SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16
or 15d-16 of
the Securities Exchange Act of 1934
For the month of April 2005
Cable Systems Media Ltd.
(Translation of registrants name into English)
42 Pinkas Street
North Industrial Park
P.O. Box 13600
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
20 April 2005
|Matav- Cable Systems Media Ltd.
BY: /S/ Amit Levin
Chief Executive Officer
Print the name and title of the signing officer under his signature
FOR IMMEDIATE RELEASE
MATAV PARTICIPATES IN CLOSING OF SHARE BUYBACK OF PARTNER
NETANYA, Israel, April 20, 2005. Matav-Cable Systems Media Ltd. (Nasdaq & TASE: MATV) (hereinafter: Matav) announced today it has exercised its option to participate in the share buyback of Partner Communications Company Ltd. (NASDAQ and TASE: PTNR; LSE: PCCD) (Partner), together with Elbit Ltd., Eurocom Communications Limited and Polar Communications Limited. At the closing of the transaction, which occurred today, Matav sold to Partner 7,783,444 ordinary shares of Partner for total consideration of approximately NIS 250 million. Matav expects to recognize on this sale a capital gain (net of tax impact) of approximately NIS 115 million. Matav now holds 1,884,926 ordinary shares of Partner, almost all of which are subject to transfer restrictions under Partners communications license.
Matav is one of Israels three cable television providers, serving roughly 25 percent of the population. Matavs current investments include 1.2 percent of Partner Communications Ltd., a GSM mobile phone company and 10 percent of Barak I.T.C. (1995) Ltd., one of the three international telephony providers in Israel.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements that are based on various assumptions (some of which are beyond Matavs control) may be identified by the use of forward-looking terminology, such as may, can be, will, expects, anticipates, intends, believes, projects, potential, are optimistic, view and similar words and phrases. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including but not limited to (1) changes in technology and market requirements, (2) decline in demand for the companys products, (3) inability to timely develop and introduce new technologies, products and applications, (4) loss of market share and pressure on pricing resulting from competition, (5) uncertainty as to the completion of acquisition of new businesses or operations and integration thereof with Matavs business, and (6) the other risk factors detailed in Matavs most recent annual report and other filings with the US Securities and Exchange Commission. Matav undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Ori Gur Arieh, Counsel
Matav-Cable Systems Media Ltd.
Integrated Investor Relations