Medigus Board Files a Motion to Approve an Up to $1.6 Million Dividend Distribution
Medigus Ltd. (Nasdaq: MDGS) has filed a motion in the Tel Aviv District Court for approval to distribute up to $1.6 million in dividends to holders of its American Depositary Shares. This request comes after previous court restrictions hindered the company's ability to buy back shares. If approved, the dividend will be distributed proportionally to shareholders, with further announcements expected upon board approval.
- Potential distribution of up to $1.6 million in dividends
- Focus on shareholder returns through dividend distribution
- Previous court restrictions on share buybacks
- Dependency on court approval for dividend distribution
Tel Aviv, Israel, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies, and electric vehicle and charging solutions, announced today that the Company filed a motion with the Tel Aviv District Court Economic Department for approval of a dividend distribution up to of
The Company’s motion, if approved as requested, would permit the Company to distribute a dividend to the holders of the Company’s American Depositary Shares in proportion to their respective holdings. A separate announcement would be made if the Company’s board of directors were to declare such a dividend.
Medigus is seeking a court approval for a dividend distribution (as opposed to a share buyback) in light of various legal restrictions that nullified its ability to buy back its shares under a previous court approval for a buyback.
About Medigus
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is a technology company focused on innovative growth partnerships, mainly in advanced medical solutions, digital commerce and electric vehicle markets. Medigus' affiliations in the medical solutions arena include ownership in Polyrizon Ltd. and ownership in industry 4.0 company, ScoutCam Inc. The Company’s affiliates in digital commerce include Gix Internet Ltd., Jeffs' Brands Ltd. and Eventer Technologies Ltd. In the electric vehicle market, Charging Robotics Ltd. and Revoltz Ltd. are also part of the Company’s portfolio of technology solution providers. To learn more about Medigus’ advanced technologies, please visit http://www.medigus.com/.
Forward-Looking Statements
his press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Medigus’ current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements could differ materially from those described in or implied by the statements in this press release.
The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed in any filings with the SEC. Except as otherwise required by law, Medigus undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Medigus is not responsible for the contents of third-party websites.
Company Contact:
Tali Dinar
Chief Financial Officer
+972-8-6466-880
ir@medigus.com
Investor Relations Contact:
Dave Gentry
RedChip Companies Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
MDGS@redchip.com
FAQ
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