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Internet Gold Announces Update Regarding Motion to Certify a Claim as a Derivative Claim with respect of B Communications Ltd. and the Company

Ramat Gan, Israel, Nov. 04, 2019 (GLOBE NEWSWIRE) -- Internet Gold - Golden Lines Ltd. (the “Company” or “Internet Gold”) (NASDAQ Global Select Market and TASE: IGLD).

As detailed in the Company’s public announcement dated July 19, 2016 and in the updated description included in Item 8 (Legal Proceedings) in the Company’s 2018 Periodic Report (20F report), on July 2016, a motion to certify a claim as a derivative claim was filed with the Tel Aviv-Jaffa District Court (the “Court”) in which B Communications Ltd. ("BCOM"), the Company and members of BCOM’s Board of Directors were named as respondents, alleging that BCOM has unlawfully distributed dividend on June 2016. Within this context, the Company reported on July 19, 2019 that the Court has approved the filing of the claim as a derivative claim with respect to the Company and dismissed the claim against the members of BCOM's Board of Directors.

The Company hereby announces that the Company and BCOM filed, separately, a motion to re-review regarding the Court's decision to approve the filing of the claim as a derivative claim.

In addition, the Company was informed that the plaintiff filed statement of appeal to the Supreme Court against the dismissal of the claim in respect to BCOM's directors.

About Internet Gold

Internet Gold is a telecommunications-oriented holding company whose principal asset is a 51.95% stake in B Communications Ltd., the owner of 26.34% of outstanding shares of Bezeq The Israel Telecommunication Corporation Limited, the leading communications group in Israel. On June 2019, Internet Gold entered into a transaction for the sale of its entire holdings in B Communications Ltd. For more information, please visit the following Internet sites:

www.igld.com
www.bcommunications.co.il
www.ir.bezeq.co.il

Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties.  Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the industry, changes in the regulatory and legal compliance environments, the failure to manage growth and other risks detailed from time to time in Internet-Gold’s filings with the Securities Exchange Commission. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements.  Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.

For further information, please contact:

Doron Turgeman- CEO
doron@igld.com / Tel: +972-3-924-0000