Unitronics (R"G) Ltd completed the Spin-Off of U-tron.
The Spinoff is subject to the legally mandated approvals, including approval of reduction of capital by the court, which is expected to be submitted to the court in the coming days, final decision by Unitronics Board of Directors and approval from the Tax Authority, permit from the Israel Securities Authority and TASE Ltd. approval for registration of the spun-off Unitronics' securities for trading. The deal is expected to close by March 10, 2019.
The Board of Unitronics (1989) (R"G) Ltd (TASE:UNIT) completed the spin off U-tron on March 12, 2019.