ROSH HA’AYIN, Israel--(BUSINESS WIRE)--Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ and TASE: PTNR), a leading Israeli communications operator, reports that following the Company's announcement on May 31, 2018 of a share buy-back plan of up to an aggregate amount of NIS 200 million of its ordinary shares which are traded on the Tel Aviv Stock Exchange ("the Plan"), and further to the approval of the Company's Board of Directors on August 14, 2018 regarding the repurchase of the second tranche under the Plan ("the Second Tranche"), as of October 25, 2018, the Company has completed the repurchase of the Second Tranche, in an additional amount of NIS 50 million (including commissions) with an aggregate repurchase total amount of NIS 100 million under the Plan.
The Company has repurchased 2,865,398 of its ordinary shares under the Second Tranche, with an aggregate total amount of 6,501,588 shares repurchased under the Plan. The average price per share of the total amount of shares repurchased under the Plan was NIS 15.38 (including commissions). As of this date, the Company's treasury shares totals an amount of 7,887,891.
The implementation of subsequent tranches, insofar as there will be under the Plan, is subject to the approval of the Company's Board of Directors.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, Section 21E of the US Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Words such as "estimate", “believe”, “anticipate”, “expect”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “project”, “goal”, “target” and similar expressions often identify forward-looking statements but are not the only way we identify these statements. All statements other than statements of historical fact included in this press release, including statements relating to the Plan, any other statements regarding other future events or our future prospects, are forward-looking statements. We have based these forward-looking statements on our current knowledge and our present beliefs and projections regarding possible future events. These forward-looking statements are subject to risks, uncertainties and assumptions about Partner, and possible regulatory and legal developments. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and actual results may differ materially from the results anticipated. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Specific statements have been made regarding the Company's Plan to repurchase its shares. The repurchase Plan does not require the Company to acquire any shares at all, or any specific amount of shares.
About Partner Communications
Partner Communications Company Ltd. is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet services 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
