Cellcom Israel Announces Sale of Appx. 0.93% of its Issued Share Capital by Option Holders

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Aug 17, 2014, 10:54 ET

NETANYA, Israel, August 17, 2014 /PRNewswire/ --

Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (the "Company") announced today that employees and members of senior management of the Company have entered into agreements to sell an aggregate of 933,348 shares of the Company, constituting approximately 0.93% of the Company's issued share capital, to financial institutions. The shares had been issued by the Company to such employees and senior management upon their exercise of vested options granted by the Company under its 2006 Share Incentive Plan. The sale is scheduled to be completed today. The Company understands that the purchasers intend to place such shares for sale outside the United States to non-US investors.

The shares have not been and will not be registered under the U.S. Securities Act of 1933. Accordingly, the shares may not be offered or sold in the United States or to, or for the account or benefit of, a U.S. person (as defined in Regulation S under the U.S. Securities Act of 1933).

For additional details on the Company's Share Incentive Plan, see the Company's most recent annual report for the year ended December 31, 2013 on Form 20-F under "ITEM 5. Operating and Financial Review and Prospects - A. Operating Results - Overview - 2006 Share Incentive Plan" and under "ITEM 6. Directors, Senior Management and Employees - E. Share Ownership - 2006 Share Incentive Plan".

About Cellcom Israel

Cellcom Israel Ltd., established in 1994, is the largest Israeli cellular provider; Cellcom Israel provides its approximately 3.029 million subscribers (as at June 30, 2014) 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 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 technical support, account information, direct to the door parcel delivery services, internet and fax services, dedicated centers for hearing impaired, etc. Cellcom Israel further provides through its wholly owned subsidiaries internet connectivity services and international calling services, as well as 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
Shlomi Fruhling
Chief Financial Officer
[email protected]
Tel: +972-52-998-9755

Investor Relations Contact
Ehud Helft
GK Investor & Public Relations In partnership with LHA
[email protected]
Tel: +1-617-418-3096