Welcome to our dedicated page for CEL news (Ticker: CEL), a resource for investors and traders seeking the latest updates and insights on CEL stock.
Cellcom Israel Ltd. (CEL) is an Israeli communications group and cellular provider whose public disclosures frequently focus on corporate governance and shareholder matters. News about the company often centers on announcements of annual, special, and extraordinary general meetings of shareholders convened in Netanya, Israel, reflecting decisions that affect its communications business and capital structure.
In these announcements, Cellcom Israel outlines agendas that can include discussion of audited annual financial statements and the board of directors’ report, appointment or reappointment of independent auditors, and election or reappointment of directors and external directors. Other items reported in the news include approvals of compensation policies for officers, updates to the terms of office and employment of the company’s chief executive officer, one-time special grants for the CEO, and approvals of indemnity and exemption letters for office holders.
Investors and observers following CEL news can also find updates related to changes in the company’s Articles of Association and procedural details for shareholder participation. The company’s releases describe record dates for voting, the use of voting cards, electronic voting options for unregistered shareholders, and instructions for shareholders whose holdings are recorded through the TASE clearinghouse or through members of the Depositary Trust Company and the company’s U.S. transfer agent.
This news page aggregates such company-issued announcements so readers can review the history of Cellcom Israel’s shareholder meetings, governance decisions, and related procedures. For those tracking developments in the Israeli wireless telecommunications sector, these items provide context on how the company manages its governance, compensation policies, and formal decision-making processes over time.
Cellcom Israel Ltd. (TASE: CEL) announced its intention to terminate the registration of its Ordinary Shares and reporting obligations with the SEC under the Securities Exchange Act of 1934. The filing under Form 15F will occur on February 9, 2022, suspending reporting requirements immediately, with the termination expected to be effective within 90 days barring SEC objections. Despite this change, the Company will continue to provide reports on its website in English, adhering to Rule 12g3-2(b).
Cellcom Israel Ltd. (TASE: CEL) announced an Extraordinary General Meeting of Shareholders scheduled for February 28, 2022, at 16:00 p.m. in Netanya, Israel. The record date for eligibility is January 31, 2022. The primary agenda item is the approval of remuneration terms for the new CEO, Mr. Daniel Sapir. A quorum of at least one-third of the voting shareholders is required for the meeting. Voting will require a simple majority, with specific conditions outlined for controlling shareholders. The company will not mail proxy statements due to the voluntary delisting from the NYSE.
Cellcom Israel Ltd. (NYSE: CEL) announced its Annual General Meeting of Shareholders will take place on December 30, 2021, at 17:00 p.m. Israel time. The record date for eligibility is December 2, 2021. Key agenda items include consideration of audited financial statements for the year ended December 31, 2020, appointment of independent auditors, reappointment of several directors, and changes to the Articles of Association and Compensation Policy. Voting will require a simple majority for most items, with specific conditions for some. The company will cease mailing proxy statements following its voluntary delisting from NYSE.
Cellcom Israel Ltd. (NYSE: CEL) has received approval from the Israeli Minister of Communications for an investment transaction involving IBC Israel Broadband. This regulatory approval allows the completion of the transaction, which includes amendments to IBC's license obligating it to extend services to 1.7 million households within five years. The completion is expected shortly, solidifying Cellcom’s infrastructure capabilities. Further details on the transaction can be found in previous reports, including the 20-F and 6-K filings.
Cellcom Israel Ltd. (NYSE: CEL) has filed a lawsuit against its cellular sharing network partner, Xfone, for breach of payment obligations amounting to approximately NIS 34 million. The lawsuit, presented to the Tel-Aviv District Court, seeks enforcement of their network sharing agreement and includes a request for an interim injunction to prevent Xfone from signing conflicting agreements. The company cannot currently predict the lawsuit's outcome, which could significantly affect its revenue, as detailed in its 2019 annual report.
Cellcom Israel Ltd. (NYSE: CEL) announced receipt of an unlawful annulment notice from its cellular sharing partner, Xfone, related to alleged breaches of their agreement. Xfone claims Cellcom breached the contract by acquiring Golan Telecom, while Cellcom strongly denies these allegations and plans to enforce the agreement. The implications of this situation on Cellcom's financial results are currently unassessable. The sharing agreement is noted as a significant revenue factor in the company's previous reports.
Cellcom Israel Ltd. (NYSE: CEL) announced that the Israeli Competition Commissioner has approved its investment transaction with the Israel Infrastructure Fund and Hot Telecommunication Systems in IBC Israel Broadband. Completion is contingent on additional approvals from the Israeli Ministry of Communications and potential regulatory changes, which are not guaranteed. This forward-looking statement emphasizes the uncertainties surrounding the transaction.
Cellcom Israel Ltd. (NYSE: CEL) has announced its plan to consolidate its share listing to the Tel Aviv Stock Exchange (TASE) and voluntarily delist from the New York Stock Exchange (NYSE). The decision is motivated by the reduction of costs and the optimization of operations, as the majority of its trading occurs on TASE. The last trading day on NYSE is expected to be no earlier than February 8, 2021, with the consolidation to take effect thereafter. The company remains committed to transparency and will continue to meet SEC reporting obligations until deregistration is achieved.
Cellcom Israel Ltd. (NYSE: CEL) announced that its cellular sharing network partner, Marathon 018 Xfone Ltd., has failed to make payments due on October 31 and November 30, 2020. As a result, the company is exercising its rights under the agreement. However, Cellcom cannot currently assess the implications of this non-payment on its financial results. The network sharing agreements represent a significant portion of the company's revenue, as highlighted in its 2019 annual report.
Cellcom Israel Ltd. (NYSE: CEL) appointed Mr. Yoram Turbowicz to its Board of Directors, effective December 2, 2020. Turbowicz has extensive experience in corporate governance, holding positions at Discount Investment Corporation and several private companies. Previously, he was chairman of Azorim Ltd. and Delek Energy Systems Ltd., and served as Chief of Staff to the Israeli Prime Minister. This appointment is expected to bring fresh perspectives to the company.