Cellcom Israel Announces Results of Equity Offering in Israel

NETANYA, Israel, Dec. 5, 2019 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced today that the public tender for its ordinary shares, Series 3 options and Series 4 options to purchase its ordinary shares, announced earlier today, was concluded. The Company received offers for a total consideration of approximately NIS 650 million and accepted a portion of these offers. The final information relating to the public offering is as follows:

• The Company shall issue an aggregate of 30,600,000 ordinary shares, 7,038,000 Series 3 Options and 6,426,000 Series 4 Options for NIS 1,021 per unit (each unit will consist of 100 ordinary shares, 23 Series 3 Options and 21 Series 4 Options).
• The immediate total net consideration to be received by the Company is approximately NIS 307 million. The closing of the offering is expected to occur on December 8, 2019.

Following the participation of the Company's controlling shareholder in the offering, after the closing of the offering, the Company's controlling shareholder will hold approximately 46.2% of the Company's issued and outstanding share capital and approximately 48.5% of the Company's voting rights (directly and through agreements with other shareholders of the Company). 

For additional details see the Company's current report on Form 6-K dated December 5, 2019.

The 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.