Partner Communications company Ltd. (NASDAQ and TASE: PTNR), an Israeli mobile communications operator, reported that the company´s board of directors resolved on May 30, 2018 to adopt a buy-back plan of up to an aggregate amount of NIS 200 million of its ordinary shares which are traded on the Tel Aviv Stock Exchange, the company said .
The period of the Plan will be from June 4, 2018 until May 30, 2019. The company is authorized to repurchase in open market transactions on the TASE, in privately negotiated transactions or a combination of the two on every trading day of the TASE. Any repurchases effected pursuant to the Plan will be subject to the Plan´s price and daily volume restrictions. The Plan will not involve any repurchase of the company´s American Depository Shares.
The Plan will be implemented in multiple tranches, the first of which will involve the repurchase of up to an aggregate amount of NIS 50 million of the company´s ordinary shares. The implementation of subsequent tranches will be subject to approval of the company´s board of directors.
Partner provides telecommunications services (cellular, fixed-line telephony, Internet services and television services). For more information, see: http://www.partner.co.il/en/Investors-Relations/lobby