Client updates / Activist Shareholders

Rights of ADS Holders in Israeli Companies Traded on Nasdaq

20 January 2025 / Michael Barnea, Tal Freilich Hai

As part of proceedings brought by activist shareholders of Nano Dimension, the District Court ruled that ADS (American Depository Share) holders should be treated as shareholders of the company. The significance of this ruling in Israel: boards of directors will be precluded from relying on ADSs to try and block activist shareholders’ campaigns.

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Categories: Capital Markets | IPOs and Public Offerings | Shareholder Activism

ISA – New Obligations for Foreign Brokerage Service Providers

13 December 2022 / Barnea

The Israel Securities Authority’s (ISA) new draft amendment to the general permit to offer foreign brokerage services in Israel proposes to obligate permit holders to supervise the activities of marketers on their behalf. For example, permit holders must carry out due diligence examinations of marketers.

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Categories: Capital Markets | Capital Markets Regulation | Compliance | Regulation

Ministry of Justice and Israel Securities Authority Wish to Adjust the Israeli Corporate Regime to Companies without a Controlling Shareholder

25 September 2019 / Barnea

The Israel Securities Authority (ISA) and the Ministry of Justice published a call to the public to adjust the corporate regime, as part of addressing problems that may arise as a result of the transition of public companies to a decentralized ownership structure.

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Categories: Capital Markets | Corporate

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Client updates / Activist Shareholders