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Tikcro Technologies Ltd. (OTC: TIKRF) has extended the deadline for submitting documentation for exemption from Israeli withholding tax regarding its liquidating dividend from April 10, 2023, to April 28, 2023. This extension aims to allow more shareholders to complete their exemption requests. A cash dividend totaling $3,017,270 or $0.305 per share was declared on February 9, 2023, effective March 2, 2023. Shareholders are advised to submit a declaration of non-Israeli residency to avoid a 25% withholding tax, except for those exempt or with an exemption certificate. The payment will occur after April 28, 2023, barring any deferral requests.
Tikcro Technologies Ltd. (OTC: TIKRF), under liquidation, announced a liquidating cash dividend totaling $3,017,270, equating to $0.305 per share. The record date for this dividend is set for February 21, 2023. A paying agent will oversee the distribution of funds, and shareholders may obtain a withholding tax exemption based on their residency status. The deadline for submitting documentation for exemption is April 10, 2023. Additionally, Tikcro's intellectual property will be managed by a trustee, and any future monetization could lead to an additional dividend for shareholders. However, there are no guarantees regarding the monetization of the IP.
Tikcro Technologies Ltd. (OTC: TIKRF), currently in liquidation, has reported substantial completion of its winding down process. The company awaits a pre-ruling from the Israel Tax Authority regarding withholding tax rates on liquidating dividends. This ruling is expected in the coming months, post which cash distributions to shareholders will commence. An Extraordinary General Meeting is scheduled for August 15, 2022, to provide an interim report on the liquidation process. No votes will be held during this meeting.
Tikcro Technologies Ltd. (OTC: TIKRF) announced an Extraordinary General Meeting for shareholders on April 29, 2021, at 9:30 a.m. Israel time. This meeting will address the proposal for the company's voluntary liquidation and the appointment of Ran Gurit as the liquidation trustee. A 75% approval from voting shares is required for the proposal to pass. Shareholders will receive a proxy statement and card for voting.
Tikcro focuses on developing antibodies targeting immune modulator pathways for cancer treatment.
Tikcro Technologies Ltd. (OTC: TIKRF) announced a board decision to voluntarily wind up operations and distribute approximately $3.8 million in net cash to shareholders. Following unsuccessful attempts to advance its antibody program and explore business combinations, the board determined this route was in shareholders' best interests. A shareholder meeting will be convened to approve the liquidation process, which will last about six months. The remaining cash will be distributed after liabilities and expenses are settled, subject to any applicable withholding tax.
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