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Tuesday, July 04, 2017 12:29:53 AM
TEL AVIV, ISRAEL / ACCESSWIRE / July 3, 2017 / Elbit Imaging Ltd. ("EI" or the "Company") (EMITF) (EMITF) announced today that at its bondholders meetings (one meeting for series "H" bondholders and second meeting for series "I" bondholders) held on June 27, 2017, the resolution to approve an extension to submit the Company's annual financial statements for the year of 2016 until December 31, 2017 and to waive the bondholders' immediate repayment right, pursuant to the delay in publications of the financial statements (the "Resolution"), was not approved by the required majority of the series "I" bondholders.
Series "H" bondholders did approve the Resolution by the required majority. However, their approval is not valid so long as the series "I" bondholders do not approve the Resolution. The trustee for the series "H" bonds informed the Company that the approval will become valid if the series "I" bondholders will approve the Resolution by July 13, 2017. The trustee for the Series "I" bonds has called for an additional bondholders meeting to again request the approval of the Resolution to be held on July 10, 2017 (the "Additional Meeting"). The trustee for the series "I" bonds has notified the Company that if the Additional Meeting will not approve the Resolution, the trustee for the series "I" bonds will convene an additional meeting for the series "I" bondholders to decide whether or not to request an immediate repayment of the Series "I" bonds.
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