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Elbit Systems — Major Shareholding Notification 2004
Jul 28, 2004
6762_rns_2004-07-28_41b6aed9-c495-43b3-90b3-ed9a69d32410.pdf
Major Shareholding Notification
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Elbit Systems Ltd
Elron Sells All of Its Holdings in Elbit Systems to Federmann Enterprises for Approximately $197 Million
Haifa, July 28, 2004 – Elbit Systems Ltd. (NASDAQ:ESLT) (the “Company”) today reported that Elron Electronic Industries Ltd. (NASDAQ ELRN) (“Elron”), completed today the sale of all of its holdings in the Company, constituting approximately 19.6% of the Company’s outstanding share capital, to Federmann Enterprises Ltd., in consideration for approximately $197 million.
The transaction was consummated following the exercise by Federmann Enterprises Ltd. of its right of first refusal as a result of the agreement signed on July 8, 2004 between Elron and Tadiran Communications Ltd.
As a result of the sale, the Federmann Group is the beneficial owner of approximately 49.8% of the Company’s outstanding shares.
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 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 [email protected]
IR Contacts Ehud Helft/Kenny Green
Gelbart Kahana Tel: 1-866-704-6710 Fax: 972-3-607-4711 [email protected] [email protected]
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.