Archiv

DGAP-Adhoc: Metis Capital Ltd.: Negotiations to purchase two hotels in Vienna

27.11.2007
Metis Capital Ltd. / Miscellaneous 27.11.2007 Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- Tel Aviv/ Israel; November 27, 2007 - Metis Capital Ltd. (Prime Standard: EIC; TASE: MTSC) hereby announces that it is negotiating the purchase of two hotels, in two separate transactions, located at central Europe to be executed by its wholly owned subsidiary, Metis Capital Real Estate Ltd., as follows: 1. A hotel in Vienna at a cost of approximately 7 million Euros (not including taxes and other expenses). Metis Real Estate will additionally pay a finder's fee in a rate of 1.5% of the purchase cost. The Company estimates that the closing of the purchase, following a due diligence and the negotiation finalization (assuming the conditions will be agreed upon), will take place not later late than December 2007. The hotel is a 4 star hotel built in 1970 and renovated in 2005. The hotel contains 77 rooms, an underground parking, a lobby entrance, a dining room and a convention hall. 2. A hotel in Vienna (at a progressing construction process) at a cost of approximately 7.5 million Euros (not including taxes and other expenses). Metis Real Estate will additionally pay a finder's fee of 575,000 euros for consulting services and for services connected with obtaining bank financing for the purchase. The purchase cost, as well as the mediation cost, will be paid upon construction finalization in late August 2008. The Company estimates that the closing of the hotel purchase, following a due diligence and the negotiation finalization (assuming the conditions will be agreed upon), will take place not later than January 2008. The hotel is a 4 star hotel in advanced construction process scheduled to open in September 2008. The hotel is an 8 floor hotel built over an entrance floor with an underground parking, and will contain an estimated number of 67 rooms. The transactions set out above are consistent the Company's current strategy to broaden its activity in the field of yield real estate abroad. The closing of the transactions is subject to a due diligence and to the receipt of the permits required by law. It will be noted that there is no certainty that the negotiations will conclude in agreements and will occur. Contact: Metis Capital Ltd. Eran Gluksman, CFO Phone: +972-3-537 3000 E-mail: investor@metis-capital.com Janina Wismar Investor Relations Phone: +49-40-60918650 E-mail: janina.wismar@kirchhoff.de 27.11.2007 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Issuer: Metis Capital Ltd. 30 Hamasger Street 61090 Tel-Aviv Israel Phone: +972 (03) 537-3000 Fax: +972 (03) 537-4000 E-mail: investor@metis-capital.com Internet: www.metis-capital.com ISIN: IL0003570129 WKN: 936734 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service =--------------------------------------------------------------------------

Metis Capital Ltd. / Miscellaneous 27.11.2007 Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- Tel Aviv/ Israel; November 27, 2007 - Metis Capital Ltd. (Prime Standard: EIC; TASE: MTSC) hereby announces that it is negotiating the purchase of two hotels, in two separate transactions, located at central Europe to be executed by its wholly owned subsidiary, Metis Capital Real Estate Ltd., as follows: 1. A hotel in Vienna at a cost of approximately 7 million Euros (not including taxes and other expenses). Metis Real Estate will additionally pay a finder's fee in a rate of 1.5% of the purchase cost. The Company estimates that the closing of the purchase, following a due diligence and the negotiation finalization (assuming the conditions will be agreed upon), will take place not later late than December 2007. The hotel is a 4 star hotel built in 1970 and renovated in 2005. The hotel contains 77 rooms, an underground parking, a lobby entrance, a dining room and a convention hall. 2. A hotel in Vienna (at a progressing construction process) at a cost of approximately 7.5 million Euros (not including taxes and other expenses). Metis Real Estate will additionally pay a finder's fee of 575,000 euros for consulting services and for services connected with obtaining bank financing for the purchase. The purchase cost, as well as the mediation cost, will be paid upon construction finalization in late August 2008. The Company estimates that the closing of the hotel purchase, following a due diligence and the negotiation finalization (assuming the conditions will be agreed upon), will take place not later than January 2008. The hotel is a 4 star hotel in advanced construction process scheduled to open in September 2008. The hotel is an 8 floor hotel built over an entrance floor with an underground parking, and will contain an estimated number of 67 rooms. The transactions set out above are consistent the Company's current strategy to broaden its activity in the field of yield real estate abroad. The closing of the transactions is subject to a due diligence and to the receipt of the permits required by law. It will be noted that there is no certainty that the negotiations will conclude in agreements and will occur. Contact: Metis Capital Ltd. Eran Gluksman, CFO Phone: +972-3-537 3000 E-mail: investor@metis-capital.com Janina Wismar Investor Relations Phone: +49-40-60918650 E-mail: janina.wismar@kirchhoff.de 27.11.2007 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Issuer: Metis Capital Ltd. 30 Hamasger Street 61090 Tel-Aviv Israel Phone: +972 (03) 537-3000 Fax: +972 (03) 537-4000 E-mail: investor@metis-capital.com Internet: www.metis-capital.com ISIN: IL0003570129 WKN: 936734 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service =--------------------------------------------------------------------------

Copyright (c) 2007 Dow Jones & Company, Inc.

Zur Startseite