PARTNER COMMUNICATIONS ANNOUNCES THE RECEIPT OF THE MINISTRY OF COMMUNICATIONS' APPROVAL WITH RESPECT TO A TRANSACTION TO SELL THE COMPANY'S SHARES UNDER RECEIVERSHIP

ROSH HA'AYIN, Israel, March 30, 2022 /PRNewswire/ -- Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ: PTNR) (TASE: PTNR), a leading Israeli communications operator, reports, that further to the Company's press releases dated November 25, 2021 and December 16, 2021 and Item 3D.3a in the Company's Annual Report on Form 20-F for 2021, on March 29, 2022, the Minister of Communications' approval ("Approval") was received for the transfer of control and of the means of control and the change of the institutional investors or their substitutes in connection with a transaction for the purchase of 49,862,000 of the Company's shares held by S.B. Telecom Ltd. constituting approximately 27% of the Company's issued and outstanding share capital by Amphissa Holdings Limited Partnership ("the Transaction").

According to the Approval, the general partner of Amphissa Holdings Limited Partnership ("the Partnership") is Israel Lighterage and Supply Co. Ltd., which – to the best knowledge of the Company - is 50% owned by Mr. Shlomo Rodav and 50% owned by Mr. Roni Gat and members of his family, and the limited partners are mostly institutional investors from the Phoenix, Clal and Menora groups. The Approval allows Mr. Avi Gabbay to join the Partnership in the future as a limited partner and as general partner, directly or through a company under his control.

Further to the Approval, the Company was notified that the Transaction is expected to be completed on April 4, 2022. 

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. In particular, this press release communicates our belief regarding the expected closing date of the Transaction. In addition, all statements other than statements of historical fact included in this press release regarding our future performance are forward-looking statements.

We have based these forward-looking statements on our current knowledge and our present beliefs and expectations regarding possible future events. These forward-looking statements are subject to risks, uncertainties and assumptions, including in particular a delay in the closing date of the Transaction or whether the Transaction will be completed at all. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

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SOURCE Partner Communications Company Ltd.