PARTNER COMMUNICATIONS ANNOUNCES RECEIVING A LAWSUIT
On August 17, 2022, Partner Communications Company Ltd. (NASDAQ: PTNR) announced it received a lawsuit from Lapidot Capital Ltd., which holds over 2 million shares in the company. The lawsuit, filed in Israel's Central District Court, claims that changes to Partner's MRT license invalidate the registration of Lapidot's shares under its name. The Plaintiff seeks to have the shares registered under a nominee company, allowing for trading on the stock exchange, and requests damages equal to the share value at the time of the lawsuit, plus interest.
- The lawsuit is at a preliminary stage, and Partner is reviewing it.
- Potential liability if the court rules against Partner regarding the share registration.
- Uncertainty in share trading due to the lawsuit.
ROSH HA'AYIN, Israel, Aug. 17, 2022 /PRNewswire/ -- Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ: PTNR) (TASE: PTNR), a leading Israeli communications operator, reports that on August 17, 2022, the Company received a lawsuit filed by Lapidot Capital Ltd. (the "Plaintiff"), that hold 2,173,126 of the Company's shares (the "Plaintiff's Shares"), in the Central District Court in Lod (the "Lawsuit").
The Plaintiff's Shares are currently registered under the Plaintiff's name in the Company's shareholder registry as Founding Israeli Shareholder shares, as defined in the Company's Articles of Association. As part of the Lawsuit, the Plaintiff claims that due to changes to the Company's MRT license, the Company's Articles of Association no longer require the registration of the Plaintiff's Shares under the Plaintiff's name in the Company's shareholder registry. Therefore, the Plaintiff is petitioning the Court to grant an order to the Company instructing it to register the Plaintiff's Shares in the Company's shareholder registry under the Company's nominee company (Mizrahi Tfahot Nominee Company Ltd.), as regular and free shares, in a manner that will allow trading the Plaintiff's Shares on the stock exchange and a declaratory relief according to which the Plaintiff is entitled to receive damages from the Company in the amount equal to the value of the Plaintiff's Shares according to the share price on the date the Lawsuit was filed, in addition to interest and linkage differences from the date the Lawsuit was filed until the day the damages are granted, to be offset by the value of the shares on the day the Plaintiff's Shares will be registered under the nominee company.
The Company is reviewing the Lawsuit. Due to the preliminary stage of the proceeding, the Company is unable to evaluate the probability of success of the Lawsuit.
About Partner Communications
Partner Communications Company Ltd. 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
Contact:
Tamir Amar Deputy CEO & Chief Financial Officer Tel: +972 (54) 781 4951 | Amir Adar Head of Investor Relations & Corporate Projects Tel: +972 (54) 781 5051 E-mail: investors@partner.co.il |
View original content:https://www.prnewswire.com/news-releases/partner-communications-announces-receiving-a-lawsuit-301607892.html
SOURCE Partner Communications Company Ltd.
FAQ
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