SimiGon Limited Court Ruling in The Action for Prerogative Relief (9577B)
June 15 2021 - 6:34AM
UK Regulatory
TIDMSIM
RNS Number : 9577B
SimiGon Limited
15 June 2021
15 June 2021
SimiGon Ltd
("SimiGon" or "the Company")
Court Ruling in The Action for Prerogative Relief
SimiGon Ltd. (the "Company"), a global leader in providing
simulation solutions, announces that the Company has received the
court ruling in relation to the legal action filed by D.D Goldstein
Real Estates and Investment Ltd. ("Goldstein") as announced on
January 14, 2020. Goldstein sought prerogative relief concerning
resolutions approved at the Company's annual general meeting held
on December 30, 2019 regarding the appointment of directors and the
determination of their compensation.
The court ruled that Mr. Ami Vizer should be considered a
"controlling shareholder" for the purposes of Israeli law, at least
from March 2019 (without making a determination for prior periods
because it was not relevant to the court ruling). The court also
gave an award of costs against the Company in the amount of NIS
30,000.
The derivative action filed by Goldstein was delayed pending
this ruling and the Company estimates that it will now go ahead.
The Company continue to intend to vigorously defend against this
action and reiterate the disclosures made in this regard in the
Company's audited statutory accounts for the year ended 31 December
2020.
Enquiries:
SimiGon Ltd
Ami Vizer, SimiGon's Chief Executive Officer
and Executive Chairman +1 (407) 951 5548
Efi Manea, Chief Financial Officer
finnCap (NOMAD & Broker) +44 (0) 20 7220 0500
Henrik Persson / Milesh Hindocha (corporate
finance)
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END
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