Amendment to the Companies Regulations

Reliefs for Israeli Public Companies Listed on Stock Exchanges Outside of Israel.

The amendment, driven by over three years of active engagement by the IGF with the Ministry of Justice, was passed in April 2024 and introduces significant changes. It aims to equip Israeli Growth Companies with a comparable set of tools to manage threats posed by 'unfriendly' activists, similar to their foreign-based competitors. Additionally, it simplifies the process of share repurchasing. These changes impact exempt companies, buybacks, private placements, notice of personal interest, agendas for shareholders meetings, special shareholders meetings, record dates, and reporting obligations.