Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 80

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 80
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, we may decide to direct the depositary to terminate the ADS facility at any time for
any reason. For example, terminations may occur when we decide to list our Ordinary Shares on a non-U. S. securities exchange and determine
not to continue to sponsor an ADS facility or when we become the subject of a takeover or a going-private transaction. If the ADS facility
will terminate, ADS holders will receive at least 90 days’ prior notice, but no prior consent is required from them. Under the circumstances
that we decide to make an amendment to the deposit agreement that is disadvantageous to ADS holders or terminate the deposit agreement,
the ADS holders may choose to sell their ADSs or surrender their ADSs and become direct holders of the underlying Ordinary Shares, but
will have no right to any compensation whatsoever.

ADS holders
may not be entitled to a jury trial with respect to claims arising under the deposit agreement, which could result in less favorable outcomes
to the plaintiff(s) in any such action.

The deposit agreement governing the ADSs representing
our Ordinary Shares provides that, to the fullest extent permitted by law, holders and beneficial owners of ADSs irrevocably waive the
right to a jury trial of any claim they may have against us or the depositary arising out of or relating to the ADSs or the deposit agreement.

If this jury trial waiver provision is not permitted
by applicable law, an action could proceed under the terms of the deposit agreement with a jury trial. If we or the depositary opposed
a jury trial demand based on the waiver, the court would determine whether the waiver was enforceable based on the facts and circumstances
of that case in accordance with the applicable state and federal law. To our knowledge, the enforceability of a contractual pre-dispute
jury trial waiver in connection with claims arising under the federal securities laws has not been finally adjudicated by the United States
Supreme Court. However, we believe that a contractual pre-dispute jury trial waiver provision is generally enforceable, including under
the laws of the State of New York, which govern the deposit agreement, by a federal or state court in the City of New York, which has
non-exclusive jurisdiction over matters arising under the deposit agreement. In determining whether to enforce a contractual pre-dispute
jury trial waiver provision, courts will generally consider whether a party knowingly, intelligently, and voluntarily waived the right
to a jury trial. We believe that this is the case with respect to the deposit agreement, and the ADS