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Re: stock1ace1 post# 122

Friday, 11/29/2019 6:59:48 PM

Friday, November 29, 2019 6:59:48 PM

Post# of 133
Ramat Gan, Israel, Nov. 29, 2019 (GLOBE NEWSWIRE) -- Internet Gold - Golden Lines Ltd. (the “Company” or “Internet Gold”) (NASDAQ Global Select Market and TASE: IGLD).

Due to extraordinary trade in the Company’s shares, the Company wishes to reiterate the information announced in the Company's public announcement that following the closing of the Searchlight Transaction, which is scheduled to occur on December 02, 2019,

the Company will not be able to fully pay its debts and it intends to initiate a creditors’ arrangement which will be submitted to the applicable Israeli court pursuant to Section 350 of the Israeli Companies Law.

The Company anticipates that pursuant to such arrangement, the existing shares of the Company will be nullified and that at the same time, the creditors of the Company and the party or parties to the new Transaction to be voted by the debenture holders (if completed) will receive, among other consideration, 100% of the outstanding shares of the Company.

As also disclosed, the offer that will be voted on will be included in the Company’s creditors’ arrangement and will be subject to the approval of the applicable Israeli court

About Internet Gold

Internet Gold is a telecommunications-oriented holding company whose principal asset is a 51.95% stake in B Communications Ltd., the owner of 26.34% of outstanding shares of Bezeq The Israel Telecommunication Corporation Limited, the leading communications group in Israel. On June 2019, Internet Gold entered into a transaction for the sale of its entire holdings in B Communications Ltd. For more information, please visit the following Internet sites:

www.igld.com
www.bcommunications.co.il
www.ir.bezeq.co.il

https://marketwirenews.com/news-releases/offers-to-purchase-internet-gold-s-shares-6713628898661090.html


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