state of israel ministry of finance stages and timetable ... and... · shareholder & israel...

State of IsraelMinistry of Finance

Stages and Timetable of the Election Process forStages and Timetable of the Election Process for

the electionthe election of a Controlling Shareholder, Investor of a Controlling Shareholder, Investor

& Co& Co--Founder of the Telecommunication Company Founder of the Telecommunication Company

to be jointly established by the Elected Controlling to be jointly established by the Elected Controlling

Shareholder & Israel Electric Corporation Ltd.Shareholder & Israel Electric Corporation Ltd.

This information is for your convenience and for the purpose of illustration only, and does not constitute part of the

Election Procedure or other Election Documents, and will not be used for purposes of interpretation

Updated: Jan Updated: Jan 22, 2012, 2012

The Election Process will be conducted in The Election Process will be conducted in three principal stages three principal stages

The Preliminary

Project Business

Model stage

The Basic Proposal

stage

The Financial Competition

Stage

Stages of Stages of the the

Election Election ProcessProcess

Preliminary Project Business Model stagePreliminary Project Business Model stage

•The Preliminary Project Business Model shall be prepared and submitted to the Election Committee subject to and in accordance with the provisions of the Procedure.

•For the avoidance of doubt, it is clarified that no screening shall be conducted by the Election Committee at this stage and that the materials and information submitted within the framework of this stage are and shall be submitted on a non-binding basis.

StagesStages of the Election Processof the Election Process

Stages Stages of the of the


The Preliminary Project

Business Model stage

The Basic Proposal stage


Stage

Basic Proposal stageBasic Proposal stage

•The Basic Proposal shall be prepared and submitted to the Election Committee and the Election Committee shall conduct the Basic Proposal Examination and the Basic Proposal Stage Screening;

•An Applicant whose Basic Proposal shall be found by the ElectionCommittee to have successfully passed the Basic Proposal Stage Screening, and who itself, or whose Basic Proposal, has not otherwise been disqualified, shall be invited to participate in the Financial Competition Stage;

StagesStages of the Election Process of the Election Process

StagesStagesof the of the






Stage

FinancialFinancial CompetitionCompetition stagestage

•At the Financial Competition Stage, the Bidding Process shall be conducted and the participating Eligible Applicants shall compete for the opportunity to be the elected as the ControllingShareholder, by submitting their Bids.

Stages of the Election Process Stages of the Election Process

StagesStagesof the of the






Stage

Timetable of the Election ProcessTimetable of the Election Process

Announcement Registration Registrants Conference

Submission of Annex “B”

Final date for questions

submission

Final date for response the

questions

Submission of Annex “C”

(“Basic Proposal”)

Examination of the “Basic Proposal”

Financial Competition

Announcement of the Winning

BidderClosing Completion of the

Election Process

OCT

92011

OCT

232011

NOV

282011

JAN

312012

JAN

312012

FEB

132012

MAR

122012

MARAPR2012 APR

2012

APRMAY

2012

APRMAY2012 MAY

2012

AnnouncementAnnouncement•The date of release of the announcement of the launch of the Election Process and publication of the invitation to register for participation in the Election Process and availability for download from the Procedure Web Page of the Announcement, the Outline of the Election Process and the Election Procedure and the Registration Form, including the Non-Disclosure and Restrictive Use Undertaking.


OCT

992011

Timeline of the Election ProcessTimeline of the Election Process

RegistrationRegistration

•The date from which onwards, until The final date and time for submission of the Preliminary Project Business Model Form (Annex "B"), registration for participation in the Election Process shall commence and be available.

•The full set of the Procedure Documents shall be available to access by Registrants on the Procedure Web Page.


OCT

23232011


Registrants ConferenceRegistrants Conference

•A Registrants conference shall be held at IEC's Offices.


NOV

28282011


Submission of Annex Submission of Annex ““BB””

•The final date and time for submission of the fully filledPreliminary Project Business Model Form (Annex "B“).


JAN

31312012


Submission of questions, Submission of questions, requests for clarificationsrequests for clarifications

•The final date and time for submission of questions, requests for clarifications and comments pertaining to the Election Process and/or the Procedure Documents.


JAN

31312012


Submission of response to Submission of response to questions, requests for questions, requests for

clarifications and commentsclarifications and comments•The Election Committee shall, if at all, respond to questions, requests for clarifications and comments pertaining to the Procedure Documents, that were submitted to it.


FEB

13132012


Submission of the Basic Submission of the Basic Proposal Form Proposal Form

•The final date and time for submission of the fully filled Basic Proposal Form (Annex "C").


MAR

12122012


Basic Proposal ExaminationBasic Proposal Examination

The Conducting by the Election Committee of the Basic Proposal Examination, including the Applicants appearance and presentation before the Election Committee, and the Basic Proposal Screening.


MARAPR2012


Financial Competition StageFinancial Competition Stage

•Announcement of the Eligible Applicants who shall be invited to participate in the Financial Competition Stage and the Conducting of the Financial Competition Stage.


APR2012


ClosingClosing

•The announcement of the Winning Bidder;•The Closing of the contemplated transaction forming the subject matter of the Procedure.


APRMAY2012
