MTS Announces Results of 2020 Annual Meeting of Shareholders

Rhea-AI Summary

On September 24, 2020, Mer Telemanagement Solutions Ltd. (MTSL) held its 2020 Annual General Meeting of Shareholders, where key resolutions were passed. The shareholders re-elected Haim Mer to the Board of Directors and Varda Trivaks as an outside director for another term. Additionally, they approved the procurement of a directors' and officers' liability insurance policy. The reappointment of Kost Forer Gabbay & Kasierer as independent public accountants for the fiscal year ending December 31, 2020, was also ratified, allowing the Board to set their compensation.

Positive

• Re-elected Board members may provide stability and continuity in leadership.
• Approval of directors' and officers' liability insurance may enhance executive confidence.

Negative

• None.

RA'ANANA, Israel and POWDER SPRINGS, Georgia, Sept. 24, 2020 /PRNewswire/ -- Mer Telemanagement Solutions Ltd. (MTS) (Nasdaq Capital Market: MTSL), a global provider of telecommunications expense management (TEM), call accounting and contact center software, today announced that the following resolutions were adopted at the 2020 Annual General Meeting of Shareholders that was held on Thursday, September 24, 2020:

1. To re-elect Haim Mer as a member of the Board of Directors for a term expiring at the Company's 2021 Annual General Meeting of Shareholders and when his successor is elected and qualified;
2. To re-elect Ms. Varda Trivaks as an outside director (as such term is defined in the Israeli Companies Law) for a fifth term and to approve her terms of service;
3. To approve terms of procurement of a directors' and officers' liability insurance policy for current and future office holders; and
4. To ratify and approve the reappointment of Kost Forer Gabbay & Kasierer, registered public accountants, a member of Ernst & Young Global, as the Company's independent registered public accountants for the year ending December 31, 2020, and to authorize the Board of Directors to fix such independent registered public accountants' compensation in accordance with the volume and nature of their services or to delegate such power to the Audit Committee.

The complete text of the resolutions and related background are set forth in the proxy statement distributed to the Company's shareholders and furnished to the Securities and Exchange Commission as an exhibit to a Form 6-K dated August 20, 2020.

About MTS

Mer Telemanagement Solutions Ltd. (MTS) is focused on innovative products and services for enterprises in the area of telecom expense management (TEM), call accounting and contact center software. Headquartered in Israel, MTS markets its solutions through wholly-owned subsidiaries in Israel, the U.S. and Hong Kong, as well as through distribution channels. For more information please visit the MTS web site: www.mtsint.com.

Contact:                                                      
Ofira Bar                                                                    
CFO                                       
Tel: +972-9-7777-540                                                
Email: ofira.bar@mtsint.com  

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SOURCE Mer Telemanagement Solutions Ltd. (MTS)

FAQ

What resolutions were adopted at the MTSL Annual General Meeting?

Key resolutions included re-electing board members and approving a liability insurance policy.

Who were re-elected as board members during the 2020 MTSL shareholder meeting?

Haim Mer and Varda Trivaks were re-elected.

What is the role of Kost Forer Gabbay & Kasierer for MTSL?

They were reappointed as independent public accountants for the year ending December 31, 2020.

When was the MTSL Annual General Meeting held?

The meeting took place on September 24, 2020.

What financial year does the reappointment of the accountants cover for MTSL?

It covers the fiscal year ending December 31, 2020.