PARTNER COMMUNICATIONS CO LTD | CIK:0001096691 | 3

  • Filed: 3/29/2018
  • Entity registrant name: PARTNER COMMUNICATIONS CO LTD (CIK: 0001096691)
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  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1096691/000117891318001012/0001178913-18-001012-index.htm
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  • ifrs-full:DisclosureOfRelatedPartyExplanatory

    NOTE 26 - TRANSACTIONS AND BALANCES WITH RELATED PARTIES

    a.
    Key management compensation

    Key management personnel are the senior management of the Company and the members of the Company's Board of Directors.

       
    New Israeli Shekels
     
       
    Year ended December 31
     
       
    2015
       
    2016
       
    2017
     
    Key management compensation expenses comprised
     
    In millions
     
                             
    Salaries and short-term employee benefits
       
    23
         
    22
         
    21
     
    Long term employment benefits
       
    4
         
    3
         
    3
     
    Employee share-based compensation expenses
       
    4
         
    17
         
    11
     
         
    31
         
    42
         
    35
     

       
    New Israeli Shekels
     
       
    December 31,
     
       
    2016
       
    2017
     
    Statement of financial position items - key management
     
    In millions
     
                     
    Current liabilities:
       
    10
         
    11
     
    Non-current liabilities:
       
    12
         
    11
     

    b.
    In the ordinary course of business, key management or their relatives may have engaged with the Company with immaterial transactions that are under normal market conditions.

    c.
    Principal shareholder: On January 29, 2013, S.B. Israel Telecom Ltd. completed the acquisition of 48,050,000 ordinary shares of the Company and became the Company's principal shareholder. See also note 1(a). As of December 31, 2017 the principal shareholder held 49,862,800 ordinary shares including the shares issued in June 2017. See also note 21(a).

    d.
    Associates – investment in PHI

    Balances and transactions with PHI (see also note 9):

       
    New Israeli Shekels
     
       
    Year ended December 31
     
       
    2016
       
    2017
     
       
    In millions
     
    Cost of revenues
       
    (2
    )
       
    45
     

       
    New Israeli Shekels
     
       
    December 31,
     
       
    2016
       
    2017
     
       
    In millions
     
    Deferred expenses - Right of use
       
    41
         
    95
     
    Current assets (liabilities)
       
    (5
    )
       
    (43
    )
    Non-current assets (liabilities)
               
    (7
    )

    The Company provided a guarantee to PHI's debt in an amount of NIS 50 million.