Shareholders’ meeting of nano dimension which the shareholder, the Canadian fund Murchinson, announced, and which Shannu Dimension claimed was illegal – gathered yesterday (Monday) and voted in favor of all Murchinson proposals, which include the removal of directors, headed by the chairman and the CEO Yoav Stern.
Nano Dimension, which deals in the field of 3D printing, said in response that the majority of Nano Dimension’s shareholders did not vote for the fund’s proposals – “Over 90% of the shareholders not related to Murchinson voted against or abstained from voting at the false shareholders meeting. Without including the shares they own , Murchinson and Anson (another shareholder who expressed dissatisfaction with the management, S.H.O.) obtained the support of about 9.5% of the shareholders,” the company said.
Murchinson owns 5.5% of Nano Dimension’s shares, and after asking the company to convene a meeting in order to replace board members, and not being answered within a certain time, she decided to convene the meeting herself. The Canadian fund received a boost when the major US institutional consulting firms, ISS, Glass Lewis and Egan-Jones recommended voting in favor of its proposals.
At the meeting, 92% of those present voted in favor of the proposals, including the removal of Stern from the board of directors, as well as the removal of directors Oded Gera, Yigal Rotem and Dr. Yoav Nissen-Cohen, and appointing Kenneth Traub and Dr. Yehoshua Rosenzweig in their place.
Murchinson said in response to the results that “the numbers speak for themselves: the shareholders have sent a clear message that urgent change is required at Nano Dimension. The only way to change the trend of poor performance and terrible corporate governance is through a board of directors that will look first and foremost at the interests of the shareholders. We thank our members The shareholders for the support.” Murchinson called on Nano Dimension to avoid legal proceedings and respect the will of the shareholders, so as not to create further disturbances.
According to Nano Dimension’s response, it has no such intention. The company said that “the campaign of the Murchinson and Anson funds was based on lies, disinformation and actions with bad intent.” According to her, the declaration of “victory” in the assembly is meaningless because the assembly had no legal validity. “The low voter turnout and the lack of support shows that our shareholders will not surrender to factors that, in the eyes of the company, are only interested in quick profit at the expense of significant potential value in the long term for them.”
In conclusion, the company states that the shareholders can ignore the published results and that its board of directors will continue to focus on achieving long-term value for the shareholders.