Interim Report of Liquidation Trustee of Tikcro Technologies

Rhea-AI Summary

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.

Positive

• Completion of the winding down process indicates progress toward finalizing liquidation.
• Anticipation of a pre-ruling from the Israel Tax Authority could expedite shareholder cash distributions.

Negative

• The company is in liquidation, which typically indicates financial distress.
• No active business operations are reported; focus is solely on liquidation.

TEL AVIV, Israel, July 25, 2022 /PRNewswire/ -- Tikcro Technologies Ltd. (in liquidation) (OTC: TIKRF) today announced that the liquidation trustee has substantially completed the process of winding down the affairs of the Company. The Company has applied for a pre-ruling from the Israel Tax Authority regarding the required rates of withholding tax on the Company's liquidating dividend from various categories of shareholders and is concluding the mechanics of the dividend process. The Company expects to receive the final pre-ruling within the coming months, after which it will commence the process of distributing its remaining cash to its shareholders.

An Extraordinary General Meeting of Shareholders will be held to hear an interim report on the liquidation process from Tikcro's liquidation trustee, Mr. Ran Gurit, CPA. The meeting will be held on Monday, August 15, 2022 at 9:30 a.m. (Israel time), at the office of Goldfarb Seligman & Co., 98 Yigal Alon Street, 40^th Floor, Tel Aviv, Israel.

There will be no votes held at the meeting.

About Tikcro Technologies:
Tikcro Technologies Ltd. (OTC: TIKRF) developed certain antibodies selected and verified in pre-clinical trials with a focus on antibodies targeting immune modulator pathways for cancer treatment. For more information, visit Tikcro's website at www.tikcro.com. On April 29, 2021, the shareholders of the Company approved the voluntary liquidation of the Company and appointed a liquidation trustee pursuant to the Israeli Companies Law.

 

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SOURCE Tikcro Technologies Ltd.

FAQ

What is the current status of Tikcro Technologies Ltd. as of July 2022?

Tikcro Technologies Ltd. is in the process of liquidation and has substantially completed winding down its affairs.

When will shareholders receive the liquidating dividend from Tikcro Technologies?

Shareholders can expect to receive the liquidating dividend after the final pre-ruling from the Israel Tax Authority, anticipated in the coming months.

What is the date of the Extraordinary General Meeting for Tikcro Technologies?

The Extraordinary General Meeting is scheduled for August 15, 2022, at 9:30 a.m. Israel time.

Will there be any votes held at the Extraordinary General Meeting of Tikcro Technologies?

No votes will be held at the meeting; it is solely to hear an interim report on the liquidation process.