| [April 09, 2015] |
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Partner Communications Announces an Amendment to the Brand License Agreement
Partner Communications Company Ltd. ("Partner" or "the Company")
(NASDAQ:PTNR) (TASE:PTNR), a leading Israeli communications operator, announces
that it has entered with Orange (News - Alert) Brand Services Limited ("Orange")
into an amendment regarding the Brand Licence Agreement for the use of
the Orange brand in Israel (the "BLA"; the "Amendment").
The Amendment is effective as of March 31, 2015.
Under the Amendment, the BLA will terminate after a period of ten years
commencing on April 1, 2015, unless extended by agreement between the
parties, negotiated in good faith.
The Amendment also addresses royalties payable by Partner to Orange and
provides that the royalty rate which was applicable during the past
three years (i.e. until March 31, 2015) will be maintained during the
next four years (i.e. until March 31, 2019), subject to certain
conditions set in the Amendment. Following March 31, 2019, the Amendment
provides for the royalty rate to increase. However, the Amendment does
not change Partner's right to terminate the BLA at any time upon six
months advanced notice.
For further information, please see the Company's Annual Report on Form
20-F for the year ended December 31, 2014 "Item 3. Key Information - 3D.
Risk Factors - 3D.2 Risks relating to our business operations - 3D.2p - our
marketing strategy relies on using the international Orange brand. If
our brand license agreement terminates or is revoked, we will lose one
of our main competitive strengths" and "Item 4. Information on the
Company - 4B. Business Overview - 4B.4 Competitive Strengths and 4B.5
Marketing and Brand" and the Company's press releases and immediate
reports (on Form 6-K) dated April 28, 2011 at: http://maya.tase.co.il/bursa/report.asp?report_cd=639049
or http://www.sec.gov/Archives/edgar/data/1096691/000117891311001206/zk1109795.htm
and February 2, 2012 at: http://maya.tase.co.il/bursa/report.asp?report_cd=711913
orhttp://www.sec.gov/Archives/edgar/data/1096691/000117891312000270/zk1210962.htm.
Forward-Looking Statements
This
press release includes forward-looking statements, as this term is
defined in 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 "will", "believe," "anticipate,"
"expect," "intend," "strive," "seek," "plan," "could," "may," "foresee,"
"target," "objective," declensions thereof and similar expressions
typically convey forward-looking statements, but these words are not the
only words that convey these statements. Any statement, other than a
statement of historical fact included in this press release regarding
our future performance, plans to increase revenues or margins or to
sustain or expand the current market share in existing or new markets,
plans to reduce expenses and any other statement regarding a future
event or potential opportunity, is a forward-looking statement.
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, about the macro-economic environment, about
consumer habits and preferences when using cellular telephones, trends
in the Israeli communications industry in general, the impact of current
global economic conditions and possible regulatory and legal
developments. In light of these risks, uncertainties and conjectures,
the forward-looking events mentioned in this press release might not
transpire, and actual results may differ materially from the anticipated
results. For further information regarding the above-mentioned risks,
uncertainties and conjectures and other risks we face, please see "Item
3. Key Information - 3D. Risk Factors," "Item 4. Information about the
Company," "Item 5. Operating and Financial Review and Prospects," "Item
8. Financial Information - 8A. Consolidated Financial Statements and
Other Financial Information - 8A.1 Legal and Administrative Proceedings"
and "Item 11. Quantitative and Qualitative Disclosures about Market
Risk" in the Company's Annual Reports on Form 20-F, and the Company's
other reports on Form 6-K, which were submitted to the United States
Securities Exchange Commission. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or for any other reason.
About Partner Communications
Partner
Communications Company Ltd. ("Partner") is a leading Israeli provider of
telecommunications services (cellular, fixed-line telephony and internet
services) under the orange™ brand and under the 012 Smile brand.
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:
http://www.orange.co.il/en/Investors-Relations/lobby/.
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