- In
accordance with Israeli regulations, demand letter has been sent to MDGS
and meeting of company shareholders must be held within 21 days of
letter’s date
- Pure
Capital Ltd. says that it is committed to raising MDGS shareholder value
through the process of replacing internal members of the board of
directors
- Replacement
nominees are led by Professor Benad Goldwasser, a urological surgeon,
inventor and entrepreneur; all nominees have been vetted, according to
Pure Capital
Privately-held investment firm Pure Capital Ltd. yesterday
announced that it has acquired 217,696 ADRs of Medigus Ltd. (NASDAQ: MDGS)
(TASE: MDGS), bringing its total ownership stake to greater than five percent
of the Israeli medical device company (http://ibn.fm/AVCmk). In accordance with Israeli
regulations, Pure Capital has sent a letter to Medigus’ CEO, board chairman and
board of directors seeking an immediate general assembly meeting of the MDGS
shareholders and the dismissal of its internal members of the board.
In the letter, Pure Capital details a number of recent
corporate actions that it believes have been harmful to the company’s shareholders.
They include continual capital consolidations and capital raises under
unfavorable terms. Further, Pure Capital has asked MDGS to avoid raising
capital, making public or private offerings and executing disposition of assets
until the meeting has taken place.
In a news release issued earlier this week, Pure Capital
noted that it is committed to substantially increasing MDGS’s shareholder value
and fully replacing the members of its board. According to Israeli regulations,
the requested meeting must be held no later than 21 days from the date of the
letter of demand.
A team of replacement nominees, as detailed by Pure Capital,
is led by Professor Benad Goldwasser. He is a urological surgeon and co-founder
of Medinol Ltd., an Israeli medical device company. He and the other nominees
have been carefully vetted and were selected after a thorough due diligence
process by Pure Capital.
Pure Capital has led various transactions and capital raises
totaling over $200 million over the past two years in the U.S., Canada and
Israel.
MDGS is a medical device company specializing in developing
innovative imaging solutions and minimally invasive endosurgical tools. The
company also developed the MUSE™ system endoscopic device, which is designed
for the treatment of gastroesophageal reflux disease (GERD).
For more information, visit the company’s website at www.Medigus.com
About QualityStocks
QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential. We offer several ways for investors to learn more
about investing in these companies as well as find and evaluate them.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment