Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 86

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 86
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 obtain a court approval for the Merger, under sections 350 and 351 of the Companies Law. According to the Companies Law, the required majority at a general meeting of shareholders to approve a merger as described is a majority of the number of voting participants, excluding abstainers, who hold at least three -quarters(3/4) of the voting power represented at such meeting, in accordance with Section 350(9) of the Companies Law. As part of the Merger, NLS Common Shares will be offered to Kadimastem’s shareholders. As such, it is plausible to conclude that NLS is making an offer to the public and is required to file a prospectus with the Israeli Securities Authority. Based on the foregoing, Kadimastem has requested that the ISA approve an exemption to the foregoing requirement given that NLS is a public company traded on Nasdaq and therefore subject to the Securities Act, and as such, all relevant information is available to the Israeli public, and NLS shall continue to provide information in accordance with the Securities Act. Kadimastem’s request remains in process with the ISA. Pursuant to Kadimastem’s petition to the court, the court ordered that Kadimastem will convene a shareholders’ meeting for approval of the merger. Governance of the Company after the Merger (Page 119) NLS will amend its articles of association as set out in the proposals to the shareholders meeting. The articles of association of the Company will otherwise remain unchanged. 15 The current members of the Kadimastem Board will continue to serve as the members of the board of directors of Kadimastem post -Merger. Subject to the approval of Proposal 9 of the NLS Meeting, the board of directors of the Company shall consist of Mr.Ronen Twito, who is also nominated to be Executive Chairman of the board of directors of the combined company, Prof. Michel Revel, Mr.Olivier Samuel, Mr.Eran Iohan, Ms. Liora Oren, Ms. Tammy Galili and Mr.Alexander Zwyer. At each annual ordinary shareholders’ meeting of the combined company, the term of office of all directors serving at that time shall end and new directors shall be elected, by a resolution adopted by a Simple Majority. Directors whose term of office has ended as aforesaid may be re -electedfor an additional term. The board of directors may, by a resolution adopted by the board of directors, appoint an additional director