GLT Gilat

    RNS Number : 7932V
  Gilat Satcom Limited
  02 June 2008
   

    GILAT SATCOM LTD


    NOTICE OF TENDER OFFER BY SATCOM SYSTEMS LTD. BECOMING UNCONDITIONAL

    Gilat Satcom Ltd. ("Gilat"), the international broadband services company quoted on AIM (GLT), announced today that it has received
notice from its parent company, Satcom Systems Ltd. ("Satcom") that as at 3.00 pm (London time) today, 2 June 2008, Satcom had received
acceptances to its offer to acquire all of the issued shares of Gilat (other than those which are already held by Satcom) (the "Offer") in
respect of 1,156,254 ordinary shares of Gilat or 6.54 per cent. of the entire issued share capital of Gilat.  Accordingly, the shareholdings
of the Gilat shareholders that did not tender their shares in accordance with the terms of the Offer ("Non-Accepting Shareholders") hold
3.68 per cent of the entire issued share capital of Gilat which are less than five percent (5%) of the entire issued share capital of Gilat
and Satcom has declared the Offer unconditional in all respects. Satcom will now acquire, at the Offer price, all of the Gilat shares held
by the Non-Accepting Shareholders. For further information please refer to the letter from Satcom dated May 6, 2008 which was announced to shareholders on that date.

    Satcom will apply to the AIM market to cancel admission of Gilat shares to trading on the AIM market. Cancellation is expected to take
effect from the 2nd of July 2008.
This information is provided by RNS
The company news service from the London Stock Exchange
 
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