RECENT NEWS

Nov
05
Appeal filed Against the Court Ruling in The Action for Prerogative Relief and Related Legal Claim

SimiGon Ltd


("SimiGon" or "the Company")


Appeal filed Against the Court Ruling in The Action for Prerogative Relief and Related Legal Claim


SimiGon Ltd. (the “Company”), a global leader in providing simulation solutions, announces that further to the court ruling in relation to the legal action filed by D.D Goldstein Real Estates and Investment Ltd. (“Goldstein”) announced on June 15, 2021 in relation to prerogative relief sought 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 announced on January 14, 2020 (“Ruling”), the Company filed an appeal on October 4, 2021 against the Ruling to the Supreme Court of Israel (the “Appeal”).


On October 25, 2021, Goldstein filed a claim against the Company in connection with the Appeal (the “Claim”).


The Company is studying the Claim together with its legal advisers and will respond accordingly to the court. The Company continues not to foresee any potential financial penalties to the Company even if the court was to decide that the claim has merit. The Company has notified its insurers with respect to the Appeal and the Claim.


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