Elbit Systems Shareholders Approve the Agreements Related to the Purchase of Elisra and Tadiran Communications Shares From Koor
August 24 2005 - 4:14AM
PR Newswire (US)
HAIFA, Israel, August 24 /PRNewswire-FirstCall/ -- Elbit Systems
Ltd. (the "Company") (Nasdaq NM: ESLT) announced that at its
Extraordinary General Meeting of Shareholders held on August 23,
2005 at the Company's offices in Haifa, the proposed resolution
described in the Proxy Statement to Shareholders dated August 2,
2005, was approved by the required majority. The resolution
approved at the meeting was the approval and ratification of the
agreements entered into by the Company on July 6, 2005 regarding
the purchase from Koor Industries Ltd. ("Koor") of its ordinary
shares in Elisra Electronic Systems Ltd. ("Elisra"). Also approved
was the ratification of the amendment agreement entered into on
July 6, 2005 by the Company and Koor, relating to the amended share
transfer and amended shareholder agreement, amending the original
agreements entered into on December 27, 2004 regarding the
Company's purchase of Koor's ordinary shares in Tadiran
Communications Ltd. ("Tadiran"). This approval by the Company's
shareholders of the agreements relating to the purchase of the
Elisra and Tadiran shares is one of the conditions required for the
completion of the transaction relating to the purchase of the
Elisra and Tadiran shares. The transaction had previously been
approved by the Company's Audit Committee and Board of Directors.
The parties are in the process of obtaining the remaining required
approvals to complete the transaction. About Elbit Systems Elbit
Systems Ltd. is an international defense electronics company
engaged in a wide range of defense-related programs throughout the
world, in the areas of aerospace, land and naval systems, command,
control, communications, computers, intelligence, surveillance and
reconnaissance ("C4ISR"), advanced electro-optic and space
technologies. The Company focuses on the upgrading of existing
military platforms and developing new technologies for defense and
homeland security applications. For more about Elbit Systems,
please visit our website at http://www.elbitsystems.com/ Contacts
Company contact Ilan Pacholder, Corporate Secretary and VP Finance
& Capital Markets Elbit Systems Ltd. Tel: +972-4-831-6632 Fax:
+972-4-831-6659 IR Contacts Ehud Helft/Kenny Green GK International
Tel: +1-866-704-6710 Fax: +972-3-607-4711 STATEMENTS IN THIS PRESS
RELEASE WHICH ARE NOT HISTORICAL DATA ARE 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. DATASOURCE: Elbit Systems Ltd. CONTACT: Contacts:
Company contact, Ilan Pacholder, Corporate Secretary and VP Finance
& Capital Markets, Elbit Systems Ltd., Tel: +972-4-831-6632,
Fax: +972-4-831-6659, . IR Contacts, Ehud Helft/Kenny Green, GK
International, Tel: +1-866-704-6710, Fax: +972-3-607-4711, ,
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