NETANYA, Israel, Dec. 1,
2019 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL)
(the "Company") announced that its Board of Directors has
instructed the Company to prepare for a potential offering of
ordinary shares in an aggregate amount of approximately
NIS 280 million and 2 series of
options to purchase ordinary shares in an aggregate amount of
approximately NIS 120 million, to the
public in Israel and to certain
institutional investors outside Israel.
The Company's controlling shareholder has informed the Company
that if such offering will be effected by the Company, the
Company's controlling shareholder intends to purchase such
securities at least in an amount that shall allow it to keep its
current holdings in the Company.
The execution, timing, terms and amount of such contemplated
offering have not yet been determined and are subject to further
approval of the Company's Board of Directors, publication of a
supplemental offering report and the prior approval of the Tel Aviv
Stock Exchange of the supplemental offering report. There is no
assurance that such offering will be executed, nor as to its
timing, terms or amount.
For additional details regarding the holdings in the Company's
outstanding share capital, see the Company's annual report on Form
20-F for the year ended December 31,
2018, filed on March 18, 2019
under "Item 7. Major Shareholders and related party transactions –
A. Major Shareholders."
The contemplated offering described in this press
release does not constitute an offer to sell, or a
solicitation of an offer to purchase, any securities. Any
securities referred to herein have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
"Securities Act"), and may not be offered or sold within
the United States absent
registration or an applicable exemption from, or in a transaction
not subject to, the registration requirements of the Securities
Act. There is no intention to register any securities referred
to herein in the United States or
to make a public offering of the securities in the United
States.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is a leading Israeli
communications group, providing a wide range of communications
services. Cellcom Israel is the largest Israeli cellular provider,
providing its approximately 2.767 million cellular subscribers (as
at September 30, 2019) with a broad
range of services including cellular telephony, roaming services
for tourists in Israel and for its
subscribers abroad, text and multimedia messaging, advanced
cellular content and data services and other value-added services
in the areas of music, video, mobile office etc., based on Cellcom
Israel's technologically advanced infrastructure. The Company
operates an LTE 4 generation network and an HSPA 3.5 Generation
network enabling advanced high speed broadband multimedia services,
in addition to GSM/GPRS/EDGE networks. Cellcom Israel offers
Israel's broadest and largest
customer service infrastructure including telephone customer
service centers, retail stores, and service and sale centers,
distributed nationwide. Cellcom Israel further provides OTT TV
services, internet infrastructure and connectivity services and
international calling services, as well as landline telephone
services in Israel. Cellcom
Israel's shares are traded both on the New York Stock Exchange
(CEL) and the Tel Aviv Stock Exchange (CEL). For additional
information please visit the Company's website
http://investors.cellcom.co.il.
Company Contact
Shlomi Fruhling
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9735
Investor Relations Contact
Ehud Helft
GK Investor & Public Relations In partnership with LHA
cellcom@GKIR.com
Tel: +1-617-418-3096
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SOURCE Cellcom Israel Ltd.