|End-of-day quote - 12/02|
El-Mor Electric Installation & Services Ltd. agreed to acquire 22.2% stake in ITEEO Ltd. from ITEEO shareholders for ILS 2.8 million.08/12/2019 | 12:00am
El-Mor Electric Installation & Services (1986) Ltd. (TASE:ELMR) agreed to acquire 22.2% stake in ITEEO Ltd. from ITEEO shareholders for ILS 2.8 million on August 12, 2019. Under the terms of the transaction, as a first step the Company shall purchase 4,880 ordinary shares for ILS 2.8 million, and it will be given the option for the purchase of 4,879 shares more in exchange for payment of ILS 3.1 million. The said option will be valid for 24 months since completion of the purchase of the 4,880 ordinary shares. The El-Mor Electric Installation & Services (1986) Ltd. will purchase 2,069 ITEEO shares from an ITEEO shareholder. The remaining shares to be purchase amount to 2,811 and will be purchased from an additional ITEEO shareholder.
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