Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 238

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 6
Chunk 238
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 directors; and (iii) unless exempted under regulations promulgated under the Companies Law, the shareholders of the company. Approval  
      of terms of the compensation of directors of a company which do not comply with the compensation policy may nonetheless be approved, in   
    special circumstances, subject to two cumulative conditions: (i) the compensation committee and thereafter the board of directors, approved 
    the terms after having taken into account the various considerations and mandatory requirements set forth in the Companies Law with respect 
    to a compensation policy and (ii) the shareholders of the company have approved the terms by means of the Special Majority for Compensation.
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With respect to compensation of an officer (including a chief executive officer) or director who is also a controlling shareholder, see “— Disclosure of personal interests of a controlling shareholder and approval of transactions.”
 
Disclosure of personal interests of a controlling shareholder and approval of certain transactions
 
Under the Companies Law, the disclosure requirements that apply to an office holder also apply to a controlling shareholder of a public company.  In the context of a transaction involving a shareholder of the company, the definition of “controlling shareholder” also includes shareholders that hold 25% or more of the voting rights if no other shareholder owns more than 50% of the voting rights in the company (and the holdings of two or more shareholders which each have a personal interest in such matter will be aggregated for the purposes of determining such threshold), but excludes a shareholder whose power derives solely from his or her position as a director of the company or from any other position with the company. For this purpose, the holdings of all shareholders who have a personal interest in the approval of the same transaction will be aggregated.
 
Under the Companies Law, extraordinary transactions with a controlling shareholder or in which a controlling shareholder has a personal interest, including a private placement in which a controlling shareholder has a personal interest, as well as transactions for the provision of services, whether directly or indirectly, by a controlling shareholder or his or her relative, or a company such controlling shareholder controls, require the approval of the audit committee, the board of directors and the shareholders, in that order. Transactions concerning the compensation terms of a controlling shareholder or a controlling shareholder’s relative, whether as an office holder or an employee, require the approval of the compensation committee, the board of directors and the shareholders, in that order. The shareholder approval must meet one of the following requirements:
 

•          at least a majority of the shares held by shareholders who have no personal interest in the