RadView Software Ltd. Updates Date and Agenda for 2022 Annual General Meeting

Rhea-AI Summary

RadView Software Ltd. (OTCMKTS:RDVWF) has rescheduled its Annual General Meeting to April 13, 2022. The agenda includes re-electing board members, appointing an external director, approving directors' compensation, and implementing a reverse stock split at a 1,000:1 ratio. The meeting will also cover the approval of a Convertible Loan Agreement and renewal of liability insurance for directors and officers. A quorum of at least 33⅓% voting rights is required. The meeting is crucial for shareholder engagement and company governance.

Positive

• Approval of critical governance proposals could enhance company stability.
• The reverse stock split may improve share price perception.

Negative

• The requirement for a high quorum (33⅓%) could delay decision-making.
• Reverse stock split may indicate underlying share price struggles.

Rosh Ha’Ain, Israel, March 08, 2022 (GLOBE NEWSWIRE) -- RadView Software Ltd. (OTCMKTS:RDVWF) today announced that its Annual General Meeting of Shareholders, which was planned to be held on April 14, 2022 will be held instead a day earlier, on April 13, 2022 at 16:00 (Israel time) at the offices of the Company, 13 Ha’Amal Street, Park Afek, Rosh Ha’Ain, Israel.  The record date for the meeting remains March 8, 2022.

The amended agenda of the meeting is as follows:

1. To re-elect Mr. Shai Beilis, Mr. Avi Fried,  Mr. Ori Gal and Mr. Assaf Katan and to elect Mr. Guy Offer to the Company’s Board of Directors, to serve until the next annual general meeting of shareholders and until their successors have been duly elected and qualified;
2. To elect Ms. Tamar Naor as an external director, to hold office for 3 years, commencing from the date of her election;
3. To set the compensation of the External Directors;
4. To set the compensation of Mr. Guy Offer, the CEO;
5. To approve the grant of options to Mr. Assaf Katan;
6. To approve the renewal of the Company’s directors’ and officers’ liability insurance policy;
7. To approve the Convertible Loan Agreement of October, 2021 with the Company’s controlling shareholder, Formula Ventures (Holdings) Ltd, and other certain lenders, as amended;
8. To reapprove the Compensation Policy of the Company;
9. To approve a reverse split of the Company’s ordinary shares at a ratio of 1,000:1, and to effect the corresponding amendments to the Company’s Memorandum of Association and Articles of Association;
10. To reappoint Kost, Forer, Gabbay, and Kasierer, a member of Ernst & Young International Ltd., as the Company’s Independent Auditors, for the fiscal years ending December 31, 2021 and December 31, 2022 and for such additional period until the next annual general meeting of shareholders;
11. To review the Auditor’s Report and the Company’s Consolidated Financial Statements for the fiscal years ended December 31, 2019.

Proposals No. 1, 5, 6 and 10 are ordinary resolutions, which require the affirmative vote of a majority of the shares. Proposals 2-4, 7, 8 and 9 are special resolutions, which have other majority requirements, as more fully described in the proxy statement.

The presentation to the shareholders of the Company’s Consolidated Financial Statements for the fiscal year ended December 31, 2019 described in Proposal 11 does not involve a vote of the Company’s shareholders.

The Board recommends the approval of each of these proposals.

The presence, in person or by proxy, of at least two shareholders holding at least 33⅓% of the voting rights, will constitute a quorum at the meeting. If within one-half of an hour from the time appointed for the meeting a quorum is not present, the Meeting will be adjourned to the same day in the next week, at the same time and place.

Additional Information and Where to Find It

In connection with the meeting, RadView will send to its shareholders as of the record date a proxy statement describing the various matters to be voted upon at the meeting, along with a proxy card enabling them to indicate their vote on each matter.  Copies of the resolutions to be adopted at the meeting, and the Company’s Consolidated Financial Statements for the year ended December 31, 2019 will be available to any shareholder entitled to vote at the meeting, at the Company’s offices during regular business hours or upon written request, submitted to the Company. You can contact the Company by phone at (972) 3 915-7060, by facsimile at (972) at (972) 3 915-7745, or by email, at Orlyb@radview.com .   

About RadView
RadView helps companies perfect their web and mobile applications with the most reliable and flexible performance engineering platform available, for more than 25 years. We address the performance requirements of such applications throughout their product life-cycle, from initial design through development, deployment, and ongoing changes and upgrades.  

Visit www.radview.com or call 1-888-RADVIEW. 

 

FAQ

What is the new date for RadView's Annual General Meeting?

RadView's Annual General Meeting is rescheduled to April 13, 2022.

What is the main agenda of RadView's Annual General Meeting?

The agenda includes re-electing board members, appointing an external director, and approving a reverse stock split.

What is the significance of the reverse stock split for RDVWF?

The reverse stock split at a 1,000:1 ratio may improve share price perception.

How many shareholders are required for a quorum at RadView's meeting?

A quorum requires at least two shareholders holding at least 33⅓% of the voting rights.

What will happen if a quorum is not present at the meeting?

If a quorum is not present within half an hour, the meeting will adjourn to the same day the following week.