Friday 19.08.2005

Halliwells Advise On £21.2m Flotation Of Israeli Satellite Company

Corporate law firm Halliwells has advised on the AIM flotation of Gilat Satcom, the Israeli broadband satellite service provider.

Gilat has raised £4.6 million with an implied market capitalisation of £21.2 million. The company, which has been operating for 12 years operates in 40 countries. Gilat specialises in developing countries where due to the lack of a telecommunications infrastructure, satellite links may be the only communications option. However, there are plans to enter new markets in Latin America, south-east Asia, Europe and the US.

The Halliwells team was led by London corporate partner Adam Fenner and assisted by Simon Marks and Kirsty McShannon. Commenting on the flotation, Mr. Fenner said: "We were delighted to act for Gilat Satcom and look forward to working with them in the future. This illustrates the vibrancy of Israeli businesses and in particular the growth in the telecommunications and media sectors. We will continue to develop our expertise in the Israeli market and look forward to bringing more companies to the AIM Market in the UK."

Erez Gissin, Gilat vice Chairman, said: "Gilat Satcom is well-positioned to grow rapidly and profitably as a major provider of satellite broadband services in the developing world. We now have the funds to implement our strategy for achieving this objective."

Halliwells specialises in the flotation of foreign companies on the UK AIM market with a dedicated Israel AIM Team. The firm recently advised on the IPO of Israeli-based Dori Media Group Ltd. and is currently acting on three further Israeli IPOs. This September Halliwells is a sponsor of Tel-Aviv's 9th annual Journey Conference for Venture Capitalists and Entrepreneurs of Emerging Growth Companies held by Ernst & Young Israel.

For further information, please contact;

Adam Fenner
Corporate Partner
Halliwells
Tel: 0870 365 8000
Email: adam.fenner@halliwells.com

Matthew Jervois or Rob Wood
Spada
Tel: 0207 269 1430
Email: matthew jervois@spada.co.uk / robwood@spada.co.uk

About Halliwells

Halliwells is one of the UK's leading multi-disciplinary law firms with over 1000 people and offices in Manchester, Liverpool, London and Sheffield


The corporate team advises a broad range of corporate and institutional clients, specialising in AIM flotations, IPOs, M&As, private equity & acquisition finance, public offers & takeovers, and joint ventures.

The corporate team has been named �AIM Lawyer of the Year� at the 2005 Growth Company Awards and was ranked 5th in Hemscott�s AIM legal adviser listing.