Ormat Plans to Seek Multiple International Listings
10 Dezembro 2014 - 8:18PM
Ormat Technologies, Inc. (NYSE:ORA) announced today that in
connection with the pending transaction, the corporation's board of
directors approved a decision to list its shares on two
international stock exchanges, in addition to its current listing
on the New York Stock Exchange (NYSE), one of which will be the Tel
Aviv Stock Exchange ("TASE").
"As Ormat Technologies works to complete its acquisition of its
parent entity, Ormat Industries, through a share exchange and
consolidate into a more, streamlined organizational structure, the
additional listings will further our goals of increasing liquidity
and attracting a broader investor base," said Ormat CEO Isaac
Angel.
The corporation expects to initiate the listing process at the
earliest possible time taking into account regulatory and practical
considerations.
About Ormat Technologies, Inc.
With over four decades of experience, Ormat Technologies, Inc.
is a leading geothermal company and the only vertically integrated
company solely engaged in geothermal and recovered energy
generation (REG). The company owns, operates, designs, manufactures
and sells geothermal and REG power plants primarily based on the
Ormat Energy Converter - a power generation unit that converts
low-, medium- and high-temperature heat into electricity. With over
77 U.S. patents, Ormat's power solutions have been refined and
perfected under the most grueling environmental conditions. Ormat
has 480 employees in the United States and about 640 overseas.
Ormat's flexible, modular solutions for geothermal power and REG
are ideal for the vast range of resource characteristics. The
company has engineered, manufactured and constructed power plants,
which it currently owns or has installed to utilities and
developers worldwide, totaling over 1,900 MW of gross capacity.
Ormat's current generating portfolio of 626 MW (net) is spread
globally in the U.S., Guatemala and Kenya.
Ormat's Safe Harbor Statement
Information provided in this press release contains statements
relating to current expectations, estimates, forecasts and
projections about future events that are "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements generally relate to
Ormat's plans, objectives and expectations for the share exchange,
the related restructuring of the Ormat corporate group and the
anticipated consequences of the transaction and are based upon its
management's current expectations. These forward looking statements
include, among others, the benefits that Ormat Technologies
believes the transaction will create, including those related to
expected cost savings, enhanced liquidity, synergies, corporate
visibility and identity. Actual future results may differ
materially from those projected as a result of certain risks and
uncertainties.
These forward-looking statements are made only as of the date
hereof, and we undertake no obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT: Ormat Technologies:
Smadar Lavi
Investor Relations
775-356-9029
slavi@ormat.com
Investor Relations Contact:
Todd Fromer / Brad Nelson
KCSA Strategic Communications
212-896-1215 / 212-896-1217
tfromer@kcsa.com / bnelson@kcsa.com
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