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Notice of Claim

15th Jan 2020 07:00

RNS Number : 8077Z

SimiGon Limited

15 January 2020

SimiGon Ltd

("SimiGon" or "the Company")

Notice of Claim

SimiGon LTD. (the "Company"), a global leader in providing simulation solutions, announces that it has learned that D.D Goldstein Real Estates and Investment Ltd., which to the Company's knowledge acquired 1,500,000 shares in the Company during 2019, has filed two legal actions in the Tel Aviv District Court - a petition for leave to file a monetary claim concerning salaries on behalf of the Company and an action for prerogative relief 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.

The Company will study the materials relating to the claims and intends to vigorously defend against them. The Company has notified its insurers with respect to allegations against directors.

Upon initial review of the claims, we do not foresee any potential financial penalties to the Company even if the court was to decide that these claims have merit.

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) Scott Mathieson / Matthew Radley (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 [email protected] or visit www.rns.com.

END

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