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.
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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
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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
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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
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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
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