A shareholder's meeting approved the change, and investors were unmoved.
The management of Optibase Ltd. (Nasdaq: OBAS) can begin activity in income producing real estate, after winning the required majority at last week's shareholders' general meeting. Optibase, of Herzliya, which provides digital video solutions, decided to diversify its activity, and announced that it would focus on income producing real estate in Western and Central Europe an din North America.
The result of the shareholders' meeting did not affect trading in the company's share: volumes on Thursday and Friday were zero. Optibase has a market cap of $22 million on Nasdaq. The company's chairman and CEO is Tom Wyler, who is also its main shareholder, with a 40% holding.
Published by Globes [online], Israel business news - www.globes.co.il - on June 29, 2009
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