Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 150

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 150
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 set forth in the Companies Law and (ii) the shareholders have approved the terms by means of the Special Majority
for Compensation.

To the extent that any such transaction with a controlling shareholder
is for a period extending beyond three years, approval, in the same manner described above, is required once every three years, unless,
with respect to transactions not involving the receipt of services or compensation can be approved for a longer term, the audit committee
determines that the duration of the transaction for such longer term is reasonable given the related circumstances.

Pursuant to regulations promulgated under the Israeli Companies
Law, certain transactions, including with respect to compensation, with a controlling shareholder or his or her relative, or with directors
or other office holders, that would otherwise require approval of a company’s shareholders may be exempt from shareholder approval
under certain conditions.

83

Approval of Significant Private Placements

Under the Companies Law, a significant private placement of securities
requires approval by the board of directors and the shareholders by a simple majority. A private placement is considered a significant
private placement if it will cause a person to become a controlling shareholder (within the meaning of the Companies Law) or if all of
the following conditions are met: (i) the securities issued amount to 20% or more of the company’s outstanding voting rights before
the issuance; (ii) some or all of the consideration is other than cash or listed securities or the transaction is not on market terms;
and (iii) the transaction will increase the relative holdings of a shareholder who holds 5% or more of the company’s outstanding
share capital or voting rights or that will cause any person to become, as a result of the issuance, a holder of more than 5% of the company’s
outstanding share capital or voting rights. However, pursuant to the Relief Regulations, the foregoing shareholder approval requirements
shall not apply to a company whose shares are listed on an exchange outside Israel or dual listed on the TASE and a foreign exchange referenced
in the second or third addendum to the Israeli Securities Law (which include, among others, the Nasdaq), if the law of the foreign jurisdiction
sets forth requirements regarding the approval of private placements and the company complies with such requirements as they apply to
companies incorporated in such foreign jurisdiction.

Duties of shareholders

Under the Companies Law, a shareholder has a duty to act in good
faith and in an acceptable manner in exercising its rights and performing its obligations to the company and other shareholders