Elron Electronic Industries (ELRN) Corporate Event Announcement Notice - Zibb.com

Nov 04, 2009 (Wall Street Horizon via COMTEX) --

Elron Electronic Industries (ELRN)

Expected next earnings release:
Announcement date: 11/12/2009 - Before Market
Earnings Quarter: Q3
Announcement Status: Unconfirmed

Tags: corporate   earnings   market  

Companies: Elron Electronic Industries (ELRN), Elron Electronic Industries, Ltd. (ELRN)

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Elron Announces Completion of Sale of Its Holdings in Netvision - Zibb.com

TEL AVIV, Israel, Oct 29, 2009 (BUSINESS WIRE) --

Elron Electronic Industries Ltd. (NASDAQ:ELRN)(TASE:ELRN) today announced that, further to its announcement on August 19, 2009 and subsequent announcements in relation to the sale of its holding in NetVision Ltd. ("NetVision") to Discount Investment Corporation Ltd. ("DIC") and Clal Industries and Investments Ltd. ("CII"), the aforementioned sale has been completed today, following approval of the sale earlier today by the shareholders of each of Elron, DIC and Clal.

As a result of the sale, Elron received proceeds of approximately NIS 228.7 million (currently equal to approximately $60.9 million) and will record in the fourth quarter of 2009 a gain of approximately $29 million. The amount of this gain has been determined based on NetVision's shareholder's equity as of June 30, 2009 and is subject to adjustment according to NetVision's shareholder's equity as of the date of completion of the sale which is not yet known.

Elron Electronic Industries Ltd. 
Rinat Remler, Vice President & CFO 
Tel. 972-3-6075555 
elron@elron.com 
www.elron.com

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Tags: communications   equity   israel   medical   nasdaq   semiconductors   technology  

Companies: Discount Investment Corp., Ltd. (DCOEF), Elron Electronic Industries (ELRN), Elron Electronic Industries, Ltd. (ELRN)

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Elron Announces Update in Connection with the Sale of Its Holding in NetVision - Zibb.com

TEL AVIV, Israel, Oct 22, 2009 (BUSINESS WIRE) --

Elron Electronic Industries Ltd. (NASDAQ:ELRN)(TASE:ELRN) today announced that, further to its previous announcement on August 19, 2009 in relation to the sale of its holding in NetVision Ltd. ("NetVision") to Discount Investment Corporation Ltd. ("DIC") and Clal Industries and Investments Ltd. ("CII") and further to other previous announcements in relation to the aforementioned sale, NetVision informed Elron that the consents to the sale, required under NetVision's and its subsidiaries' licenses (including from the Israeli Ministry of Communications), have been obtained and thus, one of the conditions to closing the aforementioned sale has been fulfilled. The completion of the sale is subject to obtaining the respective shareholder approvals of Elron, DIC and CII, as set forth in the sale agreement attached as Exhibit A to Elron's proxy statement filed on August 26, 2009. General Meetings of shareholders are scheduled to take place on October 29, 2009 at which the shareholders of each of Elron, DIC and CII shareholders will be asked to approve the sale.

There is no assurance of the completion of the sale.

Rinat Remler, Vice President & CFO 
Elron Electronic Industries Ltd. 
Tel. 972-3-6075555 
elron@elron.com 
www.elron.com

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Tags: communications   israel   licenses   medical   nasdaq   semiconductors   technology  

Companies: Discount Investment Corp., Ltd. (DCOEF), Elron Electronic Industries (ELRN), Elron Electronic Industries, Ltd. (ELRN)

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Elron Announces Update in Connection with Special General Meeting to Be Held on October 29, 2009 -

TEL AVIV, Israel, Oct 20, 2009 (BUSINESS WIRE) --

Elron Electronic Industries Ltd. (NASDAQ:ELRN)(TASE:ELRN) today announced that, further to Elron's previous announcements (1) on September 29, 2009, publishing proxy materials in connection with its Special General Meeting of shareholders scheduled to take place at 10:30am on October 29, 2009 at which shareholders will be asked to approve the sale of the Company's holding in NetVision Ltd. ("NetVision") to Discount Investment Corporation Ltd. and Clal Industries and Investments Ltd. and (2) on September 23, 2009 stating that NetVision announced that it is in very preliminary stages of examining possibilities of a business combination with Cellcom Israel Ltd., Elron has received certain supplemental information.

According to a supplemental report received on October 19, 2009, from the independent appraiser, Kesselman Finance PricewaterhouseCoopers Ltd., which provided a valuation of NetVision in connection with the proposed transaction, and a clarification received on October 20, 2009, from the independent expert, Deloitte Economic Consulting Services (1986) Ltd., which provided a fairness opinion with respect to the transaction price, the conclusions set forth in each of the said valuation and fairness opinion remain unchanged. A brief summary of the valuation and the complete fairness opinion were attached to Elron's proxy materials filed with the U.S. Securities and Exchange Commission and the Israeli Securities Authority on August 26, 2009. The aforementioned supplemental report and clarification will be filed under Form 6-K with the U.S. Securities and Exchange Commission and will be made available on the U.S. Securities and Exchange Commission's website at http://www.sec.gov and a corresponding filing will be made with the Israel Securities Authority and made available on the Israel Securities Authority's website at http://www.magna.isa.gov.il.

Elron Electronic Industries Ltd. 
Rinat Remler, Vice President & CFO 
Tel. 972-3-6075555 
elron@elron.com

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Tags: business   communications   finance   israel   medical   nasdaq   publishing   securities   semiconductors   technology  

Companies: Discount Investment Corp., Ltd. (DCOEF), Elron Electronic Industries (ELRN), Elron Electronic Industries, Ltd. (ELRN)

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