's bondholders.
The Company also announces that, further to its statement issued on 8 April 2016 regarding a pre-agreement to sell a development plot in Greece which was due to have completed within a six?month period, the purchaser has been provided with an extension to complete the transaction, to the second part of November 2016.
http://www.lse.co.uk/regulatory-news-article.asp?ArticleCode=szq8utqp&ArticleHeadline=SALE_OF_KIELCE_PLAZA__UPDATE_RE_DEVELOPMENT_PLOT
I failed to comprehend whether amounts are in USD, i would
suppose that would be the case. At any rate EMITF will PR it
as well!
The stock of Elbit Imaging Ltd (EMITF) shows a multiple tops pattern with $7.33 target or 88.00% above today’s $3.90 share price. The 6 months chart pattern indicates low risk for the $34.55M company. It was reported on Oct, 13 by Finviz.com. If the $7.33 price target is reached, the company will be worth $30.40 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%. About 9,278 shares traded hands. Elbit Imaging Ltd (NASDAQ:EMITF) has risen 44.81% since March 10, 2016 and is uptrending. It has outperformed by 37.30% the S&P500.
http://www.chesterindependent.com/2016/10/13/chart-pattern-elbit-imaging-ltd-could-help-your-portfolio-the-stock-formed-bullish-multiple-top-pattern/
FWIW
Elbit Imaging Announces the Results of Its Annual General Meeting of Shareholders Held on October 13, 2016
TEL AVIV, Israel, Oct. 13, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today that at its Annual General Meeting of Shareholders (the "Meeting") held on October 13, 2016, at the Company's offices in Petah Tiqva, the following resolutions described in the Proxy Statement to the Shareholders dated 6.9.2016 (the "Proxy") and detailed hereunder, were approved by the required majority:
An amendment to the Company's compensation policy for directors and officers.
The terms of office and employment of Mr. Ron Hadassi as the Company’s Chairman of the Board of Directors.
Engagement in a Consultancy Agreement with a Company's Director, Mr. Boaz Lifschitz.
That Messrs. Alon Bachar, Ron Hadassi, Boaz Lifschitz, Nadav Livni and Zvi Tropp are elected as directors of the Company until the close of next Shareholder's Annual General Meeting of the Company.
Approve the compensation for each of the Company's non-external directors, other than the Chairman, Mr. Ron Hadassi.
That the Company's independent auditor, Brightman Almagor Zohar & Co., a member of Deloitte, is appointed as independent auditor of the Company for the fiscal year 2016 and until the close of next Shareholder's Annual General Meeting of the Company.
Midas and serious..what's your prediction for the red of the year? $ 3 maybe?
One positive news piece, and $4.05
will be gobbled up towards my price
target.
There's a Big Dump at $4.05 (13.3K shares). It's been there sometime. I guess we'll need to clear that before we head to your $5.00 before Dec. 2016 , IMO.
"We are very pleased the FDA has recognized the potential of NiCord to address the unmet clinical need in bone marrow transplantation," said Dr. Yael Margolin, president and CEO of Gamida Cell. “The breakthrough therapy designation creates the foundation for a joint and concerted effort between the FDA and Gamida Cell to bring this important therapy faster to patients. We look forward to continuing our close cooperation with the FDA and other regulatory agencies to a positive conclusion as we prepare for commercialization."
http://www.gamida-cell.com/press_item.asp?ID=69&t=Gamida-Cell-Receives-FDA-Breakthrough-Therapy-Designation-For-NiCord%C2%AE
What is barchart?
Barchart is now 80% STRONG BUY for EMITF. It's been climbing steadily.
Midas...what's prediction for the stock price for the rest of the year? Can we hit at least $ 5 perhaps? But right now we at standstill cuz of Jewish holidays..
Note:Volume increased immediately after the PR
Peculiar Volume Noted in Session for Elbit Imaging Ltd. (NASDAQ:EMITF)CSZ Staff | October 11, 2016
Shares of Elbit Imaging Ltd. (NASDAQ:EMITF) are experiencing unusual volume during today’s trading. While the stock price moved along with the volume change, shares are touching $3.96 at the time of writing. The day’s total volume of 75227 this morning is in contrast from the three-month daily average of 20.66K. When we divide the current volume by the three-month average volume, we get a relative volume of 3.64.
Why is this important?
Trading volume is a hugely important consideration for any investor. By watching how many shares are trading hands and looking for any changes in that activity, trading opportunities can be spotted along with a deeper understanding of the reliability of other indicators on the stock. A significant increase in trading volume means that more than double the average amount of stocks are moving. When volume is decreased significantly, it may indicate there is an issue that shareholders should watch out for. It’s also important to take into consideration how long the unusual volume sustains for. If it’s only the one trading day, it can be dismissed as an anomaly.
Elbit Imaging Ltd. Announces That Gamida Cell Has Received FDA Breakthrough Therapy Designation for Nicord
Elbit Imaging Ltd. (TASE:EMITF) (NASDAQ:EMITF) ("Elbit" or the "Company") announced today that it was informed by Gamida Cell Ltd. ("Gamida"), an indirect associate of the Company, that U.S. Food and Drug Administration ("FDA") has granted Breakthrough Therapy Designation status to Gamida's NiCord® ("Nicord"), due to improvement in absorption of neutrophils blood cells in bone marrow transplant for patients with high risk hematological malignancies (blood cancers).
Breakthrough therapy designation is granted to a drug that is intended to treat serious or life-threatening diseases, and that preliminary clinical evidence indicates that the drug may demonstrate substantial improvement on a clinically significant endpoint(s) over available therapies.
A breakthrough therapy designation entitles the company to various benefits, such as: intensive FDA guidance, involvement of senior FDA managers in the process, option for a FDA rolling review of Nicord marketing approval application in the U.S (i.e. the FDA may agree to review parts of the application file which are submitted in phases, with no obligation of filling the whole file prior to the review commencement).
Gamida is engaged in developing cellular and immune therapies for the treatment of cancer and orphan genetic diseases. Gamida's products are examined via clinical trials for treatment of patients with hematological malignancies (blood cancers) such as leukemia and lymphoma and genetic hematological diseases such as sickle cell disease and thalassemia.
At this stage, Gamida is unable to estimate the implications of the Breakthrough Therapy Designation regarding the future development of Nicord. In addition, as of today, the development of Nicord is not completed and there is no certainty that Nicord will be marketed on a commercial basis.
The Company holds approximately 89.9% of the share capital of Elbit Medical Technologies Ltd. (TASE:EMTC-M) (86.2% on a fully diluted basis) which, in turn, holds approximately 25% of the share capital in Gamida (22.5% on a fully diluted basis).
Sounds good to me!
Gamida received FDA classification
of "breakthrough treatment"
The company owned by Elbit Medical (25%) received
the classification for the Nicord due to improved absorption of blood cells in bone marrow transplantation in patients with malignant blood diseases
Elbit Medical Technologies reports that Gamida Ltd. held by the Company at the rate of 25% (22.5% fully diluted), announced that the Food and Drug Administration (FDA) has granted the classification of "breakthrough treatment" of the drug Nicord due to improved absorption of neutrophil blood cells by bone marrow transplant in patients with malignant blood diseases.
[Google auto translate]
Hi guys!!! ...looks like the company making all the right moves..gonna stay long term...holding 10,000 shares at $ 6.50 tho..yea I know????????..you guys think this baby will hit double digits ever? Honest...
True, InsighTec involved on further
applications and Gamida Cell deep in
the two clinical studies:
NiCord for the treatment of blood cancers such as leukemia and lymphoma
NiCord for the treatment of pediatric sickle cell disease
Looking good! I may add some more next week.
IMO, clean up the real estate side, focus is then on medical divisions.
3 news items within 24 hours,
quite an unusual event for
the company!
Elbit Imaging Announces Update Regarding the Agreement to Sell Its Project in Bangalore, India by Its Subsidiary, Elbit Plaza India Real Estate Holdings Limited
TEL AVIV, Israel, Sept. 30, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, in further to its announcement dated on December 2, 2015, regarding an agreement to sell 100% of its interest in a special purpose vehicle which holds a site in Bangalore, India by Elbit Plaza India Real Estate Holdings Limited (“EPI” - a joint venture company of EI and its 45% subsidiary, Plaza Centers N.V.) to a local investor , the following matters:
The Sale of the project in Bangalore has not been completed until the long stop date, September 30, 2016 (the "LSD").
As a result, the Company and the Local Investor has reached these preliminary understandings:
a. The Local Investor will pay EPI an advance payment of 5 Crore Rupees (approximately €0.65 million) prior to 30.9.2016.
b. The securities provided by the Local Investor to EPI under the Sale Agreement will remain effective and unchanged (the "Securities").
c. Subject to the payment of the First Advance Payment, the LSD will be extended until November 15, 2016.
d. The Local Investor will pay additional advance payments (the "Additional Advance Payments") as follows:
i. 32 Crore rupees (approximately €4.3 million) in two instalments during the fourth quarter of 2016.
ii. Additional 22.5 Crore rupees (approximately €3 million) during the second quarter of 2017.
e. Subject to the execution of all the Additional Advance Payments, the LSD will be extended until September 15, 2017.
f. If the Local Investor will fail to execute any of the advance payments, than EPI shall be able to enforce its rights under the Sale Agreement including the execution of the Securities.
At this preliminary stage, there is no definitive agreement between EPI and the Local Investor and there is no certainty that any of the aforementioned understandings will be executed.
In case the parties will not reach such final agreement, EPI will consider its further steps with respect to the Sale Agreement, including, inter alia, the execution of the Securities.
The Company will update regarding any new developments.
Elbit Imaging Ltd. Announces Notes Buyback.
https://globenewswire.com/news-release/2016/09/29/875838/0/en/Elbit-Imaging-Ltd-Announces-Notes-Buyback.html
Exactly what Midas likes to hear
Elbit Imaging Announces Negotiations on a Possible Forward Sale Transaction of Belgrade Plaza (Visnjicka) by Its Subsidiary, Plaza Centers
TEL AVIV, Israel, Sept. 29, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today that Plaza Centers N.V. ("Plaza") (PLAZ.L), an indirect subsidiary (45%) of the Company, has signed a non-binding Letter of Intent (“LOI”) with a third party (the “Purchaser”) regarding a possible forward sale of the Belgrade Plaza shopping and entertainment center in Belgrade, Serbia.
Under the terms of the proposed transaction, Plaza will complete the development of the property and will remain as the asset manager of the operating shopping center for 12 months thereafter, during which time Plaza will seek to further increase the rental income and Net Operating Income (“NOI”).
Under the terms of the LOI, upon the closing of the definitive agreement, Plaza will receive up to €35 million from the Purchaser and will be entitled to an additional payment of approximately €15 million upon the opening of the shopping center.
The final agreed total value of the asset will be calculated based on the sustainable NOI after 12 months of operation, capitalized at agreed yield and subject to customary working capital adjustments.
The expected transaction closure is in the fourth quarter of this year; however, at this stage there is no certainty that the transaction will be completed.
The Belgrade Plaza (Visnjicka) shopping center is currently the largest development underway in Serbia, where the capital city, Belgrade, is experiencing strong market demand due to its given large catchment area of approximately 1.7 million people?.
The construction of the Project is in advanced stages and the shopping center is on schedule to be open in the first half of 2017 and is currently over 50% pre-let. Upon completion of the project, Belgrade Plaza will comprise approximately 32,000 sqm of GLA and will be anchored by a supermarket, a multi-screen cinema complex and major international and local brands.
Does anyone know why the volume at TASE been very low last couple of days? Is it because of Jewish holidays coming up? TIA
Midas and serious..have you gotten the annual shareholders meeting package in the mail yet? Scheduled for October 13...nothing earth shattering though..you guys planning to attend? I now have 10,000 shares at $ 6.50 ????????
Midas ...I'm with you all the way brother ..2 questions...what ever happened to the old yahoo message board and what's your take on the company future and the stock price? Will it ever go up to double digits? TIA
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