Offer by Satcom Systems Ltd

RNS Number:7466T
Gilat Satcom Limited
06 May 2008



WORDING FOR GILAT SATCOM ANNOUNCEMENT

NOTICE OF TENDER OFFER BY SATCOM SYSTEMS LTD.

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 Satcom has today made an offer
(the "Offer") to acquire all of the issued shares of Gilat (other than those 
which are already held by Satcom) (the "Offeree Shares") at an offer price 
of 90p per Offeree Share.  As at the date of this announcement Satcom holds
89.79 percent of the issued shares of Gilat.

The Offer is open for acceptance until 3.00 pm (London time) on 2 June 2008 
(the "Acceptance Date") and is conditional, inter alia, on the shareholdings 
of the Gilat shareholders that do not tender their shares in accordance with 
the terms of the Offer being less than five percent (5%) of the entire
issued share capital of Gilat.  Under the Israeli Companies Law (5799-1999), 
if there is a tender offer for all of the issued shares of an Israeli public
company and the shareholders of such company that elect not to tender their 
shares in the tender offer own less than five percent (5%) of the issued share 
capital of such company, those non-tendering shareholders shall be obliged to
transfer their shares in the company to the offeror.  Accordingly, assuming 
the Offer becomes or is declared unconditional in all respects, Satcom
will acquire all of the Offeree Shares either directly through the Offer
or through the Offer and pursuant to a compulsory transfer of shares
under the Israeli Companies Law.


An announcement containing a full copy of the Offer letter sent to
Gilat shareholders will be made later today.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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