Home Add to Favorite Contact Submit  
           29 June, 2022


    
Category:  Press » Internet

 

Formula Systems Reports Expected Payment of the Full Amount of the Formula Vision Debt on December 31st, 2006

Popularity:
         Views: 1590
2006-12-27 00:09:41     
Formula Systems (1985) Ltd.

Formula Systems (1985) Ltd. (Nasdaq: FORTY) a leading provider of information technology products, solutions and services, announced today that it has been notified by Formula Vision Technologies (F.V.T.) Ltd., ("Formula Vision") a former subsidiary, that it intends to execute full payment of the principle and interest of the debt owed by Formula Vision to the Company, approximately US$51 million, on December 31st, 2006.

Gad Goldstein CEO of the Company commented: "The full and punctual payment of the loan, as stated in the contract between the companies, will position the company at the beginning of 2007 with a new level of certainty and free capital resources. We hope that the strong beginning of 2007 will be the harbinger of a successful year."

Formula Systems (1985) Ltd.

Formula Systems Ltd. is a global information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products and providing computer-based business solutions.

Formula Vision Technologies (F.V.T.) Ltd.

Formula Vision is a managing and holding company, guiding a group of privately held IT companies with innovative, proprietary technologies and solutions targeting international markets. Formula Vision holds a controlling interest in some of these privately held companies and a minority interest in the other members of the group. [For a brief description of Formula Vision's principal affiliated companies, please see Item 4 of the Company's Annual Report on Form 20-F for the year ended December 31, 2005]

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Statements contained in this press release that are not historical facts are forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks and uncertainties include, but are not limited to: successful completion of the transactions contemplated in this press release, market demand for the companies' products, dependence on strategic partners, integration of new business, successful implementation of the companies' products, economic and competitive factors, international market conditions, management of growth, technological developments, the ability to finance operations and other factors which are detailed in Formula's Securities and Exchange Commission filings, including its most recent annual report on Form 20-F. Formula undertakes no obligation to publicly release any revision to any forward looking statement.

Specialized in: Formula Systems - Expected Payment - Vision Debt
Print press release      Bookmark this page
Related Press releases 
Cipherwave Home-Connect (Pty) Ltd Launched FTTH Services In Other Areas Of South Africa (Popularity: ): Midrand, 18 May 2017 -Depending upon the increasing demand of FTTH internet, CipherWave Home-Connect (Pty) Ltd is providing superfast FTTH internet in top metros in South Africa. Now they cover approximately all the near-by areas of the top metros in South Africa.CipherWave Home-Connect (Pty) Ltd brings fibre Optic technology to enhance the internet speed and communication for households. Choose a reliable FTTH internet service provider in your area and avail ...
hide.me Launches A Life Time Free VPN - No Registration, No Signup Required (Popularity: ): 26-04-16, Kuala Lumpur: hide.me VPN is always working towards improving the security of its users and keeping their promise of making internet security as simple as possible.Free VPN - No Registration Required If you are not using hide.me or haven't tried it yet, this is your best chance to try out our FREE VPN on your Windows laptop or PC without any registration or Sign-up. We don't even require your email ...
WebShark360 Launches New Bond & Taylor Personal Injury and Product Liability Law Website (Popularity: ): Irvine, CA, November 12, 2012 -- WebShark360 launched a new website for Orange County personal injury lawyers Bond & Taylor today. This website reflects the same client focused and dynamic approach that Bond & Taylor adopts. The new site features enhanced practice areas, Spanish language options, and the opportunity to connect with attorneys via social media.The new additions were conceived as an opportunity to inform clients and to interact with ...
Soft Solutions launched Joomla upgrade 2.5 services (Popularity: ): 11- August -2012, Soft Solutions, a leading web development and SEO Company today launched Joomla upgrade 2.5 services. Joomla 2.5 is more secure and has numerous advanced features like multilingual support, enhanced article editing, mobile website support, etc. Moreover, Joomla 2.5 is more seo friendly.Joomla is an open source content management system. Joomla is the most popular website software. It is easy to use and thus the web developers can ...
CyberHostPro Ltd introduces Advanced Email Service to add to their Cloud Hosting Features. (Popularity: ): Manchester, UK – The world of online businesses has taken an interesting turn with the arrival of CyberHostPro Ltd’s new cloud hosting with advanced email service. The company has established their prominence as one of the top hosting servers in the market with a variety of reliable and trusted web hosting services. The company has launched a new service of hosting with email facilities to tap into the growing market ...


Related Business 
Bruce McLaren (Popularity: ): This has Can-Am, Formula One, Indy Cars, Formula Two, Formula Three and Biography information.
All About The Formula One Grand Prix (Popularity: ): All Formula 1 Grand Prix: Information, results, tickets. Seasons and circuits. Drivers and teams standing. Books and posters on the Formula 1. Grand Prix Formula 1 racing cars are cars that compete on closed usually permanent but may take place in the city as is the case for the Monaco Grand Prix.
Debt negotiation (Popularity: ): Debt settlement is an ethical and responsible process where a Customer and a financial institution, most often credit card companies, agree to a compromised payment to consider the debt resolved. As a result of this compromise the Customer has a zero balance and the financial institution has received some amount of payment for the account.
Joint Pain Formula (Popularity: ): Finding an effective joint pain formula can be difficult task. To help determine the best joint pain formula, check out our latest report. We have examined the top joint formulas and come up with the best product available.
Online Debt Help (Popularity: ): Life has a great many expected and unexpected bills and expenses. Regardless of the original reason you acquired them, When they finally grow to an amount you can no longer afford, it might be time to start looking into some form of debt reduction.
Formula Grand Prix (Popularity: ): Manufactures Club Racer a formula style race car.
Formula Tours (Popularity: ): Accommodations and packages for Formula One racing and other events, supports English and French languages.
Drinkers Champion (Popularity: ): Herbal formula to help prevent hangovers. Includes product formula and free sample.
Formula One World (Popularity: ): Formula One facts and figures. Driver, team and circuit profiles. All results from 1950 to present.
AHS Mechanical (Popularity: ): Specializing in formula vee and formula ford racing. Information on parts, services and company history.