Partner Communications Company Ltd. (PTNR) announces that following the application submitted on December 31, 2009 to approve a dividend distribution of NIS 1.4 billion exceeding the surpluses for distribution, and following various applications and objections submitted to the Court, a notice relating to the removal of the objections and the various applications and regarding an agreed settlement was submitted on February 7, 2010 to the Court.
Also, the company said the opponents withdraw their objections to the Distribution Application and to its approval by the Court, provided that in the event of a reduction in the current credit rating of the Series "A" notes by the credit rating company " S&P Maalot ", there will be an increase to the annual linked interest rate that the Series "A" notes will bear in the year 2010, in the amount of 1% for each reduction of one rating category, effective from the date of publication of the credit downgrading, and as long as the credit downgrading is valid.
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