Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 142

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 8
Chunk 142
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 that was stipulated in the contract.
 
InterCure’s SOD was submitted on August 3, 2023, together with InterCure’s counterclaim for over NIS 1,000,000. In the counterclaim, InterCure argues that Geffen misrepresented the rights of the “Hello Medical” partnership which were acquired by InterCure (inter alia, regarding the partnership’s financial status). As a result of the said misrepresentation by Geffen InterCure received a different asset, a loss-making asset. Geffen’s statement of reply and their statement of defense for the counter-claim were submitted on January 22, 2024, and InterCure’s statement of reply for the counter-claim was submitted on February 18, 2024.
 
The parties engaged in a mediation process, which did not result in a settlement.
 
A pre-trial hearing was held on October 29, 2024, during which the court scheduled a second pre-trial hearing for June 18, 2025.
 
On March 10, 2025, the parties submitted evidence for the main claim and counterclaim, and defense evidence is scheduled to be submitted by May 19, 2025.
 
Dividends
 
During the last ten years, we have not declared or paid any cash dividends on our ordinary shares and do not anticipate paying any cash dividends in the foreseeable future. Payment of cash dividends, if any, in the future will be at the discretion of our board of directors and will depend on then-existing conditions, including our financial condition, operating results, contractual restrictions, capital requirements, business prospects and other factors our board of directors may deem relevant.
 
The Companies Law imposes further restrictions on our ability to declare and pay dividends so that a company may make a distribution out of its profits provided however that there is no reasonable suspicion that the distribution will keep the company from meeting its existing and expected obligations when they fall due.
 
Payment of dividends may be subject to withholding taxes. See “Item 10E. Taxation”, for additional information.
 

B.   Significant
       Changes. 
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Except as disclosed elsewhere in this Annual Report, we have not experienced any significant change since the date of our audited consolidated financial statements included in this Annual Report.