Cellcom Israel Announces Results of Annual General Meeting of Shareholders and Netvision Merger Transaction Status
Poster: SySAdmin
Posted on July 28, 2011 at 12:42:01 AM
Cellcom Israel Announces Results of Annual General Meeting of Shareholders and Netvision Merger Transaction Status
NETANYA, Israel, July 28, 2011/PRNewswire-FirstCall/ --
Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today that its
Annual General Meeting of Shareholders (the "Meeting") was held as planned
on July 27, 2011, at which the following items were voted upon and duly
approved by the Company's shareholders:
(1) re-election of Ami Erel, Shay Livnat, Raanan Cohen, Rafi Bisker,
Shlomo Waxe, Haim Gavrieli, Ari Bronshtein, Tal Raz, Ephraim Kunda and Edith
Lusky as directors.
(2) approval of the compensation for independent directors and Edith
Lusky;
(3) approval of the merger between the Company's subsidiary and
NetVision Ltd., or Netvision;
(4) approval of the amendment to and renewal of management services
agreement with Discount Investment Corporation Ltd.;
(5) approval of the amendments to the Company's Articles of Association;
(6) approval the amendment to the indemnification letter to directors
and officers, including directors and officers who are controlling
shareholders of the Company;
(7) approval of the liability insurance covering our directors and
officers who are controlling shareholders; and
(8) reappointment of Somekh Chaikin, a member of KPMG International, as
our independent auditor.
For more information, please see the Company's Proxy Statement relating
to the Meeting, which was filed on Form 6-K on June 16, 2011.
In relation to Item (3) above, on July 27, 2011, the merger was also
approved by Netvision's shareholders and the Ministry of Communications.
Netvision reported 100% of the votes of shareholders voting on the matter
(whether with or without a personal interest in the resolution) were in
favor of the transaction. The Company's shareholders approved the
transaction by approximately 98% of the votes of shareholders voting on the
matter who do not have a personal interest in the resolution (in addition to
approximately 100% of the votes of shareholders voting on the matter who
have a personal interest in the resolution). In June 2011, the Israeli
Antitrust Authority notified the Company and Netvision that the merger
transaction shall not require the Antitrust Authority's approval.
Consummation of the transaction is subject to certain additional
conditions..
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the leading Israeli
cellular provider; Cellcom Israel provides its approximately 3.395 million
subscribers (as at March 31, 2011) with a broad range of value added
services including cellular and landline telephony, roaming services for
tourists in Israel and for its subscribers abroad and additional services in
the areas of music, video, mobile office etc., based on Cellcom Israel's
technologically advanced infrastructure. The Company operates an HSPA 3.5
Generation network enabling advanced high speed broadband multimedia
services, in addition to GSM/GPRS/EDGE and TDMA 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. Through its broad customer service
network Cellcom Israel offers its customers technical support, account
information, direct to the door parcel services, internet and fax services,
dedicated centers for the hearing impaired, etc. As of 2006, Cellcom Israel,
through its wholly owned subsidiary Cellcom Fixed Line Communications L.P.,
provides landline telephone communication services in Israel, in addition to
data communication services. 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://www.cellcom.co.il
Company Contact
Yaacov Heen
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9755
Investor Relations Contact
Porat Saar
CCG Investor Relations Israel& US
cellcom@ccgisrael.com
Tel: +1-646-233-2161
Source: Cellcom Israel Ltd.
.
NETANYA, Israel, July 28, 2011/PRNewswire-FirstCall/ --
Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today that its
Annual General Meeting of Shareholders (the "Meeting") was held as planned
on July 27, 2011, at which the following items were voted upon and duly
approved by the Company's shareholders:
(1) re-election of Ami Erel, Shay Livnat, Raanan Cohen, Rafi Bisker,
Shlomo Waxe, Haim Gavrieli, Ari Bronshtein, Tal Raz, Ephraim Kunda and Edith
Lusky as directors.
(2) approval of the compensation for independent directors and Edith
Lusky;
(3) approval of the merger between the Company's subsidiary and
NetVision Ltd., or Netvision;
(4) approval of the amendment to and renewal of management services
agreement with Discount Investment Corporation Ltd.;
(5) approval of the amendments to the Company's Articles of Association;
(6) approval the amendment to the indemnification letter to directors
and officers, including directors and officers who are controlling
shareholders of the Company;
(7) approval of the liability insurance covering our directors and
officers who are controlling shareholders; and
(8) reappointment of Somekh Chaikin, a member of KPMG International, as
our independent auditor.
For more information, please see the Company's Proxy Statement relating
to the Meeting, which was filed on Form 6-K on June 16, 2011.
In relation to Item (3) above, on July 27, 2011, the merger was also
approved by Netvision's shareholders and the Ministry of Communications.
Netvision reported 100% of the votes of shareholders voting on the matter
(whether with or without a personal interest in the resolution) were in
favor of the transaction. The Company's shareholders approved the
transaction by approximately 98% of the votes of shareholders voting on the
matter who do not have a personal interest in the resolution (in addition to
approximately 100% of the votes of shareholders voting on the matter who
have a personal interest in the resolution). In June 2011, the Israeli
Antitrust Authority notified the Company and Netvision that the merger
transaction shall not require the Antitrust Authority's approval.
Consummation of the transaction is subject to certain additional
conditions..
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the leading Israeli
cellular provider; Cellcom Israel provides its approximately 3.395 million
subscribers (as at March 31, 2011) with a broad range of value added
services including cellular and landline telephony, roaming services for
tourists in Israel and for its subscribers abroad and additional services in
the areas of music, video, mobile office etc., based on Cellcom Israel's
technologically advanced infrastructure. The Company operates an HSPA 3.5
Generation network enabling advanced high speed broadband multimedia
services, in addition to GSM/GPRS/EDGE and TDMA 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. Through its broad customer service
network Cellcom Israel offers its customers technical support, account
information, direct to the door parcel services, internet and fax services,
dedicated centers for the hearing impaired, etc. As of 2006, Cellcom Israel,
through its wholly owned subsidiary Cellcom Fixed Line Communications L.P.,
provides landline telephone communication services in Israel, in addition to
data communication services. 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://www.cellcom.co.il
Company Contact
Yaacov Heen
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9755
Investor Relations Contact
Porat Saar
CCG Investor Relations Israel& US
cellcom@ccgisrael.com
Tel: +1-646-233-2161
Source: Cellcom Israel Ltd.
.