Pre-Annual General Meeting Information • Jun 17, 2021
Pre-Annual General Meeting Information
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Notice is hereby given that a general meeting of shareholders constituting an Extraordinary General Meeting (the "EGM") of Partner Communications Company Ltd. (the "Company", "Partner" or "we") will be held on July 29, 2021 at 14:00 (Israel time), at our offices, 8 Ha'amal Street, Rosh Ha'ayin, Israel or at any adjournment thereof.
It is proposed at the EGM to adopt the following resolution:
(1) To approve the terms of office and employment of the CEO of the Company, Mr. Avi Zvi including, without limitation, to approve and ratify the Company's undertaking to indemnify Mr. Avi Zvi and to provide him with the Indemnification and Release Letter.
The vote of the holders of a majority of the Ordinary Shares, par value NIS 0.01 per share (the "Ordinary Shares") participating in the EGM and voting on the matter is required for the approval of item 1 on the agenda, provided, that one of the following conditions is fulfilled: (i) the majority of votes in favor of the matter shall include at least a majority of the votes of shareholders not constituting Controlling Parties (as stated in the Israeli Companies Law (1999), as amended (the "Israeli Companies Law"), including section 268 thereof, "Controlling Parties") in the Company, or those having a Personal Interest (as defined in the Israeli Companies Law, a "Personal Interest") in the approval of item 1 on the agenda, participating in the vote; which votes shall not include abstaining votes; or (ii) the total number of objecting votes of the shareholders mentioned in clause (i) does not exceed 2% of the total voting rights in the Company.
Only shareholders of record at the close of business on June 28, 2021 (the "Record Date") will be entitled to participate in and vote at the EGM, subject to the restrictions in the Company's Articles of Association, as set forth in the attached Proxy Statement. All shareholders are cordially invited to attend the EGM in person.
The Israeli Companies Regulations (Deeds of Vote and Position Notices) (2005), as amended, state that shareholders who will not attend the EGM in person may vote with respect to the item on the agenda by completing the second part of the Hebrew form of the Deed of Vote (ktav hatzba'a). For the shareholders' convenience an English convenience translation of the Deed of Vote is included. Under such regulations, the shareholders may also submit a position notice (hoda'at emda) to the Company's offices (envelope marked clearly as "position notice", to the Company Secretary, at the address stated above) in respect of the item on the agenda, no later than ten (10) days before the EGM meeting date (July 19, 2021). The deadline for submission of the Board of Directors' response to such position notices is July 24, 2021. Changes to the EGM agenda may be made after the filing of the Deed of Vote, including by adding an item to the agenda following a shareholder request (in accordance with Section 66(b) to the Israeli Companies Law) submitted to the Company no later than June 24, 2021 (seven (7) days following the date of filing the attached Proxy Statement), all in accordance with an amendment to the Israeli Companies Regulations (Notice and advertisement regarding a general meeting and a class meeting in a public company and the addition of an item to the agenda) (2000). In such case, the Company will file an amended agenda and an amended Deed of Vote no later than July 1, 2021. The filing of an amended agenda will not require the change of the Record Date as set forth above and in the attached Proxy Statement. The Hebrew form of the Deed of Vote, the amended agenda and the amended Deed of Vote (both, if any) and position notices are or will be available on the websites: www.magna.isa.gov.il or www.maya.tase.co.il; and an English convenience translation of the documents is available on Form 6-K at the U.S. Securities and Exchange Commission's EDGAR System http://www.sec.gov/edgar.shtml.
Shareholders who will not attend the EGM in person are requested to complete, date and sign the aforementioned form of Deed of Vote distributed herewith (or the amended Deed of Vote, if any) (either the Hebrew or the English version) and to return it promptly (and in any event at least four (4) hours prior to the time of the EGM) to the Company at its address above or use the electronic voting system for shareholder meetings of publicly listed Israeli companies via its MAGNA system, following a registration process, no later than six (6) hours before the time fixed for the EGM. The shareholders are requested to vote only once, either by sending the Deed of Vote (the Hebrew version or the English version, but not both) or by electronic voting. If a shareholder votes both ways, the vote shall be disqualified.
The Company's Articles of Association also allow shareholders registered in the Company's Shareholders Register to appoint a proxy to vote in their stead (whether personally or by means of a Deed of Vote) at the EGM, by means of a Deed of Authorization in the form attached to this Proxy Statement, so long as the Deed of Authorization is delivered to the Company at least four (4) hours prior to the time of the EGM. Shareholders may revoke their Deeds of Authorization by a written notice received at the Company's offices prior to the commencement of the EGM, and vote their shares in person.
Two or more shareholders holding Ordinary Shares conferring in the aggregate at least one-third of our voting rights, present in person or by proxy at the EGM, or who have delivered to us a Deed of Vote, will constitute a lawful quorum at the EGM. Should no lawful quorum be present one half hour following the time set for the EGM, the EGM shall be adjourned to August 5, 2021, at the same time and place.
A shareholder is entitled to contact the Company directly and receive the text of the Deed of Vote (ktav hatzba'a) (or the amended Deed of Vote, if any) and the Position Notices (hodaot emda) (if any).
A shareholder, whose shares are registered with a member of the Tel-Aviv Stock Exchange Ltd. (the "Exchange"), is required to prove his share ownership to vote at the EGM. Such shareholder shall provide the Company with an ownership certificate (as of the Record Date) from that Exchange member and is entitled to receive the ownership certificate in the branch of the Exchange member or by mail to his address (in consideration of mailing fees only), if the shareholder so requested. Such a request will be made in advance for a particular securities account.
A shareholder, whose shares are registered with an Exchange member, is entitled to receive from the Exchange member who holds the share on the shareholder's behalf, by e-mail, for no charge, a link to the text of the Deed of Vote (or the amended Deed of Vote, if any) and to the Position Notices (if any) posted on the Israel Securities Authority website, unless the shareholder notified that he is not so interested; provided, that the notice was provided with respect to a particular securities account, prior to the Record Date.
Copies of the proposed resolution are available at our offices, 8 Ha'amal Street, Rosh Ha'ayin, Israel, every business day from 9 a.m. to 5 p.m. (Israel time), following prior coordination at telephone number +972-54-7814191.
Dan Sharabi, Adv.
Head of Capital Markets & Company Secretariat Department
This Proxy Statement is furnished to the holders of Ordinary Shares, par value NIS 0.01 per share (the "Ordinary Shares"), including holders of American Depositary Shares (each representing one Ordinary Share, the "ADSs") of Partner Communications Company Ltd. (the "Company", "Partner" or "we") in connection with the solicitation by the Board of Directors of proxies for use at a general meeting of shareholders constituting an Extraordinary General Meeting (the "EGM"), to be held on July 29, 2021 commencing at 14:00 (Israel time), at our offices, 8 Ha'amal Street, Rosh Ha'ayin, Israel, or at any adjournment thereof.
It is proposed at the EGM to adopt the following resolution:
(1) To approve the terms of office and employment of the CEO of the Company, Mr. Avi Zvi including, without limitation, to approve and ratify the Company's undertaking to indemnify Mr. Avi Zvi and to provide him with the Indemnification and Release Letter.
A form of a Deed of Vote (Hebrew and English versions) for use at the EGM (either the Hebrew or the English version) is distributed herewith (or an amended Deed of Vote (if any) will be filed). The Deed of Vote shall also be deemed as a Deed of Vote (Ktav Hatzba'a) under the Israeli Companies Law (1999), as amended (the "Israeli Companies Law") and Israeli Companies Regulations (Deeds of Vote and Position Notices) (2005), as amended. Shareholders may withdraw their Deed of Vote by contacting the Company at its address above and duly proving their identity, at least 24 hours prior to the EGM and vote their shares in person. Ordinary Shares represented by any Deed of Vote in the Hebrew or the English version distributed herewith (or the amended Deed of Vote, if any), if properly executed and delivered to the Company at the address above at least four (4) hours prior to the time of the EGM or if voted electronically, no later than six (6) hours before the time fixed for the EGM, will be voted as indicated on the form.
In parallel to distribution of this Notice and Proxy Statement, the aforementioned Hebrew version of the Deed of Vote (ktav hatzba'a) per Israeli requirements and an English version of the Deed of Vote will be distributed among the shareholders. The shareholders are requested to send only one version of the Deed of Vote (the Hebrew version or the English version, but not both). If both versions will be sent by shareholders, in case of contradiction between the two versions (as determined by the Company Secretary), the vote shall be disqualified.
Proxies for use at the EGM are being solicited by the Board of Directors of the Company. Only shareholders of record at the close of business on June 28, 2021 will be entitled to participate in and vote at the EGM. Proxies are being distributed to shareholders on or about June 17, 2021; however, certain of our officer holders, directors, employees and agents, none of whom will receive additional compensation therefor, may solicit proxies by telephone, e-mail or other personal contact. Partner will bear the cost of the solicitation of the proxies by the Board of Directors, including postage, printing and handling, and will reimburse the reasonable expenses of brokerage firms and others for forwarding material to beneficial owners of Ordinary Shares.
On June 13, 2021, the Company had outstanding 183,905,513 Ordinary Shares, excluding 6,605,387 treasury shares. The holder of each Ordinary Share is entitled to one vote upon each of the matters to be presented at the EGM.
Registered joint holders of shares should take note that, pursuant to the Company's Articles of Association, only the first named joint holder of any share shall vote, either in person, by proxy or by Deed of Vote, without taking into account the other registered joint holder(s) of the share. For this purpose, the first named joint holder shall be the person whose name is registered first in the Shareholders Register.
Holders of ADSs are not registered in the Company's Shareholders Register but may instruct the Depositary, Citibank, N.A., as to the exercise of the voting rights pertaining to the Ordinary Shares evidenced by their ADSs in the manner and to the extent provided in the Depositary Agreement governing the ADSs.
* * * * *
On May 12, 2021, in accordance with the recommendation of the Company's Nominating Committee, the Board of Directors of the Company announced the appointment of Mr. Avi Zvi, to the office of CEO of the Company, effective June 1, 2021 ("Office Commencement Date").
According to that stated, presented herewith for approval are the terms of office and employment of the CEO, and the Company's engagement in an employment agreement with Mr. Avi Zvi ("Employment Agreement") for the position of the Company's CEO as of the Office Commencement Date.
Mr. Zvi served for ten years as the CEO of Reshet Broadcasting from 2009 until 2019. From 2007 until 2009 Mr. Zvi served as the CEO of Ofer Media as well as a member of the board of directors of Reshet Broadcasting. From 2007 until 2019 Mr. Zvi also served on the board of directors at Channel 2 news. Between 1999 and 2007 he served as an Executive Vice President of Netvision Ltd. Mr. Zvi also served between the years 2001 and 2007 as a member of the board of directors of Nana Portal of Netvision Group and between 2002 and 2007 as a member of the board of directors of Netvision Internet Applications Ltd.
Pursuant to section 272 (C.1.)(1) of the Israeli Companies Law, a company's engagement with the company's general manager in relation to his terms of office and employment that conforms to the compensation policy, must be approved by the compensation committee, the board of directors and the general meeting of the shareholders by a special majority set forth in section 267A of the Israeli Companies Law.
The Board of Directors appointed a nominating committee comprised of five directors: Ms. Osnat Ronen (Chairman), Mr. Barry Ben Zeev, Mr. Jonathan Kolodny, Mr. Richard Hunter and Mr. Shlomo Zohar ("Nominating Committee") to appoint a CEO, that conducted a comprehensive process, at ten meetings, at which, inter alia, the Nominating Committee examined numerous candidates, with the assistance of an external consultant, including a variety of leading CEOs and managers in the market, as well as internal candidates, and considered it important to appoint a CEO with a variety of capabilities, including: managerial and business capabilities and marketing vision in dealing with a complex and competitive market; the ability to lead Partner through its current and future challenges; a person with high interpersonal skills who understands the importance of building a unified and strong management team, who views relationships with employees as a significant and important asset and appreciates Partner's values. The Nominating Committee determined that Mr. Zvi has a combination of these capabilities, in addition to experience in the telecommunications field and impressive business and managerial experience. He displays business creativity and innovation and led the organizations in which he worked over the years to impressive economic results. In addition, Mr. Zvi has strong marketing and sales skills and the ability to build a strategic plan for the coming years including the development of new business lines. The Nominating Committee noted Mr. Zvi's managerial vision as well as Mr. Zvi's down-to-earth conduct, with a warm and accessible personality who recognize the importance of working closely with management and the employees. The Nominating Committee further noted Mr. Zvi's understanding of the importance of proper corporate governance in public companies, including acting in transparency vis-a-vis the Board of Directors. The Nominating Committee received very good recommendations regarding Mr. Zvi during discussions with a number of people who had direct and relevant information that were presented at length to the Board of Directors.
In light of the recommendation of the Nominating Committee, upon conclusion of the comprehensive and orderly process that it conducted, the Board of Directors determined that Mr. Zvi is the most suitable candidate to serve as CEO and lead Partner in its continued business activity for the coming years. Mr. Zvi's willingness to assume the position immediately, which is expected to reduce the interim period of replacement of the CEO and forming a new management team, will allow the company to focus on the next growth phases of the Company's business.
The Compensation Committee of the Company discussed the terms of office and employment of the Company's CEO and the Company's engagement in the Employment Agreement at two separate meetings after which the Company's Board of Directors discussed the matter at two separate additional meetings. The directors determined that Mr. Zvi's terms of office and employment are in accordance with the Company's Compensation Policy (the "Compensation Policy").
The Compensation Committee and the Board of Directors considered the provisions of the Compensation Policy, which include, inter alia, the requirement that compensation be linked to performance and that a correlation must be made between the interests of the Company's CEO and the interests of the Company and its shareholders, while examining criteria and relevant benchmarks in the market.
Prior to the meetings that approved Mr. Zvi's terms of office and employment, data was presented to the Compensation Committee and to the Board of Directors of the Company with regard to: the CEO's package of terms of office and employment according to the Employment Agreement; with regard to the Compensation Policy and its implications in terms of the cost of employing him at the Company; with regard to the comparative analysis conducted by Professor Moshe Zviran Ltd. of the terms of office and employment of CEOs at companies comparable to the Company; with regard to the terms of office and employment of the former CEO, Mr. Isaac Benbenisti and data regarding the ratio between the proposed compensation and the Salary Cost1 of the rest of the Company's employees and, particularly, the ratio to the average Salary Cost and the median Salary Cost of such employees and the impact of the gaps between them on labor relations in the Company.
Following are the principal terms of office and employment of the CEO of the Company:
Validity of the agreement: The terms of office and employment of Mr. Avi Zvi shall be in effect as of May 18, 2021 (Mr. Zvi's employment commencement date in preparation for the CEO position). The Employment Agreement is for an indefinite period.
1 "Salary Cost" – any payment made for the employment, including employer's provisions, payments in respect of retirement, vehicle and cost of use thereof and any other benefit or payment.
In accordance with the Companies Regulations (Relief for Transactions with Interested Parties), 5760-2000, in light of the approval by the Compensation Committee and the Board of Directors: (i) of the of the terms of office and employment of Mr. Zvi; (ii) that the terms of office and employment of Mr. Zvi are in accordance with the Company's Compensation Policy; and (iii) that the terms of office and employment of Mr. Zvi are not more beneficial to the CEO than the terms of office and employment of the previous CEO, the approval of the Compensation Committee and the Board of Directors of the terms of office and employment of the CEO in his Employment Agreement is in force and effect for the period commencing on May 18, 2021 until the convening of the EGM without the need for shareholder approval.
Salary: For the duration of the engagement period, Mr. Avi Zvi shall be entitled to a monthly salary, linked to the consumer price index ("CPI") last known on the payment date, compared to the base CPI (base index is the CPI in respect of April 2021), at the monthly sum of NIS 115,000 ("Fixed Component").
Variable component: In addition to the Fixed Component, Mr. Zvi shall be entitled to an annual cash bonus and a special bonus in respect of the achievement of quantitative and qualitative targets, and to equity compensation by way of options exercisable for shares and restricted shares of the Company as set forth below.
Mr. Zvi's entitlement to an annual cash bonus in respect of the achievement of quantitative and qualitative targets, shall be reviewed annually. The annual cash bonus to which Mr. Zvi shall be entitled, assuming full achievement (100%) of the Company's targets is up to ten (10) monthly salaries, subject to its increase insofar as the percentage achievement of the targets will exceed 100% in compliance with the Compensation Policy. The annual cash bonus shall be based on Company targets, using key performance indicators and performance evaluation to be defined by the Compensation Committee and the Board of Directors around the date of approval of the Company's budget for the following year.
It should be noted that Mr. Zvi is not entitled to an annual cash bonus for 2021.
Mr. Zvi will be entitled to a one-time special bonus, in accordance with section 5.5.3 of the Compensation Policy due to the special circumstances of his joining the Company, including his willingness to assume the position within short period of time and commence his employment immediately, which is expected to reduce the interim period of replacement of the CEO and formation of a new management team, and will allow the Company to focus on the next growth phases of the Company's business.
The Compensation Committee and the Board of Directors preferred conditioning the Special Bonus on the CEO's meeting specified pre-determined targets (as opposed to a signing bonus or a bonus that is contingent upon the passing of time only), whilst considering the fact that in 2021 the CEO is expected to work less than a full year.
The special bonus will be determined by the Compensation Committee and the Board of Directors according to the Company's condition, the CEO's compliance with the annual targets that were defined by the Compensation Committee and the Board of Directors. The special bonus amount for achievement of 100% of the following targets will be up to an amount of NIS 750,000, will be performance-based and will be determined by the Compensation Committee and the Board of Directors, at their full discretion. The Compensation Committee and the Board of Directors determined the following targets at their respective meetings on May 12, 2021:
Subject to the approval of the EGM, the equity incentive shall be granted to the CEO of the Company soon after having been approved by the EGM, at the value of approximately NIS 8.4 million (according to a Black & Scholes ("B&S") model)2 , comprised of 60% of the value in options of the Company (non-tradable) and 40% of the value in restricted shares, on June 16, 2021 (the date of the Board resolutions granting the equity subject to the EGM, the "Grant Date"), which was based inter alia on a comparative analysis conducted by Professor Moshe Zviran Ltd. mentioned above, and was brought to the Compensation Committee and to the Board of Directors for approval.
The exercise price of the Options in the CEO's equity incentive plan is 15.86 per Ordinary Share, reflecting the average closing price of the Company's share during the 30 trading days on the Tel Aviv Stock Exchange Ltd. preceding the Grant Date), plus a 5% premium. In compliance with the Company's Amended And Restated 2004 Equity Incentive Plan, the Restricted Shares Exercise Price is zero.
The Options and Restricted Shares shall be granted pursuant to the Company's Amended And Restated 2004 Equity Incentive Plan (the "Equity Plan"). The Options and Restricted Shares shall vest in 4 equal tranches, at the end of each year during the vesting after the Grant Date ("Vesting Changes Period"). The aforementioned vesting dates comply with the said plan. For details about the terms of the aforesaid incentive plan, see Exhibit 1(a)15. of the Company's Annual Report on Form 20-F for the year ended December 31, 2020 (inclusion here is by way of referral), at: http://maya.tase.co.il/bursa/report.asp?report\_cd=953397 and http://www.sec.gov/Archives/edgar/data/1096691/000117891315000814/exhibit\_15a-1.htm.
With respect to the Restricted Shares, pursuant to the requirement of the Company's Compensation Policy regarding restricted shares, in addition to the Vesting
2 The B&S model calculation was conducted according to the method set forth in note 21 of the financial statements in the Company's Annual Report on Form 20-F for the year ended December 31, 2020 with the necessary changes. Accordingly, such equity incentive includes 1,143,005 options (non-tradable) to acquire Ordinary Shares (the "Options") and 215,661 restricted Ordinary Shares (the "Restricted Shares").
Period, performance targets will also be defined and will constitute a precondition to vesting. The proposed performance targets relating to the earning of the restricted shares are as follows ("Performance Targets"):
First tranche of the restricted shares - achievement of at least 80% of the Company targets3 in 2021;
Second tranche of the restricted shares - achievement of at least 80% of the Company targets in 2022;
Third tranche of the restricted shares - achievement of at least 80% of the Company targets in 2023;
Fourth tranche of the restricted shares - achievement of at least 80% of the Company targets in 2024.
The vesting conditions for the restricted shares with respect to the Performance Targets will also include a mechanism for deferring vesting to the following years in the event of a failure to fulfill a criterion, provided that there is average achievement of the Performance Targets during the Vesting Period cumulatively.
If the Performance Targets are not achieved by the deadline defined for each tranche as stated above (including the deferred vesting), then the CEO will not be eligible for the restricted shares of that relevant tranche and they will be returned to the Company and classified as treasury shares.
Car: The Company shall bear the costs of car usage by the CEO and maintenance, (currently, an executive vehicle cost is a monthly sum of approximately NIS 23,000).
Work related benefits: Mr. Zvi shall be entitled to those benefits that are being granted to other office holders in the Company. These benefits include a telephone, a meals arrangement, mobile phone, connection to a multi-channel television service and various content applications, connection to the Internet, a subscription to two daily newspapers and additional benefits according to the Company's Compensation Policy and practices.
Indemnification, release and insurance: Pursuant to the Compensation Policy, and as approved at the Extraordinary General Meeting held on March 18, 2020, the Company may indemnify and release its directors and senior managers at the maximum extent permitted by law and the Company's Articles of Association, and grants them letters of indemnification and release for this purpose, substantially in the version approved by said 2020 Extraordinary General Meeting. Additionally, the directors and senior office holders of the Company are insured under the Company's D&O insurance policy. Accordingly, a letter of indemnification and release substantially in the version approved by the aforesaid 2020 Extraordinary General
3 According to the Company's Compensation Policy, annual bonus payments for senior management are determined with respect to a given year based on targets set for the Company as a whole, targets set for each of the Company divisions as well as on personal evaluations. The targets for the CEO and the senior management are set by the compensation committee and the Board of Directors generally in accordance with the overall Company objectives.
Meeting was granted (subject to the EGM) to Mr. Zvi (the "Indemnified Person") as detailed in the letter of indemnification and release attached hereto as Annex "A" (the "Indemnification and Release Letter"). The description herein is qualified in its entirety by reference to the full text of the attached Indemnification and Release Letter. Mr. Zvi is also covered under the aforesaid D&O insurance policy, which coverage is approved and ratified hereby.
For the sake of good order, it is noted that the Israeli Companies Law and the Company's Articles of Association authorize the Company, subject to the required approvals, to indemnify in advance and to undertake in advance to indemnify directors and other office holders of the Company (collectively, "Office Holders") for liabilities or expenses an Office Holder will incur, or that will be imposed on him or her, as a result of action or inaction by such person (or together with other Office Holders of the Company) in his or her capacity as an Office Holder of the Company. The Israeli Companies Law combined with the Israeli Securities Law of 1968 (the "Israeli Securities Law") authorize indemnification for:
under Chapter 4 of Part 9 of the Israeli Companies Law, in connection with any affairs including reasonable legal expenses (e.g., attorney fees), including by indemnification in advance.
(vi) Expenses incurred with respect to a proceeding in accordance with the Economic Competition Law, 1988 (previously known as the Restrictive Trade Practices Law of 1988), including reasonable litigation expenses that include attorney fees.
The Israeli Companies Law combined with the Israeli Securities Law provide that a company may not indemnify an Office Holder for his or her liability for: (a) a breach of duty of loyalty towards the company, unless the Office Holder acted in good faith and had reasonable grounds to assume that the action would not harm the company's best interest; (b) a breach of duty of care done intentionally or recklessly ("pezizut") except for negligence; (c) an act intended to unlawfully yield a personal profit; (d) a fine, civil fine ("knass ezrahi"), financial sanction (Itzum Caspi) or a penalty ("kofer") imposed upon the Office Holder; and (e) a Proceeding ("halich").
The Israeli Companies Law provides that a company may release an Office Holder in advance, subject to the provisions of the Israeli Companies Law, from liability towards that company for any damage caused and/or that will be caused to the company, insofar as will be caused, in consequence of the breach of the duty of care toward the company while acting in good faith, in his or her capacity as an Office Holder.
The Israeli Companies Law provides that a company may not release an Office Holder for: (a) a breach of duty of loyalty towards the company; (b) a breach of duty of care done intentionally or recklessly ("pezizut") except for negligence; (c) an act intended to unlawfully yield a personal profit; (d) a fine, civil fine ("knass ezrahi"), financial sanction ("itzum caspi") or a penalty ("kofer") imposed upon the Office Holder (e) his or her liability for a breach of duty of care in a distribution ("haluka"). Furthermore, the release from liability under the Indemnification and Release Letter will not be given for a resolution or transaction in which the controlling shareholder or any Office Holder in the Company (including other Office Holders than the one being granted the release) has a personal interest. The release from liability under the Indemnification and Release Letter will be for amounts for which the Office Holders are not entitled to indemnification in accordance with the Company's D&O insurance policy.
The aggregate indemnification amount payable by the Company to the Indemnified Person under Section 3.13 of the Indemnification and Release Letter (the "Maximum Indemnity Amount") and to all directors, officers and other indemnified persons, pursuant to indemnification letters granted on or after October 17, 2013 (including a maximum indemnity amount substantially similar to the Maximum Indemnity Amount), for each of the events set out in Schedule I to the Indemnification and Release Letter (each, an "Event"), will not exceed 25% of the shareholders equity (according to the latest reviewed or audited financial statements approved by the Company's Board of Directors prior to approval of the indemnification payment); provided, however, that under the circumstances where indemnification for the same Event is to be made in parallel to (i) the Indemnified Person under the Indemnification and Release Letter and any other indemnified person under another indemnification letter (or other letters) including a maximum indemnity amount substantially similar to the Maximum Indemnity Amount, and to (ii) one or more indemnified persons under indemnification letters issued (or to be issued) by the Company containing a maximum indemnity amount which is the higher of 25% of shareholders equity and 25% of market capitalization (the "Combined Maximum Indemnity Amount"), the Maximum Indemnity Amount for the Indemnified Person under the Indemnification and Release Letter and any other indemnified person under another indemnification letter (or other letters) including a maximum indemnity amount substantially similar to the Maximum Indemnity Amount, shall be adjusted so it does not exceed the Combined Maximum Indemnity Amount to which any other indemnified person is entitled under any indemnification letter containing the Combined Maximum Indemnity Amount. As under the applicable indemnification letters, the Maximum Indemnity Amount and the Combined Indemnity Amount are examined each time anew at the relevant time or times of indemnification according to then available data regarding shareholder equity and market capital, we currently foresee that the proviso (adjusting indemnification amount) could apply under the circumstances that indemnification for more than one Event is to be made during the same quarter (or otherwise at the same time).
The Compensation Committee and Board of Directors have considered several factors in connection with the proposed resolutions, including the following: (a) that generally, the indemnification letter should be in a uniform manner for all directors and officers at the time of the grant (as customary) and it is not appropriate to adjust it to the circumstances of each officer individually or to other compensation he receives from the Company and it should be set according to quantifiable criteria and it is irrelevant to compare the indemnification letter to the compensation of Company's employees (or the employees of manpower contractors who are working at the Company). In addition, the essence of the indemnification letter does not allow for the possibility of retaining discretion with respect to a reduction of the indemnification when it is actually paid; (b) that the Indemnification and Release Letter includes a condition that clarifies that the Indemnified Person will be required to repay the Company amounts paid to him based on data or financial results that will later on be found to be erroneous and will be restated in Partner's financial statements; (c) that granting the Indemnification and Release Letter to the Indemnified Person is important to enable him to promote the Company's objectives, its business plan and policy in the long term and to create proper and balanced incentives to the Indemnified Person considering, among other things, the Company's risk-management policy, size and nature of activities; (d) that granting the Indemnification and Release Letter to the Indemnified Person is essential to ensure the recruitment and service of appropriate officers, having the qualifications, expertise and experience relevant to serving as a CEO, considering the high exposure faced today by officers in public companies and moreover in companies with securities publicly listed in the USA and in Israel.
The Compensation Committee and the Board of Directors have approved and ratified, and recommended to the shareholders at the EGM to approve and ratify, the grant of the Indemnification and Release Letter to Mr. Zvi, resolved that the Maximum Indemnity Amount is reasonable given the circumstances and that the indemnification Events listed on Schedule I of the Indemnification and Release Letter are anticipated in light of Partner's current activities, and resolved that such resolutions are in the best interest of the Company.
Termination of service: In the event of termination of the Employment Agreement, Mr. Zvi shall be entitled to, and shall be required to issue, advance notice of three months during the first year of employment and six months during the second year of employment onwards. During the advance notice period, Mr. Zvi shall be required to continue working, except during the last three months of the advance notice period as of the second year of his employment, in case Mr. Zvi will notify the Company that he cannot continue to be employed by the Company during such period. It is clarified that even if the Board of Directors shall waive Mr. Zvi's work during the advance notice period or if the Company shall redeem the advance notice period, the annual bonus shall be paid for this period.
In addition to the advance notice period, upon termination of the Employment Agreement, Mr. Zvi shall be entitled to an adjustment period of six months following the lapse of the advance notice period, during which he is not required to work (but generally receive his compensation, except the annual bonus. Such adjustment period is valid also for the first year of employment (in accordance with section 5.5.3 of the Compensation Policy, ad hoc, due to the special circumstances of Mr. Zvi assuming the position of CEO, including his willingness to assume the position upon short notice and commence his employment immediately, which is expected to reduce the interim period of replacement of the CEO and formation of a new management team, which will allow the Company to focus on the next growth phase of the Company's business).
In compliance with clause 9 of the Compensation Policy, the Company's CEO shall be required to return sums to the Company that had been paid to him (and vice versa) as annual basis or another performance-based bonus or other compensation on the basis of data that subsequently were discovered to be erroneous and were restated in the Company's financial statements, if and insofar as this shall transpire. It is clarified that subject to any law binding the Company, the CEO shall only be accountable for errors made during his term as CEO, and shall not be required to return such sums resulting from errors made prior to his term of office including amendments to the financial statements that are unrelated to his conduct.
The ratio between the value of Mr. Zvi's terms of employment and the average Salary Cost of the Company's employees, excluding employees of Manpower Contractors who are working at the Company, is approximately 25, while the ratio between the value of Mr. Zvi's terms of employment and the median Salary Cost of the
4 "Employees of a Manpower Contractor who are working at the Company" – employees of a Manpower Contractor, when the Company is their Actual Employer, and employees of a Service Contractor who are engaged in the provision of a service at the Company; in this context, "Manpower Contractor," "Service Contractor," "Actual Employer" – as these terms are defined in the Employment of Employees by Manpower Contractors Law, 5756 – 1996.
Company's employees, excluding employees of Manpower Contractors who are working at the Company, is approximately 35.
The aforesaid ratios do not include data regarding the average Salary Cost and median Salary Cost of employees of Manpower Contractors since the total effect of such data on the average Salary Cost is marginal and its inclusion would not have led to a substantially different result. Considering the CEO's role and the difference in the Salary Cost levels, these gaps do not suffice to affect labor relations in the Company.
The Compensation Committee and the Board of Directors discussed the ratio between the fixed proposed compensation regarding the CEO and the variable equity and cash compensation and reached the conclusion that the aforesaid ratios are in accordance with the Compensation Policy.
In addition to the specific rationales mentioned above regarding certain components of Mr. Zvi's remuneration, the following rationales were also mentioned:
(a) The terms of office and employment of the Company's CEO are consistent with the Compensation Policy, are congruent with its objective and the inclusive monetary total to the CEO; (b) An external, independent, expert appraiser compared the CEO's employment terms to those of CEOs at comparable companies and found that they do not deviate from the range of overall compensation being paid to such office holders at similar companies; (c) Mr. Zvi's terms of employment are commensurate, considering Mr. Zvi's qualifications, expertise and extensive experience in the telecommunications industry in general, and taking into account Mr. Zvi's performance in his various roles in the past and currently; (d) Considering the nature of the Company's activities, Mr. Zvi's executive office as the Company's CEO and considering the responsibility being imposed on him, the ratio between the cost of Mr. Zvi's terms of employment being submitted now for approval and the average and median cost of employment of the Company's employees, is a reasonable ratio, and will not adversely affect labor relations in the Company; (e) The office and employment terms include an appropriate balance between the fixed components and the variable components. The variable components are limited to maximums that are consistent with the requirement for a close link between payments to the CEO and the Company's performance and increase of its profits, while protecting the interests of the Company and its shareholders; and (f) Considering the set of parameters and considerations, as well as the reasons specified above, and considering, inter alia, the size of the Company, and the scope, complexity and nature of its operations, considering the complexity of the office and the degree of responsibility being imposed on him, the Compensation Committee and the Board of Directors determined that the terms of employment of the CEO, Mr. Avi Zvi, are fair, reasonable and customary, under the circumstances.
In accordance with the Israeli Companies Law, if the shareholders oppose the approval of a specific compensation plan of an officer, the Compensation Committee and Board of Directors may approve said plan, in "special cases", notwithstanding shareholders' opposition, after having held another discussion of the terms of said compensation plan, and on the basis of detailed reasoning that considered the rationale behind the shareholders' opposition and determined that this resolution is in the best interest of the Company.
It is proposed that at the EGM the following resolutions be adopted:
The vote of the holders of a majority of the Ordinary Shares participating in the EGM and voting on the matter is required for the approval of item 1 on the agenda; provided, that one of the following conditions is fulfilled: (i) the majority of votes in favor of the matter shall include at least a majority of the votes of shareholders not constituting Controlling Parties in the Company, or those having a Personal Interest in the approval of the item participating in the vote; which votes shall not include abstaining votes; or (ii) the total number of objecting votes of the shareholders mentioned in clause (i) does not exceed 2% of the total voting rights in the Company.
A shareholder shall notify the Company at the address above at least four (4) hours prior to the time of the EGM, whether the shareholder is a Controlling Party in the Company or the shareholder has a Personal Interest in the approval of item 1 on the agenda or not, as a condition for that shareholder's right to vote and be counted with respect to this item. A shareholder voting, by means of a Deed of Vote, may include said notice regarding his Controlling Party interest or his Personal Interest on the Deed of Vote (to be submitted to the Company at least four (4) hours prior to the time of the EGM).
Partner conducts its operations pursuant to licenses granted to Partner, directly or indirectly, by the Minister of Communications of the State of Israel (including the License). Partner's Articles of Association and, with respect to shareholders other than shareholders of Partner prior to its public offering, the License contains provisions that may cause the suspension of voting rights of the holders of Ordinary Shares or ADSs if such voting rights would breach the ownership limits contained in the License. These limits prohibit the transfer or acquisition of 10% or more of Partner's means of control and acquisition of control of the Company without the consent of the Minister of Communications of Israel, and restrict cross-control and cross-ownership of other mobile telephone operators in Israel, and shareholdings and agreements which may reduce or harm competition. Ordinary Shares or Ordinary Shares represented by ADSs held in breach of these limits may be considered dormant shares. Notwithstanding anything to the contrary in this Proxy Statement, dormant shares will not bear any rights to which the holders would otherwise be entitled, other than the right to receive dividends and other distributions to shareholders (including the right to participate in rights offerings). Specifically, the holders of dormant shares will not have voting rights with respect to their dormant shares, nor will they have the right to participate in general meetings of shareholders. Under certain licenses granted, to Partner, directly or indirectly, approval of, or notice to, the Minister of Communications of the State of Israel may be required for holding of 5% or more of Partner's means of control.
Any shareholder seeking to vote at the EGM must notify the Company prior to the vote, or indicate on the Deed of Vote (if a shareholder is seeking to vote by Deed of Vote), or indicate on the Deed of Authorization (if a shareholder is seeking to appoint a proxy by a Deed of Authorization), if any of the shareholder's holdings in Partner or the shareholder's vote require the consent of the Minister of Communications due to a breach by the shareholder of the restrictions on the transfer or acquisition of means of control or acquisition of control of Partner, or the provisions regarding cross-ownership or cross-control of other mobile telephone operators in Israel, in each case as specified in Sections 21 and 23 of the License (a translation of Sections 21-24 of the License is attached hereto as "Annex B"). If a shareholder does not provide such notification, the shareholder shall not vote and, if the shareholder has voted, his vote shall not be counted.
Dan Sharabi, Adv.
Head of Capital Markets & Company Secretariat Department
Dated: June 17, 2021
Dear Mr. ________________
Date: ______________
Upon the occurrence of an event for which you may be entitled to be indemnified, subject to the terms of this letter (including the limitations as to amount in Section 3.13) and any laws applicable at such time, Partner shall provide you with the necessary payments to cover all your expenses in respect of the legal proceedings in question, so that you will not have to pay for or finance them yourself.
letters issued (or to be issued) by Partner containing a maximum indemnity amount which is the higher of 25% of shareholders equity and 25% of market capitalization (the "Combined Maximum Indemnity Amount"), the Maximum Indemnity Amount for you hereby shall be adjusted so it does not exceed the Combined Maximum Indemnity Amount to which any other indemnified person is entitled under any other indemnification letter containing the Combined Maximum Indemnity Amount.
You should be aware that, insofar as indemnification for liabilities arising under the United States Securities Act of 1933 (the "U.S. Securities Act") may be permitted to Partner's directors and officers, Partner has been advised that in the opinion of the U.S. Securities and Exchange Commission (the "SEC") such indemnification is against public policy as expressed in the U.S. Securities Act and is, therefore, unenforceable. In the event of a claim for such indemnification, Partner will (in accordance with an undertaking given to the SEC), unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification is against public policy as expressed in the U.S. Securities Act and will be governed by the final adjudication of such issue.
The law of the State of Israel shall govern this Letter of Indemnification and Release and all issues related thereto, without giving effect to any conflicts of law principles. The courts in Tel Aviv, Israel shall have the exclusive local and international jurisdiction, in connection with this Letter of Indemnification and Release, except if an indemnification claim is related to a legal proceeding, already filed by a third party in a different court.
Respectfully,
______________________ On behalf of Partner Communications Company Ltd.
I accept the terms and conditions of the above. I was informed that Partner has granted (and may grant) indemnification letters with maximum indemnity amounts different from the Maximum Indemnity Amount under this letter (including, without limitation, the Combined Maximum Indemnity Amount) and consequently, the beneficiaries of those indemnification letters may receive higher indemnification amounts than me, and I will have no claim against Partner in that respect. I am aware that my agreement to accept this letter constitutes my irrevocable agreement that any previous undertakings of Partner for indemnification, to the extent granted, should become void automatically upon my signing this letter. Notwithstanding the above, if this indemnification letter shall be void for any reason whatsoever, then, any previous undertaking of Partner for indemnification towards me shall remain in full force and effect.
Signature: _____________
Name: ________________
| Date: ____ | |
|---|---|
| ------------------------ | -- |
Subject to the provisions of the law, the following are the events referred to in section 1.1 of the Letter of Indemnification and Release:
Without limiting the generality of the foregoing, Partner's public offering of equity in 1999, public offering of debt securities in 2000, public offering of debt securities in 2005 (including any subsequent offer and sale of the debt securities of that class), redemption of debt securities in 2005, shelf registration in 2009, private offering of debt securities in 2009, public offering of debt securities in 2010, private offering of debt securities in 2011, public offering of debt securities in 2011 and shelf registration in 2012.
Partner, any subsidiary thereof and/or any affiliate thereof with, of or into another entity and/or the sale or proposed sale of the operations and/or business, or part thereof, or any dissolution, receivership, creditors' arrangement, stay of proceeding or any similar proceeding, of Partner, any of its Subsidiaries and/or any of its affiliates.
Without limiting the generality of the foregoing, any share repurchase and distribution of dividends, including, without limitation, in 2005 and distribution of dividends during the calendar years of 2006, 2007, 2008, 2009, 2010 (including the special dividend distribution as of March 2010, approved by the District Court), 2011 and 2012.
In each of the events specified above, including, without limitation, in connection with documents relating to these matters, and in connection with actions or decisions relating to these matters, and in connection with representations and undertakings made relating to these matters, including, without limitation, such representations and undertakings made towards third parties (including, without limitation, governmental authorities) or towards Partner or anyone on its behalf (including, without limitation, advisors, such as accountants, lawyers, etc.).
In each of the events specified above, reference to any action includes also failure to perform an action (omission) or performing it poorly (including, without limitation, non- performance of an action required under law or performing it in a poor manner that does not comply with the legal requirements), and including, without limitation, making a decision; in each case, unless the context in a specific item above does not allow this interpretation.
* * * * *
In this Clause 21, "Tradable Means of Control" – Means of Control, including Global or American Depository Shares (GDR's or ADR's), or similar certificates, registered for trading on the securities exchange in Israel or overseas, and offered to the public by prospectus, or held by the public in Israel or overseas.
21.6 Neither the entry into an underwriting agreement relating to the issue or sale of securities to the public, the registration for trading on the securities exchange in Israel or overseas, nor the deposit or registration of securities with a registration company or with a depository agent or a custodian for the purpose of registration of GDRs or ADRs or similar certificates relating to the issue or sale of securities to the public shall in and of themselves be considered as a transfer of Means of Control in the Licensee3 .
1 Amendment No. 52
2 Amendment No. 3
3 Amendment No. 4
Without derogating form the generality of the above:
For the purposes of this clause:
"Irregular Holdings" – the holding of Tradable Means of Control without the Minister's consent as required under clause 23, and all holdings of a person holding Tradable Means of Control acting contrary to the provisions of clause 24; for so long as the Minister's consent under clause 21 has been sought but not yet granted, or whilst there is a situation of breach of the provisions of clauses 23 or 24.
21.5 and 21.7, and for so long as none of the holdings of 4Founding Shareholders or their Substitutes reduces to less than 56 267% of all Means of Control in the Licensee immediately prior to the listing of the shares for trade, and for so long as the Articles of Association of the Licensee provide that a majority of the voting power in the general meeting of the Licensee may appoint all members of the Board of Directors of the Licensee, other than external directors required by any law and/or the relevant Exchange Rules, the Irregular Holdings shall not, in and of themselves, give rise to a cause for the cancellation of the Licensee.
'For the purpose of this article: "Founding Shareholders or their Substitutes"- Matbit Telecommunications Systems Ltd., Advent Investment Pte Limited, Matav Investments Ltd and Tapuz Cellular Systems limited Partnership as well as any other entity that one of them has transferred the Means of Control in the Licensee to, with the Minister's consent, before 4.7.2004 (each of the above entities shall be termed "Founding Shareholder"), as well as any other entity that a Founding Shareholder will transfer Means of Control in the Licensee to after 4.7.2004, provided that the Minister gave his written consent that the transferree be considered for this matter as the Founding Shareholder's substitute from the date to be determined by the Minister, including anyone that is an Israel Entity as defined in Article 22A.2, that purchased Means of Control from the Licensee and received the Minister's approval to be considered a founding shareholder or their substitute from the date set by the Minister8 , unless an instruction was given to the Licensee in accordance with article 13 of the law, as set forth in section 22A.2(2)9 . Such consent under this article does not exempt the Licensee from the obligation to receive the Minister's consent for every transfer of the Means of Control in the Licensee that requires the Minister's consent in accordance with any other article in the License. 10
21.9 The provisions of clauses 21.5 through 21.8 shall not apply to the founding shareholders or their substitutes.11 .
Any shareholder in the company that holds the License, or a shareholder in an Interested Party in the same company, is not allowed to encumber his/her shares, in a way that the realization of the charge would cause a change in the ownership in ten percent (10%) or more of any of the Means of Control in the Licensee, unless the charge agreement includes a constraint, according to which the charge cannot be realized without prior consent, in writing, by the Minister.
4 Amendment No. 25
5 Amendment No. 9
6 Amendment No. 28
7Amendment No. 31
8 Amendment No. 31
9 Amendment No. 105
10 Amendment No. 25
11 Amendment No. 31
In this Article-
Israeli Entity"- for an individual-an Israeli Citizen or Resident of Israel, for a corporation- a corporation that was incorporated in Israel and an individual that is an Israeli Citizen and a Resident of Israel, controls the corporation either directly or indirectly, as long as the indirect control shall be only through a corporation that was incorporated in Israel, one or more. However, for the matter of indirect holdings, the Prime Minister and the Minister of Communications may approve holdings through a corporation that has not been incorporated in Israel, as long as the corporation does not directly hold shares in the Licensee, and only if they are convinced that this will not derogate from the provisions of this article. For this matter, "Israeli Citizen"- as defined in the Nationality Law, 5712-1952; "Resident"-as defined in the Inhabitants Registry Law, 5725-1965; "Dormant Shares"- as defined in Article 308 of the Companies Law, 5759-1999.
(2) Sub-section (1) shall not apply, if the corporation was given an instruction in accordance with Article 13 of the Law, as set forth in Article 22A.2(2).
22A.3 At least one tenth (10%) of the members of the Board of Directors of the Licensee shall be appointed by the Israeli Entities as set forth in Article 22A.2. Notwithstanding the above-mentioned, for this matter- if the Board of Directors of the Licensee shall consist of up to 14 members – at least one director shall be appointed by the Israeli entities as set forth in Article 22.2A
12 Amendment No. 31-Amendment No. 31 will come into effect upon completion of all of the obligations set forth in article 22A and no later than 30 June 2005, in accordance with the Ministry of Communications document 62/05-4031 dated 13 March 2005
13 Amendment No. 105
above, if the Board of Directors of the Licensee shall consist of between 15 and 24 members-at least 2 directors shall be appointed by the Israeli entities as set forth in Article 22.2A above and so on and so forth. 14This Article shall not apply if an instruction was given to the Licensee in accordance with Article 13 of the Law, as set forth in Article 22A.2(2).
22A.4 The Licensee's Board of Directors shall appoint from among its members that have security clearance and security compatibility to be determined by the General Security Service (hereinafter: " Directors with Clearance") a committee to be designated "the Committee for Security Matters", or CSM.
The CSM shall consist of at least 4 Directors with Clearance including at least one External Director. Security matters shall be discussed, subject to Article 22A.5, solely by the CSM. A resolution that was adopted or an action that was taken by the CSM, shall have the same effect as a resolution that was adopted or an action that was taken by the Board of Directors and shall be discussed by the Board of Directors only if necessary in accordance with Article 22A.5 and subject to Article 22A.5.
In this article-"security matters"-as defined in the Bezeq Order (Determination of Essential Service Provided by "Bezeq", the Israeli Telecommunications Company Ltd), 5757-1997, as of March 9, 2005.
22A.5 Security matters that the Board of Directors or the Audit Committee of the Licensee shall be required to consider in accordance with the mandatory provisions of the Companies Law, 5759-1999, or in accordance with the mandatory provisions of any other law that applies to the Licensee shall be discussed, if they need to be discussed by the Board of Directors or the Audit Committee, only in the presence of Directors with Clearance. Directors that do not have security clearance shall not be allowed to participate in this Board of Directors or Audit Committee meeting and shall not be entitled to receive information or to review documents that relate to this matter. The legal quorum for such meetings shall include only Directors with Clearance.
The Licensee may set out in its Articles of Association that an Office Holder, who in the capacity of his position or based on the provisions of the law or the Articles of Association, should have received information or participate in security matter meetings and this was denied him due to Article 22A.5, will be released from any liability for any claim of breach of duty of care towards the Licensee, if the breach of duty of care was a result of his or her inability to participate in the meetings or receive information.
22A.6 The shareholders at a general meeting shall not be entitled to assume, delegate, transfer or exercise any of the authorities granted to another organ in the company, regarding security matters
14 Amendment NO. 105
In any case of a dispute regarding a conflict of interest of the observer, the matter shall be decided by the State Attorney General or a person on his behalf.
22A.8 The provisions of Article 22A of the License shall be adopted in the Articles of Association of the Licensee.
15 Amendment No. 10
Party in the Licensee or competing MRT Operator is an Interested Party merely by virtue of the provisions of Article 23.6 .
The Licensee, any body in which the Licensee is an Interested Party, an Office Holder in the Licensee or an Interested Party in the company holding the License or an Office Holder in an Interested Party therein, will not be party to any agreement, arrangement or understanding with a Competing MRT Operator, or an Interested Party or an Office Holder in it, or an Office Holder in an Interested Party in a Competing MRT Operator, or any other body in which a Competing MRT Operator is an Interested Party, which are intended to or might reduce or harm competition in anything that pertains to MRT Services, MRT Terminal Equipment or any other Telecommunications Services.
24.216 Without derogating from the aforementioned in Article 24.1, the Licensee may reach a Cooperati
16 Amendment No. 83
17 ביוני 2021
חברת פרטנר תקשורת בע"מ )"החברה"(
אסיפה כללית מיוחדת )"האסיפה המיוחדת"( של בעלי מניות החברה תתכנס ביום חמישי, 29 ביולי ,2021 בשעה 14:00 )שעון ישראל( במשרדי החברה ברחוב העמל ,8 ראש העין, ישראל או בכל מועד נדחה של האסיפה המיוחדת. לבירורים ניתן להתקשר לטל': .054-7814191
על פי חוק החברות, התשנ"ט,1999- כפי שתוקן )"חוק החברות"( תקנות החברות )הוכחת בעלות במניה לצורך הצבעה באסיפה הכללית(, התש"ס2000- ותקנות החברות )הצבעה בכתב והודעות עמדה(, התשס"ו,2005- כפי שתוקנו )יקראו יחד: "תקנות כתבי הצבעה"(, בעלי מניות שלא ישתתפו באסיפה המיוחדת באופן אישי, רשאים להצביע על נושא 1 שעל סדר היום באמצעות כתב הצבעה או באמצעות כתב הצבעה שיועבר במערכת הצבעה אלקטרונית כהגדרתה בתקנות כתבי הצבעה ועל נושאים אלה חלות הוראות המפורטות בחוק החברות ובתקנות כתבי הצבעה )"הליכי הצבעה בכתב"(.
להלן תמצית עיקרי ההחלטות המוצעות לגביהן ניתן להצביע באמצעות כתב ההצבעה:
ביום 12 במאי, ,2021 בהתאם להמלצת ועדת האיתור של החברה, הודיעה דירקטוריון החברה על מינויו של מר אבי צבי, למנכ"ל החברה וזאת החל מיום 1 ביוני, 2021 )"מועד תחילת הכהונה"(.
בהתאם לאמור, מובאים בזאת לאישור תנאי הכהונה והעסקה של המנכ"ל וכן התקשרות החברה בהסכם העסקה עם מר אבי צבי )"הסכם ההעסקה"( לתפקיד מנכ"ל החברה, החל ממועד תחילת הכהונה.
סיכום זה כפוף לתיאור המלא במסמך הזימון.
בהתאם לסעיף 272 )ג1()1( לחוק החברות, התקשרות של החברה עם מנהלה הכללי של החברה, באשר לתנאי כהונתו והעסקתו, שהנה בהתאם למדיניות התגמול, טעונה אישור ועדת התגמול, הדירקטוריון והאסיפה הכללית של בעלי המניות ברוב במיוחד הקבוע בסעיף 267א לחוק החברות. לאור המלצת ועדת האיתור שמונתה על ידי הדירקטוריון על מנת למנות מנכ"ל, בתום הליך האיתור המקיף והסדור אשר התנהל על ידה, החליט הדירקטוריון כי מר אבי צבי הינו המועמד מתאים ביותר לכהן כמנכ"ל החברה ולהוביל את פרטנר בהמשך פעילותה העסקית בשנים הקרובות.
ועדת התגמול של החברה דנה בנושא תנאי הכהונה וההעסקה של מנכ"ל החברה וכן התקשרות החברה בהסכם ההעסקה, בשתי ישיבות, ולאחר מכן דירקטוריון החברה דן בנושא בשתי ישיבות נוספות. הדירקטורים קבעו כי תנאי הכהונה והעסקה של מר צבי הם בהתאם למדיניות התגמול של החברה )"מדיניות התגמול"(.
ועדת התגמול והדירקטוריון שקלו את הוראות מדיניות התגמול הכוללות, בין היתר, את הדרישה לקשור בין תגמול לביצועים וליצור מתאם בין האינטרסים של מנכ"ל החברה לבין האינטרסים של החברה ובעלי מניותיה, תוך בחינת אמות מידה ונקודות השוואה רלוונטיות ומגמות בשוק.
בפני ועדת התגמול ודירקטוריון החברה הוצגו טרם הישיבות במסגרתן אישרו את תנאי הכהונה וההעסקה, נתונים בדבר: מכלול תנאי כהונתו והעסקתו של המנכ"ל לפי הסכם ההעסקה, מדיניות התגמול והשלכותיה על עלות העסקתו בחברה, נתוני מחקר השוואתי שערך פרופ' משה צבירן, בנוגע לתנאי כהונה והעסקה של מנכ"ל החברה בחברות בנות השוואה לחברה, נתונים בדבר תנאי הכהונה והעסקה של המנכ"ל הקודם, מר איציק בנבנישתי, ונתונים 1 בנוגע ליחס שבין התגמול המוצע לעלות השכר של שאר עובדי החברה ובפרט היחס לעלות השכר הממוצע ועלות השכר החציוני של עובדים כאמור והשפעת הפערים ביניהם על יחסי העבודה בחברה.
הסיכום להלן כפוף לתיאור המלא במסמך הזימון.
נימוקי ועדת התגמול והדירקטוריון לאישור תנאי הכהונה והעסקה של מנכ"ל החברה מפורטים במסמך הזימון לאסיפה.
בהתחשב במכלול הפרמטרים והשיקולים ולאור הנימוקים המפורטים במסמך הזימון לאסיפה, ובהתחשב בין היתר בגודל החברה, היקפה, מורכבותה ואופי פעילותה; מורכבות התפקיד והיקף האחריות המוטל על מר אבי צבי; קבעו ועדת התגמול והדירקטוריון כי תנאי העסקתו של המנכ"ל, מר אבי צבי, הנם הוגנים, סבירים ומקובלים בנסיבות העניין ולפיכך החליטו והמליצו לבעלי המניות באסיפה המיוחדת, לאשר את תנאי הכהונה וההעסקה של מר אבי צבי.
בהתאם לחוק החברות, היה והאסיפה המיוחדת התנגדה לאישור תכנית תגמול, ב"מקרים מיוחדים" יוכלו ועדת התגמול והדירקטוריון לאשר את התכנית חרף התנגדות האסיפה, וזאת לאחר קיום דיון חוזר בתנאי תכנית התגמול ועל יסוד נימוקים מפורטים, תוך בחינת נימוקי התנגדות האסיפה וקביעה כי החלטה כאמור היא לטובת החברה.
מוצע כי באסיפה המיוחדת תאומצנה ההחלטות הבאות:
1 "עלות שכר"-כל תשלום ששולם עבור ההעסקה, לרבות הפרשות המעסיק, תשלומים בגין פרישה, רכב ועלות השימוש בהם וכל הטבה או תשלום אחר.
לפרטים נוספים בדבר הנושא על סדר יום האסיפה המיוחדת ונוסחן המלא של ההחלטות, ראו מסמך הזימון לאסיפה )Statement Proxy )מיום 17 ביוני 2021 המופץ במקביל לכתב הצבעה זה.
מסמך הזימון לאסיפה - Statement Proxy( בשפה האנגלית( בעניין האסיפה המיוחדת, המופץ במקביל לכתב הצבעה זה, כולל את הנוסח המלא של ההחלטות המוצעות ויעמוד לעיון במשרדי החברה ברחוב העמל ,8 ראש העין, ישראל, בימים א'-ה' בין השעות 9:00-17:00 )שעון ישראל(, לאחר תיאום מראש בטלפון ,054-7814191 וזאת עד מועד כינוס האסיפה המיוחדת לאישור ההחלטות שעל סדר היום. בנוסף, מסמך ה-Statement Proxy מפורסם באתר ההפצה של המגנא il.gov.isa.magna.www, באתר הבורסה il.co.tase.maya.www ובמערכת התיוק האלקטרוני EDGAR של הרשות לניירות ערך בארה"ב shtml.edgar/gov.sec.www://http. מסמך ה-Statement Proxy כולל מידע נוסף על תוכן כתב הצבעה זה וחשוב שבעלי המניות יעיינו גם בו.
הרוב הנדרש לקבלת ההחלטות בנושא 1 שעל סדר היום, הכפוף להליכי הצבעה בכתב, הוא רוב קולות בעלי המניות הרגילות, המשתתפים באסיפה המיוחדת והמצביעים בה, ובלבד שיתקיים אחד מאלה:)i )במניין קולות הרוב ייכלל רוב מכלל קולות בעלי המניות שאינם בעלי שליטה בחברה )כמצוין בחוק החברות, לרבות סעיף 268 לחוק החברות, "בעל שליטה"( או בעלי ענין אישי )כמוגדר בחוק החברות, "בעל ענין אישי"( באישור נושאים אלה, המשתתפים בהצבעה; במניין כלל הקולות של בעלי המניות האמורים לא יובאו בחשבון קולות הנמנעים; או )ii )סך קולות המתנגדים מקרב בעלי המניות האמורים בפסקת משנה )i )לא עלה על שיעור של 2% מכלל זכויות ההצבעה בחברה.
בחלק השני של כתב הצבעה זה מוקצה מקום לסימון ולפירוט האם בעל מניות הוא בעל ענין אישי בהחלטה, הוא בעל שליטה בחברה, הוא נושא משרה בכירה או הוא משקיע מוסדי )לפי המקרה(, כקבוע בחוק החברות ובתקנות כתבי הצבעה. הצבעת בעל מניות שלא יסמן או יפרט כאמור, לא תובא במניין הקולות ביחס לכל ההחלטות שעל סדר היום.
כל בעל מניות נדרש לציין גם האם נדרשת הסכמת משרד התקשורת להחזקת המניות על ידו או להצבעתו, בהתאם לרישיונות פרטנר. הצבעת בעל מניות שלא יסמן כאמור, לא תובא במניין הקולות.
לכתב הצבעה של בעל מניות שמניותיו רשומות אצל חבר הבורסה לניירות ערך בתל אביב בע"מ )"הבורסה"(, יהיה תוקף רק אם צורף לו אישור בעלות מאת חבר הבורסה נכון למועד הקובע. מסר אלקטרוני מאושר לפי סעיף 44יא5 לחוק ניירות ערך, שעניינו נתוני המשתמשים במערכת ההצבעה האלקטרונית – דינו כדין אישור בעלות לגבי כל בעל מניות הנכלל בו. לכתב הצבעה של בעל מניות הרשום במרשם בעלי המניות של החברה, יהיה תוקף רק אם צורף לו צילום תעודת זהות, דרכון או תעודת התאגדות.
יש למסור את כתב ההצבעה לחברה או לשולחו בדואר רשום כך שיגיע למשרדי החברה עד ארבע )4( שעות לפני מועד האסיפה המיוחדת. ההצבעה באמצעות מערכת ההצבעה האלקטרונית תסתיים שש )6( שעות לפני מועד האסיפה )היינו ביום חמישי, 29 ביולי 2021 בשעה 08:00 בבוקר שעון ישראל(. בעלי המניות נדרשים להצביע או באמצעות שליחת כתב הצבעה )בשפה העברית או האנגלית אך לא לשלוח בשתי השפות( או באמצעות הצבעה אלקטרונית. ככל שבעל מניות יצביע באמצעות שתי הדרכים, לא תבוא הצבעת בעל המניות במניין.
עו"ד דן שרעבי או עו"ד תמי לוי, חברת פרטנר תקשורת בע"מ, רחוב העמל ,8 ראש העין, ,4810302 ישראל )נא לסמן בבירור "כתב הצבעה" או "הודעת עמדה" על המעטפה(.
המועד האחרון להמצאת הודעות עמדה של בעלי מניות לחברה לגבי הנושא שעל סדר היום הנו 19 ביולי .2021
המועד האחרון להמצאת תגובת הדירקטוריון להודעות עמדה )ככל שתהיינה( הנו 24 ביולי .2021
לאחר פרסום כתב ההצבעה, ייתכן שיחולו שינויים בסדר היום של האסיפה המיוחדת, לרבות בדרך של הוספת נושא לסדר היום, וזאת בעקבות בקשה של בעל מניות על פי סעיף 66)ב( לחוק החברות, שתוגש לחברה לא יאוחר מיום 24 ביוני 2021 )7 ימים לאחר מועד פרסום הזימון(. במקרה כזה, החברה תפרסם סדר יום מתוקן וכתב הצבעה מתוקן, לא יאוחר מיום 1 ביולי .2021 אין בפרסום סדר היום המעודכן כדי לשנות את המועד הקובע כפי שנקבע במסמך זימון האסיפה. בנוסף, ייתכן שתפורסמנה הודעות עמדה, כאמור לעיל.
כתובת אתר ההפצה של רשות ניירות ערך: il.gov.isa.magna.www://http
http://www.maya.tase.co.il :הבורסה של האינטרנט אתר כתובת
כתובת מערכת התיוק האלקטרוני EDGAR של הרשות לניירות ערך בארה"ב )תרגום נוחות לאנגלית http://www.sec.gov/edgar.shtml :)בלבד
בעל מניות שמניותיו רשומות אצל חבר הבורסה, זכאי לקבל את אישור הבעלות מחבר הבורסה בסניף של חבר הבורסה או במשלוח בדואר, אם ביקש זאת. בקשה לעניין זה תינתן מראש לחשבון ניירות ערך מסוים.
בעל מניות שמניותיו רשומות אצל חבר הבורסה זכאי לקבל בדואר אלקטרוני בלא תמורה קישורית לנוסח כתב ההצבעה והודעות העמדה באתר ההפצה, מאת חבר הבורסה שבאמצעותו הוא מחזיק במניותיו, אלא אם הודיע לחבר הבורסה כי אין הוא מעונין לקבל קישורית כאמור או שהוא מעונין לקבל כתבי הצבעה בדואר תמורת תשלום. הודעתו לעניין כתבי הצבעה תחול גם לעניין קבלת הודעות עמדה.
בעלי מניות רשאים להצביע ביחס לנושא שעל סדר היום כמפורט לעיל, באמצעות כתב הצבעה שיועבר במערכת ההצבעה האלקטרונית, כהגדרתה בתקנות ההצבעה.
חבר בורסה יזין למערכת ההצבעה האלקטרונית רשימה ובה הפרטים הנדרשים לפי סעיף 44יא4)א()3( לחוק ניירות ערך לגבי כל אחד מבעלי המניות הלא רשומים המחזיקים ניירות ערך באמצעותו במועד הקובע )"רשימת הזכאים להצביע במערכת"(. ואולם חבר בורסה לא יכלול ברשימת הזכאים להצביע במערכת בעל מניות שהעביר לו עד השעה 12:00 בצהריים של המועד הקובע הודעה כי אינו מעוניין להיכלל ברשימת הזכאים להצביע במערכת ההצבעה האלקטרונית לפי תקנה 13)ד( לתקנות ההצבעה.
חבר בורסה יעביר, סמוך ככל האפשר לאחר קבלת אישור מאת מערכת ההצבעה האלקטרונית על קבלה תקינה של רשימת הזכאים להצביע במערכת ואשר מקבלים מחבר הבורסה הודעות באמצעים אלקטרוניים או באמצעות מערכות התקשורת המקושרת למחשב חבר הבורסה, את הפרטים הנדרשים לשם הצבעה במערכת ההצבעה האלקטרונית.
בעל מניות המופיע ברשימת הזכאים להצביע במערכת ההצבעה האלקטרונית רשאי לציין את אופן הצבעתו ולהעביר אותה לחברה באמצעות מערכת ההצבעה האלקטרונית.
כתב ההצבעה האלקטרוני נפתח להצבעה בתום המועד הקובע. ההצבעה באמצעות מערכת ההצבעה האלקטרונית תסתיים שש )6( שעות לפני מועד האסיפה )יום חמישי, 29 ביולי 2021 בשעה 08:00 בבוקר שעון ישראל(, אז תיסגר מערכת ההצבעה האלקטרונית. בעל מניה המצביע באמצעות כתב הצבעה אלקטרוני אינו נדרש להמציא לחברה אישור בעלות באופן המפורט לעיל ביחס לבעל מניה המצביע בכתב הצבעה שאינו אלקטרוני.
בעל מניות אחד או יותר המחזיק מניות בשיעור המהווה חמישה אחוזים או יותר מסך כל זכויות ההצבעה בחברה, וכן מי שמחזיק בשיעור כאמור מתוך סך כל זכויות ההצבעה שאינן מוחזקות בידי בעל שליטה בחברה )כקבוע בסעיף 268 לחוק החברות(, זכאי לעיין בכתבי הצבעה כמפורט בתקנה 10 לתקנות כתבי הצבעה.
כמות המניות המהוות 5% מסך כל זכויות ההצבעה בחברה )ללא מניות אוצר( הנה 9,195,276 מניות רגילות, נכון ליום 13 ביוני .2021
כמות המניות המהוות 5% מסך כל זכויות ההצבעה בחברה )ללא מניות אוצר( שאינן מוחזקות בידי בעל שליטה )כקבוע בסעיף 268 לחוק החברות( הנה 6,702,136 מניות רגילות, נכון ליום 13 ביוני .2021
בעל מניות יציין את אופן הצבעתו לגבי נושא 1 שעל סדר היום הכפוף להליכי הצבעה בכתב, בחלקו השני של כתב ההצבעה.
תאריך: __________, 2021
)תקנה 5 )א((
שם החברה: חברת פרטנר תקשורת בע"מ )"החברה"(
מען החברה )למסירה ומשלוח כתבי הצבעה והודעות עמדה(: עו"ד דן שרעבי או עו"ד תמי לוי, חברת פרטנר תקשורת בע"מ, רחוב העמל ,8 ראש העין, 4810302 ישראל )נא לסמן בבירור "כתב הצבעה" או "הודעת עמדה" על המעטפה(
מס' החברה: 520044314
מועד האסיפה: יום חמישי, 29 ביולי ,2021 בשעה 14:00 שעון ישראל.
סוג האסיפה: מיוחדת
המועד הקובע: 28 ביוני .2021
הערה - במקביל לכתב הצבעה זה מופץ לבעלי המניות תרגום של כתב ההצבעה לשפה האנגלית )Vote of Deed). בעלי המניות מתבקשים לשלוח רק כתב הצבעה זה )בעברית( או את ה- of Deed Vote( באנגלית( ולא לשלוח במקביל את שניהם. אם יישלחו שניהם במקביל הרי שבמקרה של סתירה ביניהם )כפי שייקבע על-ידי מזכירת החברה(, לא תבוא הצבעת בעלי המניות במניין.
| המניות: פרטי בעל |
|---|
| המניות שם בעל __________ |
| ת מספר זהו __________ |
| ראלית- זהות יש ות תעודת בעל המני אם אין ל |
| __ _ כון _ מספר דר |
| __ _ א __ שבה הוצ המדינה |
| __ _ ד __ בתוקף ע |
| - וא תאגיד המניות ה אם בעל |
| __ _ גיד _ מספר תא |
| __ _ ___ התאגדות מדינת ה |
| סעיפים ר עסקה לפי לעניין אישו החברות ד 275 לחוק ,255 ו272- ע ה אינו רש לאישור )שהרוב הנד ל "ענין אם אתה בע רוב רגיל(, ה ליטה" טה, "בעל ש אישי" בהחל כירה" שא משרה ב בחברה, "נו 2 ? מוסדי" או "משקיע |
3 ה אופן ההצבע |
דר היום הנושא על ס |
|||||
|---|---|---|---|---|---|---|---|
| לא | 4 כן |
ד נמנע | בעד נג | ||||
| )1( אישור ל ו של מנכ" תו והעסקת תנאי כהונ אשרר את ות, לאשר ול אבי צבי, לרב החברה, מר אבי צבי, ות את מר החברה לשפ התחייבות פוי והפטור. ת מכתב השי ולספק לו א |
* * *
לבעלי מניות המחזיקים במניות באמצעות חבר בורסה )לפי סעיף 177)1( לחוק החברות( - כתב הצבעה זה תקף רק בצירוף אישור בעלות.
לבעלי מניות הרשומים במרשם בעלי המניות של החברה - כתב הצבעה זה תקף בצירוף צילום תעודת זהות/דרכון/תעודת התאגדות.
עליך לסמן אחת משתי האפשרויות להלן )אם לא יסומן X, או יסומן X בשתי האפשרויות, או יסומן X באפשרות השנייה )השלילית( ולא צוין מספר מניות, ההצבעה תיפסל( 5 :
2 אנא פרט את מהות ה"ענין האישי" בהחלטה, מדוע הנך מהווה "בעל שליטה" בחברה, האם אתה "נושא משרה בכירה" או "משקיע מוסדי" )לפי המקרה( במקום המיועד לכך לאחר הטבלה. פירוט ענין אישי באישור המינוי, שאינו כתוצאה מקשר עם בעל השליטה, אינו נדרש. "ענין אישי" מוגדר בסעיף 1 לחוק החברות, תשנ"ט1999- )"חוק החברות"( כעניין אישי של אדם בפעולה או בעסקה של חברה, לרבות ענין אישי של קרובו ושל תאגיד אחר שהוא או קרובו הם בעלי ענין בו, ולמעט ענין אישי הנובע מעצם החזקת מניות בחברה, לרבות ענין אישי של אדם המצביע על-פי ייפוי כוח שניתן לו מאת אדם אחר אף אם אין לאחר ענין אישי, וכן יראו הצבעה של מי שקיבל ייפוי כוח להצביע בשם מי שיש לו ענין אישי כהצבעה של בעל העניין אישי, והכל בין אם שיקול הדעת בהצבעה הוא בידי המצביע ובין אם לאו. חוק החברות מפנה להגדרה של "שליטה" על-פי סעיף 1 לחוק ניירות ערך, תשכ"ח1968- )"חוק ניירות ערך"( המגדיר "שליטה" כיכולת לכוון את פעילותו של תאגיד, למעט יכולת הנובעת רק ממילוי תפקיד של דירקטור או משרה אחרת בתאגיד, וחזקה על אדם שהוא שולט בתאגיד אם הוא מחזיק לפחות מחצית מ-)i )זכות ההצבעה באסיפה הכללית; או )ii )הזכות למנות דירקטורים או את המנהל הכללי של החברה. לעניין אישור ההחלטות בנושאים המפורטים, ייחשב בעל שליטה גם מי שמחזיק ב25% או יותר מזכויות ההצבעה באסיפה הכללית של החברה; לעניין החזקה, יראו שניים או יותר, המחזיקים בזכויות הצבעה בחברה ואשר לכל אחד מהם יש ענין אישי באישור אותה עסקה המובאת לאישור, כמחזיקים יחד. על-פי סעיף 37)ד( לחוק ניירות ערך, "נושא משרה בכירה" הנו, ככלל, מנהל כללי, מנהל עסקים ראשי, משנה למנהל כללי, סגן מנהל כללי, כל ממלא תפקיד כאמור בחברה אף אם תוארו שונה, דירקטור, או מנהל הכפוף במישרין למנהל הכללי; וכן יושב ראש דירקטוריון, דירקטור חליף, יחיד שמונה לפי סעיף 236 לחוק החברות מטעם תאגיד המכהן כדירקטור, חשב, מבקר פנימי, מורשה חתימה עצמאי, וכל ממלא תפקיד כאמור גם אם תואר משרתו שונה, וכן נושא משרה בכירה בתאגיד בשליטת התאגיד, אשר יש לו השפעה מהותית על התאגיד וכל יחיד המועסק בתאגיד בתפקיד אחר, המחזיק חמישה אחוזים או יותר מן הערך הנקוב של הון המניות המוצא או מכוח ההצבעה. "משקיע מוסדי" - כהגדרתו בתקנה 1 לתקנות הפיקוח על שירותים פיננסיים )קופות גמל( )השתתפות חברה מנהלת באסיפה כללית(, התשס"ט,2009- וכן מנהל קרן להשקעות משותפות בנאמנות כמשמעותו בחוק השקעות משותפות בנאמנות, התשנ"ד.1994-
3 אי-סימון בטור כלשהו ייחשב הימנעות מהצבעה באותו נושא. סימון ביותר מטור אחד יפסול את ההצבעה.
4 אי סימון בטור כלשהו או סימון בטור "כן" ללא מתן פירוט לגבי מהות הענין האישי או היות בעל המניות בעל שליטה בחברה )לפי המקרה(, או סימון בשני הטורים, יפסול את ההצבעה.
5 במקרה שבעל מניות הינו "בעל ענין", כפי שמוגדר ברשיון, המצביע באופן שונה לגבי כל חלק ממניותיו הרגילות, יש להגיש כתב הצבעה נפרד לגבי כל כמות של מניות רגילות לגביה הוא מתכוון להצביע באופן שונה.
כן. אני מאשר/ת את ההצהרה להלן.
אני הח"מ מצהיר)ה( בזאת כי החזקותיי בחברה והצבעתי אינן דורשות הסכמת שר התקשורת, בהתאם )i )לסעיפים 21 )העברת אמצעי שליטה( או 23 )איסור בעלות צולבת( לרישיון הכללי של החברה למתן שירותי רדיו טלפון נייד בשיטה התאית )רט"ן( משנת 1998 )כפי שתוקן, 6 ה"רשיון"(; או )ii )לרישיונות אחרים שהוענקו לפרטנר .
לא. אני איני מאשר/ת את ההצהרה לעיל. אני מחזיק/ה, יחד עם אחרים, ________ מניות רגילות של פרטנר ואחזקותיי דורשות את הסכמת שר התקשורת כאמור לעיל.
לנוחות בעלי המניות, תרגום סעיפים 21-24 לרישיון מצורף כנספח "B "למסמך הזימון.
_______________ _______________
תאריך חתימה
שם )נא להדפיס(: _______________
תפקיד: ______________________
במסגרת רשיונות שהוענקו, במישרין או בעקיפין לפרטנר, נדרש אישור של משרד התקשורת, או דווח אליו, להחזקה של 5% ומעלה 6 באמצעי שליטה של פרטנר.
Date: June 17, 2021
In accordance with the Companies Regulations (Deeds of Vote and Position Notices) (2005)
Name of the Company
Partner Communications Company Ltd. (the "Company").
Extraordinary General Meeting (the "EGM") will be held on Thursday, July 29, 2021 at 14:00 (Israel time), at the Company's offices, 8 Ha'amal Street, Rosh Ha'ayin, Israel or at any adjournment thereof. The telephone number for inquiries is +972-54-7814191.
Pursuant to the Israeli Companies Law (1999), as amended (the "Israeli Companies Law") and the Israeli Companies Regulations (Deeds of Vote and Position Notices) (2005), as amended (the "Deed of Vote Regulations"), shareholders who will not attend the meeting in person may vote with respect to item 1 on the agenda by a Hebrew form of deed of vote (ktav hatzba'a) and this item is subject to provisions set forth in the Israeli Companies Law and the Deed of Vote Regulations (the "Regulations Procedure").
Set forth below is a summary of the proposed resolutions that may be voted on by the Deed of Vote:
On May 12, 2021, in accordance with the recommendation of the Company's Nominating Committee, the Board of Directors of the Company announced the appointment of Mr. Avi Zvi, to the office of CEO of the Company, effective June 1, 2021 ("Office Commencement Date").
According to that stated, presented herewith for approval are the terms of office and employment of the CEO and the Company's engagement in an employment agreement with Mr. Avi Zvi ("Employment Agreement") for the position of the Company's CEO as of the Office Commencement Date.
This summary is qualified in its entirety by reference to the description in the Proxy Statement.
Pursuant to section 272 (C.1.)(1) of the Israeli Companies Law, a company's engagement with the company's general manager in relation to his terms of office and employment that conforms to the compensation policy, must be approved by the compensation committee, the board of directors and the general meeting of the shareholders by a special majority set forth in section 267A of the Israeli Companies Law.
In light of the recommendation of the nominating committee appointed by the Board of Directors to appoint a CEO, upon conclusion of the comprehensive and orderly process that it conducted, the Board of Directors determined that Mr. Avi Zvi is the most suitable candidate to serve as CEO and lead Partner in its continued business activity for the coming years.
The Compensation Committee of the Company discussed the terms of office and employment of the Company's CEO and the Company's engagement in the Employment Agreement at two separate meetings afterwhich the Company's Board of Directors discussed the matter at two additional meetings. The directors determined that Mr. Zvi's terms of office and employment are in accordance with the Company's Compensation Policy (the "Compensation Policy").
The Compensation Committee and the Board of Directors considered the provisions of the Compensation Policy, which include, inter alia, the requirement that compensation be linked to performance and that a correlation must be made between the interests of the Company's CEO and the interests of the Company and its shareholders, while examining criteria, relevant benchmarks and market trends.
Prior to the meetings that approved Mr. Zvi's terms of office and employment, data was presented to the Compensation Committee and to the Board of Directors of the Company with regard to: the CEO's package of terms of office and employment according to the Employment Agreement; with regard to the Compensation Policy and its implications in terms of the cost of employing him at the Company; with regard to the comparative analysis conducted by Prof. Moshe Zviran of the terms of office and employment of CEOs at companies comparable to the Company; with regard to the terms of office and employment of the former CEO, Mr. Isaac Benbenisti and data regarding the ratio between the proposed compensation and the Salary Costa of the rest of the Company's employees and, particularly, the ratio to the average Salary Cost and the median Salary Cost of such employees and the impact of the gaps between them on labor relations in the Company.
a "Salary Cost" – any payment made for the employment, including employer's provisions, payments in respect of retirement, vehicle and cost of use thereof and any other benefit or payment.
This summary is qualified in its entirety by reference to the description in the Proxy Statement.
The rationale of the Compensation Committee and the Board of Directors for approving the terms of office and employment of the Company's CEO are set forth in the Proxy Statement.
Considering the set of parameters and considerations, as well as the arguments specified in the Proxy Statement, and considering, inter alia, the size of the Company, and the scope, complexity and nature of its operations, considering the complexity of the office and the degree of responsibility being imposed on Mr. Avi Zvi, the Compensation Committee and the Board of Directors determined that the terms of employment of the CEO, Mr. Avi Zvi, are fair, reasonable and customary, under the circumstances. The Compensation Committee and Board of Directors have resolved and recommended to the shareholders at the EGM, and therefore to approve the terms of office and employment of the CEO, Mr. Avi Zvi;
In accordance with the Israeli Companies Law, if the shareholders oppose the approval of a specific compensation plan of an officer, the Compensation Committee and Board of Directors may approve said plan, in "special cases", notwithstanding shareholders' opposition, after having held another discussion of the terms of said compensation plan, and on the basis of detailed reasoning that considered the rationale behind the shareholders' opposition and determined that this resolution is in the best interest of the Company.
It is proposed that at the EGM the following resolutions be adopted:
For further details in respect of the items on the EGM agenda and the complete wording of the proposed resolutions, kindly see the Proxy Statement dated June 17, 2021 distributed with this Deed of Vote.
The Proxy Statement, distributed with this Deed of Vote, contains the full text of the proposed resolutions and will be available for review at the Company offices, 8 Ha'amal Street, Rosh Ha'ayin, Israel, Sunday-Thursday, from 9 a.m. to 5 p.m. (Israel time) following prior coordination at telephone number +972-54-7814191, until the time of the EGM, convened to approve the items on the agenda. In addition, the Proxy Statement is available on the websites: www.magna.isa.gov.il and www.maya.tase.co.il; and on the U.S. Securities and Exchange Commission's EDGAR System http://www.sec.gov/edgar.shtml. The Proxy Statement includes additional information on the content of this Deed of Vote and it is important that the shareholders will also review it.
The required majority for the approval of item 1 on the agenda, which is subject to the Regulations Procedure, is the vote of the holders of a majority of the Ordinary Shares participating in the EGM and voting on the matter; provided, that one of the following conditions is fulfilled: (i) the majority of votes in favor of the matter shall include at least a majority of the votes of shareholders not constituting Controlling Parties (as stated in the Israeli Companies Law, including section 268 of the Israeli Companies Law, "Controlling Party") in the Company, or those having a Personal Interest (as defined in the Israeli Companies Law, a "Personal Interest") in the approval of these items, participating in the vote; which votes shall not include abstaining votes; or (ii) the total number of objecting votes of the shareholders mentioned in clause (i) does not exceed 2% of the total voting rights in the Company.
In the second part of this Deed of Vote there is a designated space for marking and detailing whether the shareholder has a Personal Interest in the resolution, the shareholder is a Controlling Party in the Company, is a Senior Office Holder or is an Institutional Investor (as the case may be), as set in the Israeli Companies Law and Deed of Vote Regulations. If a shareholder does not so mark or detail, the shareholder's vote shall not be counted in respect of item 1 on the agenda.
Each shareholder is also required to indicate if any of the shareholder's holdings in Partner or vote requires the consent of the Minister of Communications pursuant to Partner's Licenses. If a shareholder does not so mark, the shareholder's vote shall not be counted.
A Deed of Vote submitted by shareholders who hold their shares through a member in the Tel-Aviv Stock Exchange (the "Exchange") will be valid only if accompanied by an ownership certificate. A Deed of Vote submitted by registered shareholders shall be valid only if accompanied by a copy of I.D., passport or incorporation certificate.
Following recent legislative changes, the Israeli Securities Authority has established an electronic voting system for shareholder meetings of publicly listed Israeli companies via its MAGNA system, following a registration process, no later than six hours before the time fixed for the EGM.
The Deed of Vote shall be submitted to the Company or mailed by registered mail, so it arrives to the Company's offices no later than 4 hours prior to the time of the EGM or voted electronically as set forth above.
Dan Sharabi, Adv. or Tami Levy, Adv. Partner Communications Company Ltd., 8 Ha'amal Street, Rosh Ha'ayin, 4810302 Israel (kindly mark clearly "deed of vote" or "position notice" on the envelope).
The deadline for submission of Position Notices by the shareholders in respect of item 1 on the agenda is: July 19, 2021.
The deadline for submission of the Board of Directors' response to Position Notices (if any) is: July 24, 2021.
After filing the Deed of Vote, changes to the EGM agenda may be made, including by adding an item to the agenda following a shareholder request (in accordance with Section 66(b) to the Israeli Companies Law) submitted to the Company no later than June 24, 2021 (seven (7) days following the date of filing the attached Proxy Statement). In such case, the Company will file an amended agenda and an amended Deed of Vote no later than July 1, 2021. The filing of an amended agenda will not require the change of the Record Date as set forth above and in the attached Proxy Statement. Additionally, Position Notices may be published, as stated above.
Israel Securities Authority website: www.magna.isa.gov.il Tel Aviv Stock Exchange website: www.maya.tase.co.il U.S. Securities and Exchange Commission's EDGAR System (only a convenience translation into English): http://www.sec.gov/edgar.shtml
A shareholder, whose shares are being held through a stock exchange member, is entitled to receive the ownership certificate in the branch of that stock exchange member or by the mail, if the shareholder requested. Such request shall be made in advance for a particular securities account.
A shareholder, whose shares are being held through an Exchange member, is entitled to receive from the stock exchange member who holds the share in the shareholder's behalf, by e-mail, with no charge, a link to the text of the Deed of Vote and to the Position Notices posted on the Israel Securities Authority website, unless the shareholder notified the Exchange member that he is not interested in receipt of such link or he is interested in receipt of Deeds of Vote by mail (for charge). Shareholder's notice in respect of Deeds of Vote shall apply to Position Notices as well.
One or more shareholders holding shares conferring in the aggregate at least five percent of the Company's voting rights and shareholders holding the same rate of the Company's voting rights not held by the Company's "Controlling Party" (as stated in Section 268 of the Israeli Companies Law), are entitled to review the Deeds of Votes as detailed in Regulation 10 of the Deeds of Vote Regulations.
As of June 13, 2021 the amount of shares equivalent to five percent of the Company's voting rights (excluding treasury shares) is: 9,195,276 Ordinary Shares.
As of June 13, 2021, the amount of shares equivalent to five percent of the Company's voting rights (excluding treasury shares) not held by the Company's Controlling Party (as stated in Section 268 of the Israeli Companies Law) is: 6,702,136 Ordinary Shares.
Shareholder shall mark the shareholder's vote regarding item 1 on the agenda which is subject to the Regulations Procedure, in the second part of this Deed of Vote.
Date: ________, 2021
In accordance with Regulation 5(a) of the Companies Regulations (Deeds of Vote and Position Notices) 2005
Name of the Company: Partner Communications Company Ltd. (the "Company")
The Company's address (for submitting and sending Deeds of Vote and Position Papers): Dan Sharabi, Adv. or Tami Levy, Adv., Partner Communications Company Ltd., 8 Ha'amal Street, Rosh Ha'ayin, 4810302 Israel (kindly mark clearly "deed of vote" or "position paper" on the envelope)
Company's registration number: 520044314
Time of the meeting: Thursday, July 29, 2021 at 14:00 Israel time.
Type of meeting: Extraordinary General Meeting
The Record Date: June 28, 2021.
Note - In parallel to distribution of this Deed of Vote, a Hebrew version of a Deed of Vote (ktav hatzba'a) per Israeli requirements will be distributed among the shareholders. The shareholders are requested to send only one version of a Deed of Vote (an English version or a Hebrew version, but not both). If both versions will be sent by shareholders, in case of contradiction between the two versions (as determined by the Company's secretary), the vote shall be disqualified.
| Shareholder's Details: |
|---|
| Name of shareholder: _________ |
| I.D. number: __________ |
| In case the shareholder does not hold an Israeli I.D.: |
| Passport number: ______ |
| The country issuing the passport: _____ |
| Valid until: ________ |
| In case the shareholder is an entity: |
| Entity registration number: _______ |
| Country of organization: _____ |
| Item No. |
Subject of the Resolution | Votea | In respect of a transaction's approval pursuant to sections 255 and 272 to 275 (the majority required for which is not an ordinary majority), of the Israeli Companies Law) - do you have a "Personal Interest" in the resolution, are you a "Controlling Party" in the Company, a "Senior Office Holder" or an "Institutional Investor"b? |
||||
|---|---|---|---|---|---|---|---|
| For | Against | Abstain | Yesc | No | |||
| 1) | to approve the terms of office and employment of the CEO of the Company, Mr. Avi Zvi including, without limitation, to approve and ratify the Company's undertaking to indemnify Mr. Avi Zvi and to provide him with the Indemnification and Release Letter. |
a If an X is not marked in either column, the vote shall be considered as an abstention on the relevant item. If an X is marked in more than one column, the vote shall be disqualified.
b Kindly provide details regarding the nature of your "Personal Interest" in the resolution, why do you constitute a "Controlling Party" in the Company, you are a "Senior Office Holder" or an "Institutional Investor" (as the case may be), at the designated space below the table (on page 5). "Personal Interest" is defined in Section 1 of the Israeli Companies Law (1999), as amended (the "Israeli Companies Law") as a person's personal interest in an act or a transaction of a company, including, without limitation, the personal interest of a person's relative and the personal interest of an entity in which the person or the person's relative is an interested party. Holding shares in the applicable company does not give rise to a "Personal Interest". "Personal Interest" includes, without limitation, a personal interest of a person voting by proxy which was given by another person, even if the other person does not have a personal interest, and a person voting on behalf of a person having a personal interest will be deemed as having a personal interest, whether the voting discretion is in the voter's hands or not. The Israeli Companies Law refers to the definition of "Control" in Section 1 of the Israeli Securities Law (1968), as amended, defining "Control" as the ability to direct the activity of a company, except for ability stemming only from being a director or holding another position in that company, and it is presumed that a person is controlling a company if said person "holds" (as defined therein) at least half of (i) the right to vote in the shareholders general meeting; or (ii) the right to appoint the directors or the general manager of that company. For approval of the resolutions regarding the detailed items, any shareholders holding 25% or more of the voting rights in a company will be deemed a "Controlling Party". Two or more persons holding voting rights in a company whereas each of them has a personal interest in approving a certain transaction would be deemed "holding together". According to section 37 (d) of the Securities Law, a "Senior Office Holder" is, generally, a general manager, chief executive officer, deputy managing director, deputy director general, all fulfilling such a role in the company even if his title is different, a director, or manager directly subordinated to the general manager; as well as chairman of the board, an alternate director, an individual appointed under section 236 of the Israeli Companies Law on behalf of the corporation who is a director, controller, an internal auditor, independent authorized signatory, and anyone fulfilling such a role, even if his job title is different, and a Senior Office Holder of a corporation controlled by the corporation, which has a significant impact on the corporation and any individual employed by a corporation in another position, holding five percent or more of the nominal value of the issued share capital or voting rights. "Institutional Investor" - shall have the meaning defined in section 1 of the Supervisory Regulations Control of Financial Services (Provident Funds) (Participation of a Managing Company at a General Meeting), 2009, and a managing company of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994.
c If an X is not marked in either column, if an X is marked in the "Yes" column and the shareholder does not provide details, or an X is marked in both columns (as the case may be), the vote shall be disqualified.
Regarding the resolution in item 1 why do I have a "Personal Interest" in the resolution, why do I constitute a "Controlling Party" in the Company, a "Senior Office Holder" or an "Institutional Investor"?
______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________
Deeds of Vote submitted by shareholders who hold their shares through an Exchange member (under section 177(1) of the Israeli Companies Law) will be valid only if accompanied by an ownership certificate.
* * *
Deeds of Vote submitted by shareholders registered in the Company's Shareholders Register will be valid only if accompanied by a copy of I.D., passport or organization certificate.
You must mark one of the following two boxes (if an X is not marked in either box, or if an X is marked in both boxes, or if an X is marked in the NO box but no number of shares is provided, the vote shall be disqualified)d :
Yes. I approve the declaration below.
I declare that my holdings and my vote DO NOT require the consent of the Israeli Minister of Communications pursuant to (i) Sections 21 (Transfer of Means of Control) or 23 (Prohibition of Cross-Ownership) of the Company's General License for the Provision of Mobile Radio Telephone Services using the Cellular Method in Israel dated April 7, 1998, as amended (the "License"); or (ii) any other license granted to Partner, directly or indirectlye .
No. I do not approve the declaration above. I hold, together with others, ________ Ordinary Shares of Partner and my holdings require the consent of the Israeli Minister of Communications as stated above.
For your convenience, a translation of sections 21-24 to the License is attached as Annex "B" to the Proxy Statement distributed with this Deed of Vote.
| Signature | |
|---|---|
| Name (Print): _____ | |
| Title: | ______ |
| Date: | ______ |
d In the event that the shareholder is an "Interested Party", as defined in the License, voting in a different manner with respect to each part of the shareholder's Ordinary Shares, a separate Deed of Vote should be filed for each quantity of Ordinary Shares in respect of which the shareholder intends to vote differently.
e Under certain licenses granted, directly or indirectly, to Partner, approval of, or notice to, the Minister of Communications of the State of Israel may be required for holding of 5% or more of Partner's means of control.
To: Partner Communications Company Ltd. (the "Company")
Attn: Dan Sharabi, Adv. or Tami Levy, Adv.
I, the undersigned1 , _________________________, (Identification No./Registration No. ________________), of ____________________________________________, being a registered holder of ______________________2 Ordinary Shares, par value NIS 0.01 per share (the "Ordinary Shares") of the Company, hereby authorize _________________, Identification No. _______________3 , to participate and vote in my stead and on my behalf at the Meeting and in any adjournment thereof, inter-alia, with respect to any adjournment of discussion or resolution of any of the issues detailed on the Meeting agenda, until I shall otherwise notify you.
I declare and detail in the designated space below, in connection with the resolution in item 1 whether I have a "Personal Interest" in the resolution, or whether I am a "Controlling Party" in the Company, a "Senior Office Holder" or an "Institutional Investor": 4
1 Name of shareholder.
2 A shareholder is entitled to give several Deeds of Authorization, each of which refers to a different quantity of Ordinary Shares of the Company held by the shareholder, so long as the shareholder shall not give Deeds of Authorization with respect to an aggregate number of Ordinary Shares exceeding the total number of shares held by him.
3 In the event that the proxy does not hold an Israeli Identification number, indicate a passport number, if any, and the name of the country in which the passport was issued.
4 Kindly provide details regarding the nature of your "Personal Interest" in the resolution, why do you constitute a "Controlling Party" in the Company, you are a "Senior Office Holder" or an "Institutional Investor" (as the case may be), at the designated space below the table (on page 5). "Personal Interest" is defined in Section 1 of the Israeli Companies Law (1999), as amended (the "Israeli Companies Law") as a person's personal interest in an act or a transaction of a company, including, without limitation, the personal interest of a person's relative and the personal interest of an entity in which the person or the person's relative is an interested party. Holding shares in the applicable company does not give rise to a "Personal Interest". "Personal Interest" includes, without limitation, a personal interest of a person voting by proxy which was given by another person, even if the other person does not have a personal interest, and a person voting on behalf of a person having a personal interest will be deemed as having a personal interest, whether the voting discretion is in the voter's hands or not. The Israeli Companies Law refers to the definition of "Control" in Section 1 of the Israeli Securities Law (1968), as amended, defining "Control" as the ability to direct the activity of a company, except for ability stemming only from being a director or holding another position in that company, and it is presumed that a person is controlling a company if said person "holds" (as defined therein) at least half of (i) the right to vote in the shareholders general meeting; or (ii) the right to appoint the directors or the general manager of that company. For approval of the resolutions regarding the detailed items, any shareholders holding 25% or more of the voting rights in a company will be deemed a "Controlling Party". Two or more persons holding voting rights in a company whereas each of them has a personal interest in approving a certain transaction would be deemed "holding together". According to section 37 (d) of the Securities Law, a "Senior Office Holder" is, generally, a general manager, chief executive officer, deputy managing director, deputy director general, all fulfilling such a role in the company even if his title is different, a director, or manager directly subordinated to the general manager; as well as chairman of the board, an alternate director, an individual appointed under section 236 of the Israeli Companies Law on behalf of the corporation who is a director, controller, an internal auditor, independent authorized signatory, and anyone fulfilling such a role, even if his job title is different, and a Senior Office Holder of a corporation controlled by the corporation, which has a significant impact on the corporation and any individual employed by a corporation in another position, holding five percent or more of the nominal value of the issued share capital or voting rights. "Institutional Investor" - shall have the meaning defined in section 1 of the Supervisory Regulations Control of Financial Services (Provident Funds) (Participation of a Managing Company at a General Meeting), 2009, and a managing company of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994.
| Item No. |
Subject of the Resolution | Vote5 | In respect of a transaction's approval pursuant to sections 255 and 272 to 275 (the majority required for which is not an ordinary majority), of the Israeli Companies Law) - do you have a "Personal Interest" in the resolution, are you a "Controlling Party" in the Company, a "Senior Office Holder" or an "Institutional Investor"6? |
|||
|---|---|---|---|---|---|---|
| For | Against | Abstain | Yes7 | No | ||
| 1) | to approve the terms of office and employment of the CEO of the Company, Mr. Avi Zvi including, without limitation, to approve and ratify the Company's undertaking to indemnify Mr. Avi Zvi and to provide him with the Indemnification and Release Letter. |
5 If an X is not marked in either column, the vote shall be considered as an abstention on the relevant item. If an X is marked in more than one column, the vote shall be disqualified.
6 Kindly provide details regarding the nature of your "Personal Interest" in the resolution, why do you constitute a "Controlling Party" in the Company, you are a "Senior Office Holder" or an "Institutional Investor" (as the case may be), at the designated space below the table (on page 5). "Personal Interest" is defined in Section 1 of the Israeli Companies Law (1999), as amended (the "Israeli Companies Law") as a person's personal interest in an act or a transaction of a company, including, without limitation, the personal interest of a person's relative and the personal interest of an entity in which the person or the person's relative is an interested party. Holding shares in the applicable company does not give rise to a "Personal Interest". "Personal Interest" includes, without limitation, a personal interest of a person voting by proxy which was given by another person, even if the other person does not have a personal interest, and a person voting on behalf of a person having a personal interest will be deemed as having a personal interest, whether the voting discretion is in the voter's hands or not. The Israeli Companies Law refers to the definition of "Control" in Section 1 of the Israeli Securities Law (1968), as amended, defining "Control" as the ability to direct the activity of a company, except for ability stemming only from being a director or holding another position in that company, and it is presumed that a person is controlling a company if said person "holds" (as defined therein) at least half of (i) the right to vote in the shareholders general meeting; or (ii) the right to appoint the directors or the general manager of that company. For approval of the resolutions regarding the detailed items, any shareholders holding 25% or more of the voting rights in a company will be deemed a "Controlling Party". Two or more persons holding voting rights in a company whereas each of them has a personal interest in approving a certain transaction would be deemed "holding together". According to section 37 (d) of the Securities Law, a "Senior Office Holder" is, generally, a general manager, chief executive officer, deputy managing director, deputy director general, all fulfilling such a role in the company even if his title is different, a director, or manager directly subordinated to the general manager; as well as chairman of the board, an alternate director, an individual appointed under section 236 of the Israeli Companies Law on behalf of the corporation who is a director, controller, an internal auditor, independent authorized signatory, and anyone fulfilling such a role, even if his job title is different, and a Senior Office Holder of a corporation controlled by the corporation, which has a significant impact on the corporation and any individual employed by a corporation in another position, holding five percent or more of the nominal value of the issued share capital or voting rights. "Institutional Investor" - shall have the meaning defined in section 1 of the Supervisory Regulations Control of Financial Services (Provident Funds) (Participation of a Managing Company at a General Meeting), 2009, and a managing company of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994.
7 If an X is not marked in either column, if an X is marked in the "Yes" column and the shareholder does not provide details, or an X is marked in both columns (as the case may be), the vote shall be disqualified.
In connection with the resolution in item 1 why do I have a "Personal Interest" in the resolution, or why do I constitute a "Controlling Party" in the Company, a "Senior Office Holder" or an "Institutional Investor"?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
You must mark one of the following two boxes (if an X is not marked in either box, or if an X is marked in both boxes, or if an X is marked in the NO box but no number of shares is provided, the vote shall be disqualified)8:
Yes. I approve the declaration below.
I declare that my holdings and my vote DO NOT require the consent of the Israeli Minister of Communications pursuant to (i) Sections 21 (Transfer of Means of Control) or 23 (Prohibition of Cross-Ownership) of the Company's General License for the Provision of Mobile Radio Telephone Services using the Cellular Method in Israel dated April 7, 1998, as amended (the "License") 9 ; or (ii) any other license granted, directly or indirectly, to Partner10 .
No. I do not approve the declaration above. I hold, together with others, ________ Ordinary Shares of Partner and my holdings REQUIRE the consent of the Israeli Minister of Communications as stated above.
Date: _____________ __________________________
Signature
Name (print):_______________ Title: _____________________
8 In the event that the shareholder is an "Interested Party," as defined in the License, voting in a different manner with respect to each part of the shareholder's Ordinary Shares, a separate Deed of Authorization should be filed for each quantity of Ordinary Shares in respect of which the shareholder intends to vote differently.
9 A translation of sections 21-24 of the License is attached as Annex "B" to the Proxy Statement distributed with this Deed of Authorization.
10 Under certain licenses granted, directly or indirectly, to Partner, approval of, or notice to, the Minister of Communications of the State of Israel may be required for holding of 5% or more of Partner's means of control.
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