Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 167

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 16G
Chunk 167
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ITEM   CORPORATE 
16G.   GOVERNANCE
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Under the Companies Law, companies incorporated under the laws of the State of Israel, whose shares are publicly traded, including companies whose shares are listed on the Nasdaq Global Market are considered public companies under Israeli law and are required to comply with various corporate governance requirements under Israeli law relating to such matters as external directors, the audit committee, compensation committee, compensation policy, company’s auditors, and an internal auditor. These requirements are in addition to the corporate governance requirements imposed by the Nasdaq Listing Rules, and other applicable provisions of U.S. securities laws to which we are subject as a foreign private issuer due to the listing of our ordinary shares on the Nasdaq Global Market.
 

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Under the Nasdaq Listing Rules, a foreign private issuer, such as us, may generally follow its home country rules of corporate governance in lieu of the comparable requirements of the Nasdaq Global Market, except for certain matters including (among others) the composition and responsibilities of the audit committee and the independence of its members within the meaning of the rules and regulations of the SEC.
 
We intend to rely on this “home country practice exemption” with respect to the following Nasdaq Listing Rules:
 

●                                                                     Quorum                                                                 
     requirements. As permitted under the Companies Law pursuant to our articles of association, the quorum required for an ordinary meeting 
        of shareholders consists of at least two shareholders present in person, by proxy or by other voting instrument in accordance with   
        the Companies Law, who hold at least 20% of the voting power of our shares (and in an adjourned meeting, with some exceptions, any   
                  number of participating shareholders), instead of 331/3% of the issued share capital required under the Nasdaq             
                                                                  Listing Rules.                                                             
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●   Distribution                                                                                                                             
    of certain reports to shareholders. As opposed to the Nasdaq Listing Rules, which require listed issuers to make its annual reports      
    available to shareholders in one of a number of specific manners, Israeli law does not require that we distribute annual reports,        
    including our financial statements. As such, the generally accepted business practice in Israel is to distribute such reports to         
    shareholders through a public regulated distribution website. In addition to making such reports available on a public regulated         
    distribution website, we make our audited financial statements available to our shareholders at our offices and only mail such reports   
    to shareholders upon request. As a foreign