Zisser demonstrates financial acrobatics
Elbit Imaging shareholders to vote on his pay, get $37m dividend meanwhile.
Elbit Imaging controlling shareholder Motti Zisser has recently exhibited some financial market acrobatics. On Sunday he asked for a 50 percent salary hike, and yesterday he decided to reward the shareholders who will have to approve his raise. Elbit Imaging will distribute a $37 million dividend in March.
The share has gained ground recently, although it lost 1 percent yesterday. But overall it is up 22 percent since the beginning of the year, raising company market cap to more than NIS 1 billion.
The dividend will have to be approved at the same shareholders meeting slated to debate Zisser's salary as chairman, currently NIS 150,000 a month.
The company said the updated salary "reflects the scope of Zisser's activity as an active chairman, considering the volume of the company's business and compared to similar companies."
Elbit Imaging last year sold all its entertainment and commercial centers in Hungary for 590 million euros.
Zisser has invited 30 financial analysts to Sheba Medical Center in Tel Hashomer today for a display of subsidiary InSightec's ExAblate 2000 system for the removal of uterine fibroids. The invitation says the meeting includes a demonstration of the system and a presentation on InSightec. In addition to InSightec executives, Sheba director Dr. Zeev Rothstein will review InSightec's activity at the hospital.
According to the company's web site, the use of the ExAblate system focuses MRI technology on cells inside the body while sparing tissue outside the growth.