Optibase Requests Delisting

Optibase requests the Tel Aviv Stock Exchange to delist its shares

June 25, 2008

1 Min Read

HERZLIYA, Israel -- Optibase Ltd. (NASDAQ:OBAS) (the "Company" or Optibase"), a leader in advanced digital video solutions today announced that its board of directors resolved on June 25, 2008 to delist the Company's ordinary shares from trading on the Tel Aviv Stock Exchange ("TASE"). Accordingly, the Company requested the TASE to delist its ordinary shares from trading on the TASE. Under applicable Israeli law, the delisting of the Company's ordinary shares from trading on the TASE will become effective within at least three months from the date hereof, during such time the Company's ordinary shares will continue to trade on the TASE. The Company will announce the exact date for delisting following the TASE's decision on the Company's aforementioned request. Following the delisting of the Company's ordinary shares from the TASE, the Company shall no longer be subject to any reporting requirements in Israel, under the Israeli securities law.

The ordinary shares of Optibase will continue to be listed on the Nasdaq Global Market.

Amir Philips, CFO of Optibase, said, "as most trading in the Company's ordinary shares is made on Nasdaq, local trading volume in Optibase's ordinary shares remained minimal since their listing for trade on the TASE in August 2007. The majority of Optibase's investors are operating in the US market. Accordingly, we concluded that it is in the interest of the Company to delist its ordinary shares from the TASE and focus its efforts on the US market."

Optibase Ltd. (Nasdaq: OBAS)

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