The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSIM.L Regulatory News (SIM)

  • There is currently no data for SIM

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Update to proposed Merger & Delisting

25 Feb 2022 14:15

RNS Number : 9039C
SimiGon Limited
25 February 2022
 

SimiGon Ltd.

("SimiGon" or the "Company")

 

Update related to a new lawsuit with regards to the merger transaction with Maxify Solutions, Inc. and application for a restraining order with respect to the delisting

 

SimiGon Ltd. (LON: SIM) wishes to update its shareholders that with regards to the merger transaction with Maxify Solutions Inc. that was approved by SimiGon's shareholders of February 18, 2022 (the "Merger").

 

On February 20, 2022, Mr. Gal Erez, a holder of 2,050,000 Shares of the Company constituting approximately 4% the share capital of the Company, filed a lawsuit in the Tel Aviv District Court against the Company and Mr. Amos Vizer requesting certain remedies for the removal of alleged minority shareholders oppression (the "Lawsuit") and submitted an application for a restraining order in order to prevent the cancelation of the admission of the Company's Ordinary Shares to trading on the AIM Market (the "Cancellation").

 

The remedies sought by Mr Erez pursuant to the Lawsuit include (in summary) the expropriation of control from Mr Vizer, the cancellation of the proposed delisting of the Company's shares from AIM, the cancelation of the Merger, the repurchase of Mr Vizer's shares in the Company, and the granting to minority shareholders of the right to appoint the Company's board, and/or other remedy that the court might deem appropriate to remove the alleged oppression. Additional information can be found on the Company's website at: https://www.simigon.com/ge-further-information.

On February 21, 2022 the court issued an ex parte temporary restraining order with respect to the Cancellation. Responses are required to be filed by February 28, 2022 and a hearing on the matter is expected shortly thereafter.

 

The Company is in the process of preparing an application requesting cancelation of the ex parte temporary restraining order and intends to vigorously defend the Lawsuit and believes that it has cogent claims and defences in this regard. The Company has notified its insurers with respect to the Lawsuit and the restraining order.

 

Pending further updates with regard to the foregoing, there is currently no update to the expected timetable for the Merger and Cancellation. Further announcements and updates will be provided as appropriate.

 

Enquiries:

 

SimiGon Ltd

Ami Vizer, Chief Executive Officer and Executive Chairman

Efi Manea, Chief Financial Officer

www.simigon.com

 

 

Tel: +1 (407) 951 5548

finnCap (NOMAD & Broker)

Henrik Persson / Milesh Hindocha (Corporate Finance)

 

Tel: +44 (0) 20 7220 0500

 

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBKPBPNBKDPBB
Date   Source Headline
16th Sep 20137:00 amRNSInterim Results
19th Aug 20137:00 amRNSNotice of Results
5th Aug 20132:57 pmRNSExercise of Options
27th Jun 20137:00 amRNSDirector Dealing
26th Jun 20137:00 amRNSSimiGon Awarded $6.7m Contract
19th Jun 20131:48 pmRNSPosting Annual Report and Accounts
22nd Apr 20137:00 amRNSPreliminary Results
18th Apr 20137:00 amRNSSimiGon wins contract from US Air Force
12th Apr 20137:00 amRNSNotice of Full Year 2012 Results
21st Feb 20139:08 amRNSURS Federal Services assist SimiGon on US Army bid
20th Dec 20123:10 pmRNSResult of AGM
12th Dec 20127:00 amRNSThird contract agreed with key European customer
3rd Dec 20127:00 amRNSBusiness and Trading Update
15th Nov 20121:46 pmRNSNotice of AGM
17th Oct 20122:13 pmRNSExercise of Options
11th Oct 20122:33 pmRNSIssue of Equity and Options
27th Sep 20127:00 amRNSInterim Results
4th Sep 20127:00 amRNSNotice of Results
22nd Aug 20127:00 amRNSMajor Contract Win with South American Country
17th Jul 20127:00 amRNSSecond contract from strategic European customer
22nd May 20123:35 pmRNSHolding(s) in Company
10th May 20127:00 amRNSHolding(s) in Company
1st May 20127:00 amRNSTAISR Group awards significant contract to SimiGon
25th Apr 201210:23 amRNSPosting Annual Report and Accounts
12th Apr 20123:14 pmRNSIssue of Equity & Options
11th Apr 201212:19 pmRNSAnnual Report and Accounts
4th Apr 20127:00 amRNSFinal Results
16th Dec 20117:00 amRNSAppointment of NOMAD and broker
28th Nov 20113:39 pmRNSResult of AGM
24th Oct 20114:17 pmRNSNotice of AGM
14th Sep 20117:00 amRNSInterim Results
1st Sep 20117:00 amRNSUS Air Force awards contract to SimiGon
10th Aug 20111:24 pmRNSAdditional Listing
4th Jul 20113:17 pmRNSIssue of Equity
28th Jun 20112:00 pmRNSAnnual Report and Accounts
19th Apr 20117:00 amRNSFinal Results
1st Dec 20108:58 amRNSDirector/PDMR Shareholding
28th Sep 20107:00 amRNSInterim Results
20th Sep 20104:05 pmRNSResult of AGM
16th Aug 20104:39 pmRNSAnnual Report & Accounts & Notice of AGM
30th Jul 20107:00 amRNSDirectorate Change
29th Jun 20102:06 pmRNSAnnual Financial Report
29th Apr 20107:00 amRNSFinal Results
2nd Feb 20103:31 pmRNSGrant of Options
21st Jan 20109:00 amRNSIssue of Equity
30th Dec 200910:48 amRNSDirector/PDMR Shareholding
30th Sep 20097:00 amRNSContract Win
14th Aug 20097:00 amRNSHalf Yearly Report
16th Jul 20095:00 pmRNSIssue of Equity
1st Jul 20093:20 pmRNSResult of AGM

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.