Legal Proceedings Report • Jul 22, 2025
Legal Proceedings Report
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on the signing of a binding Memorandum of Understanding and the submission of a joint debt settlement plan with IAI, to the bondholders of SpaceCom
4iG Public Limited Company ("4iG") hereby informs the participants of the capital market that yesterday it has signed a binding Memorandum of Understanding ("MoU") with Israel Aerospace Industries Ltd. ("IAI") to settle Space-Communication Ltd.'s ("SpaceCom") full bond debt service and jointly they have submitted their bilateral debt settlement plan to SpaceCom's bondholders.
The objective of the joint debt settlement plan is to resolve the long-standing debt settlement process and ensure the stability of SpaceCom's business and market standing.
According to the proposal, the state-owned IAI would acquire a majority 80% stake in SpaceCom, while 4iG would retain its existing 20% shareholding. As part of the financial plan, the parties would provide a total of USD 12 million in the form of a subordinated shareholder loan, bearing 10% interest and maturing in 2035, proportionally to their ownership shares, of which 4iG undertakes to pay USD 2.4 million.
Following the acceptance and implementation of the debt settlement plan, SpaceCom would become the first joint venture where 4iG could become a strategic partner of the internationally recognised, largest space and defence industry company of Israel.
4iG will inform the public of further developments regarding the transaction in accordance with capital market regulations.
4iG has previously submitted two plan to settle SpaceCom's debt. Although the most recent debt settlement plan was accepted by the bondholders, the conditions precedents required for closing were not fully met by the long stop date. The extraordinary announcements on the previous debt settlement plan are available at the following links:
Extraordinary Announcement of 4iG Plc. - on the new debt settlement plan of Space-Communications Ltd. - Bet site
Extraordinary Announcement of 4iG Plc. on the acceptance by the bondholders of the debt settlement plan of Space-Communications Ltd. - Bet site
Extraordinary Announcement of 4iG Plc. on the expiration of the debt settlement plan of Space-Communications Ltd. - Bet site
Budapest, 22 July 2025 4iG Plc.
Mailing address: H-1013 Budapest, Krisztina krt. 39. Phone: +36 1 270 7600 Fax: +36 1 270 7679 Email: [email protected] Internet: www.4ig.hu
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