Jun 7, 2020   SOURCE: PR NewsWire

Cellcom Israel Ltd. Announces Options And RSUs Grant To Employees

NETANYA, Israel, June 7, 2020 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today that the Company's board of directors resolved to grant employees of the Company with approximately 2.416 million options at an exercise price of NIS 12.35 and approximately 631 thousand restricted share units, or RSUs, under the Company's 2015 Share Incentive Plan, in accordance with the provisions of the previously announced February 2020 collective employment agreement.

For additional details see the Company's most recent annual report for the year ended December 31, 2019 on Form 20-F, filed on March 23, 2020, under Item 6. Directors, senior management and employees - D. Employees" and E. Share Ownership - Share Incentive Plan".

About Cellcom Israel

Cellcom Israel Ltd., established in 1994, is a leading Israeli communications group, providing a wide range of communications services. Cellcom Israel is the largest Israeli cellular provider, providing its approximately 2.747 million cellular subscribers (as at March 31, 2020) with a broad range of services including cellular telephony, roaming services for tourists in Israel and for its subscribers abroad, text and multimedia messaging, advanced cellular content and data services and other value-added services in the areas of music, video, mobile office etc., based on Cellcom Israel's technologically advanced infrastructure. The Company operates an LTE 4 generation network and an HSPA 3.5 Generation network enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE networks. Cellcom Israel offers Israel's broadest and largest customer service infrastructure including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Cellcom Israel further provides OTT TV services, internet infrastructure and connectivity services and international calling services, as well as landline telephone services in Israel. Cellcom Israel's shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For additional information please visit the Company's website http://investors.cellcom.co.il.

                                Company Contact                                   Investor Relations Contact
                            Shlomi Fruhling             
       
            
            Ehud Helft

       Chief Financial Officer                           GK Investor & Public Relations  In partnership with
                                                           LHA
                                investors@cellcom.co.il 
     
              cellcom@GKIR.com
                            Tel: +972 52 998 9735       
     Tel: +1 617 418 3096

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SOURCE Cellcom Israel Ltd.