LONDON (Alliance News) - Mirland Development Corp PLC said Thursday that a purchase agreement that would have led to a reduction of the shareholding of one of its non-executive directors is no longer going ahead.
Last month the company had reported that the stake in MirLand held by Non-Executive Director Eliezer Fishman could be reduced due to a deal by Bank Leumi to sell debt owned by private companies controlled by Fishman.
However, Mirland said noted an announcement released on the Tel Aviv Stock Exchange Thursday that the potential purchasers no longer intend to proceed with the transaction.
Shares in Mirland were untraded Thursday morning. They last traded at 80.00 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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