FORM 6 – K
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
Report on Foreign Issuer
Pursuant to Rule 13a
– 16 or 15d – 16
of the Securities
Exchange Act of 1934
For the Month of April 2004
Gilat Satellite
Networks Ltd.
(Translation of
Registrant’s Name into English)
Gilat House, Yegia
Kapayim Street
Daniv Park, Kiryat Arye,
Petah Tikva, Israel
(Address of Principal
Corporate Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
Attached hereto and incorporated by reference herein is Registrant’s announcement dated April 5, 2004 that Registrant has signed an agreement with Bank Hapoalim modifying the loan terms, and also announcing the Annual General Meeting of Shareholders scheduled for April 29, 2004.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Gilat Satellite Networks Ltd. (Registrant) BY: /S/ Yaron Suher —————————————— Yaron Suher V.P. Financial Planning and Treasury |
Dated: April 8, 2004
Apr 05, 2004
Petach Tikvah Israel, April 5, 2004 – Bank Hapoalim and Gilat Satellite Networks Ltd. (NASDAQ: GILTF) today announced that an agreement for the modification of the terms of the outstanding loan by the Bank to Gilat has been signed by the parties, and for the Bank to have a right to receive warrants to purchase Gilat’s ordinary shares up to the outstanding balance of the loan, which currently stands at approximately $71 million. The agreement is subject to the approval by Gilat’s shareholders at the annual general meeting that is scheduled for April 29, 2004.
The parties have agreed to a reduction of the rate of interest applicable to the outstanding loan balance going forward, a deferral of part of the principal payments that are due in 2005 and 2006 to the end of the loan period in 2012, and relaxation of the financial covenants contained in the loan agreement. The Bank will have a right to receive warrants to purchase Gilat ordinary shares for a period of three years commencing July 1, 2004 at the then prevailing market rates subject to a minimum and maximum price per share as provided in the agreement.
About Gilat Satellite
Networks Ltd.
Gilat Satellite Networks Ltd., with
its global subsidiaries Spacenet Inc., Gilat Latin America and rStar Corporation (RSTRC),
is a leading provider of telecommunications solutions based on Very Small Aperture
Terminal (VSAT) satellite network technology – with more than 450,000 VSATs shipped
worldwide. Gilat, headquartered in Petah Tikva, Israel, markets the SkyEdge ™ Product
Family which includes the SkyEdge™ Pro, SkyEdge™ IP, SkyEdge™ Call,
SkyEdge™ DVB-RCS and SkyEdge™ Gateway. In addition the Company markets the
Skystar Advantage®, DialAw@y® IP, FaraWay™, Skystar 360E™ and
SkyBlaster* 360 VSAT products in more than 80 countries around the world. Gilat provides
satellite-based, end-to-end enterprise networking and rural telephony solutions to
customers across six continents, and markets interactive broadband data services. Skystar
Advantage, Skystar 360E, DialAw@y IP and FaraWay are trademarks or registered trademarks
of Gilat Satellite Networks Ltd. or its subsidiaries. (*SkyBlaster is marketed in the
United States by StarBand Communications Inc. under its own brand name.) Visit Gilat at
www.gilat.com.
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission.
Investor Relations
+1 703- 848-1515
tim.perrott@spacenet.com
Gilat Media Contact:
Barry Spielman,
Senior Director, Corporate Marketing
tel: +(972)3-925-2201
barrys@gilat.com