Formula Systems (1985) Ltd. to Spin Off Shares of Mashov Computers Ltd. to Formula Shareholders.

PR Newswire | July 30, 2001 | Copyright

HERZLIYA, Israel, July 30 /PRNewswire/ --

Formula Systems (1985) Ltd. (Nasdaq: FORTY), a leading provider of information technology products, solutions and services, today announced that its board of directors has approved the spin-off of ordinary shares of Mashov Computers Ltd., an Israeli corporation traded on the Tel Aviv Stock Exchange, to the holders of Formula ordinary shares, par value NIS 1 per share. To effect this spin-off, Formula's board has declared a dividend on outstanding Formula ordinary shares consisting of Mashov ordinary shares owned by Formula ...

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