Israel’s Elbit Medical Imaging’s Board of Directors approved a three-year extension to the agreement for the allocation of costs and expenses, entered into by and among the company, Elscint, the Company's subsidiary and Europe-Israel, the company's controlling shareholder.
The extension of the agreement was approved by the audit committee and board of directors of Elscint and is subject to the approval of the audit committee and board of directors of Europe-Israel. In approving the extension, the company's audit committee and board of directors stated that there are no material changes in the terms of the agreement, as extended, compared to the terms of the Original Agreement.
The term of the Original Agreement expired on December 31, 2002. The terms of the agreement, as extended, will be identical to those determined for the year 2002 under the Original Agreement. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
