zk1007993.htm
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
Report of
Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
The
Securities Exchange Act of 1934
For the
month of March, 2010
OPTIBASE
LTD
(Translation
of registrant's name into English)
2 Gav Yam Center,
7 Shenkar Street, Herzliya
46120, Israel
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
Form 20-F
x Form 40-F o
Indicate
by check mark whether the registrant by furnishing the information contained in
this form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If "Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- N/A
Attached
hereto and incorporated by reference herein is a copy of the press
release
Optibase
Announces Option Agreement Regarding Rumlang Property
This
report is hereby incorporated by reference to the Registration
Statements
on
Form S-8 (File Nos. 333-10840;333-12814;333-13186;333-91650;
333-122128;333-137644;333-139688)
of the Company.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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By:
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/s/ Amir
Philips |
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Name:
Amir Philips |
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Title:
Chief Financial Officer |
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Date:
March 2, 2010
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Media
Contacts:
Talia
Rimon, Director of Marketing Communications, Optibase, Ltd.
011-972-9-9709-125
taliar@optibase.com
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Investor Relations
Contact:
Marybeth
Csaby, KCSA for Optibase
+1-212-896-1236
mcsaby@kcsa.com
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Optibase
Announces Option Agreement
Regarding
Rumlang Property
HERZLIYA, Israel, March 2, 2010
– Optibase Ltd. (Nasdaq: OBAS), today announced that its subsidiary,
Optibase RE 1 SARL, entered into an Option Agreement with a Cypriot company,
Chessell Holdings Limited. In October 2009, Optibase RE 1 SARL
acquired a commercial building located at Riedmattstrasse 9, Rümlang,
Switzerland. For further information regarding Optibase's acquisition of the
Rumlang property, see the press release dated October 30, 2009.
Through
its beneficial owner, Chessell Holdings introduced Optibase to the Rumlang
property and facilitated Optibase’s acquisition and financing of the
property.
Under the
Option Agreement, Optibase RE 1 SARL granted Chessell Holdings an option to
purchase twenty percent (20%) of the share capital of Optibase RE 1 SARL.
Chessell Holdings undertook to pay a purchase price for the option of CHF
315,000 for the option.
The
exercise price under the Option Agreement is calculated based on Optibase’s
acquisition costs for the Rumlang Property plus interest and an adjustment for
proceeds that are distributed to Optibase RE 1’s shareholders.
The
shares that would be issued to Chessell Holdings upon exercise of the option
will not have voting rights and would be subject to transfer restrictions in
favor of Optibase.
About
Optibase
Optibase
provides video over IP solutions, specializing in video encoding, decoding and
streaming for federal and state government agencies, Telco operators, enterprise
organizations and the world's leading broadcast service
providers. With a collection of open, standards-based products,
Optibase enables its customers to take full advantage of video distribution over
their IP network, ensuring superb video quality in a scale of bit-rates for
simple and effective video streaming to desktops, STBs and VOD applications.
Optibase has recently resolved to diversify its operations by entering into the
fixed-income real-estate sector. For further information, please visit www.optibase.com.
This
press release contains forward-looking statements concerning our marketing and
operations plans. All statements other than statements of historical
fact are statements that could be deemed forward-looking statements. All
forward-looking statements in this press release are made based on management's
current expectations which involve risks, uncertainties and other factors that
could cause results to differ materially from those expressed in forward-looking
statements. These statements involve a number of risks and uncertainties
including, but not limited to, difficulties in finding suitable real-estate
properties for investment, availability of financing for the acquisition of
real-estate, difficulties in leasing of real-estate properties, insolvency of
tenants, difficulties in the disposition of real-estate projects, general
economic conditions and other risk factors. For a more detailed
discussion of these and other risks that may cause actual results to differ from
the forward looking statements in this news release, please refer to Optibase's
most recent annual report on Form 20-F. The Company does not
undertake any obligation to update forward-looking statements made
herein.
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