Partner Communications Updates That S.B. Israel Telecom Ltd. Has Filed a 13-D Report
November 10 2019 - 2:32AM
Business Wire
Partner Communications Company Ltd. ("Partner" or the
"Company") (NASDAQ and TASE: PTNR), a leading Israeli
communications operator, informs its shareholders that S.B. Israel
Telecom Ltd. ("S.B. Israel"), holder of 30.38% of the Company's
outstanding shares, issued the following statement on November 8,
2019:
As previously disclosed, S.B.
Israel and its controlling affiliates have been in discussion with
the lenders under the Notes regarding the terms of the Notes. On
November 8, 2019, S.B. Israel delivered an Event of Default Notice
(the “Default Notice”) to Advent and the Trustee under the Notes,
providing notice pursuant to Section 4(g)(i) of the Amended and
Restated Terms and Conditions dated January 29, 2013 (the “Note
Terms”), that it is not expected to have the ability to repay the
debt evidenced by the Notes on the Final Maturity Date, January 29,
2020. Accordingly, S.B. Israel acknowledged that the Default Notice
constitutes an Event of Default pursuant to Section 9(c)(i) of the
Note Terms. Additionally, for the sake of good order, on November
8, 2019, S.B. Israel notified The Ministry of Communications of
Israel of the Default Notice and that such Default Notice may
result in the filing of an application to appoint a receiver over
the Ordinary Shares pledged by S.B. Israel to Advent to secure the
Reporting Persons’ obligations arising under the Notes (the
“Pledged Shares”) (in light of the occurrence of an Event of
Default). The realization of the pledge over the Pledged Shares is
subject to the prior written consent of the Minister of
Communications of the State of Israel.
The link to the statement filed by S.B. Israel with the U.S.
Securities and Exchange Commission is
https://www.sec.gov/Archives/edgar/data/1096691/000119312519287944/d829382dsc13da.htm
.
The Company is reviewing and
assessing the report and its potential implications for the
Company.
About Partner
Communications
Partner Communications Company
Ltd. ("Partner") is a leading Israeli provider of
telecommunications services (cellular, fixed-line telephony,
internet and television services). Partner’s ADSs are quoted on the
NASDAQ Global Select Market™ and its shares are traded on the Tel
Aviv Stock Exchange (NASDAQ and TASE: PTNR).
For more information about
Partner see:
http://www.partner.co.il/en/Investors-Relations/lobby/
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191109005048/en/
Mr. Tamir Amar Chief
Financial Officer Tel:
+972-54-781-4951
Ms. Liat Glazer Shaft Head of Investor Relations & Corporate
Projects Tel:
+972-54-781-5051 Email:
investors@partner.co.il
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