Analyst Summary
- A Special General Meeting of Shareholders will be held on April 2, 2025, to vote on two proposals.
- Proposal 1 involves increasing the Company’s authorized share capital from NIS 15,000,000 to 150,000,000 Ordinary Shares and amending the Articles of Association to reflect this change. This is to reinstate the previously approved share capital amount after a reverse stock split.
- Proposal 2 concerns amending the Articles of Association to include an ‘Exclusive Forum’ section, designating the federal district courts of the United States of America as the sole forum for resolution of complaints arising under the United States Securities Act of 1933.
- The Board of Directors unanimously recommends voting FOR both proposals.
- Shareholders of record as of March 18, 2025, are entitled to vote.
- The company relies on the Foreign Private Issuer Exemption with respect to the quorum requirement for meetings of its shareholders.