Company: SVREW
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001013762-25-001028
Chunk: 29

Company: SaverOne 2014 Ltd.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 29
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 or equity-related securities in the future at a price that we might
otherwise wish to effect sales.

In
the event that our ADSs are delisted from Nasdaq, U. S. broker-dealers may be discouraged from effecting transactions in the ADSs because
they may be considered penny stocks and thus be subject to the penny stock rules.

The
SEC has adopted a number of rules to regulate “penny stock” that restrict transactions involving stock which is deemed to
be penny stock. Such rules include Rules 3a51-1, 15g-1 through 15g-7, and 15g-9 under the Exchange Act. These rules may have the effect
of reducing the liquidity of penny stocks. “ Penny stocks” generally are equity securities with a price of less than $5.00
per share (other than securities registered on certain national securities exchanges or quoted on Nasdaq if current price and volume
information with respect to transactions in such securities is provided by the exchange or system). Following a delisting from NASDAQ,
the ADSs may constitute “penny stock” within the meaning of these rules. The additional sales practice and disclosure requirements
imposed upon U. S. broker-dealers may discourage such broker-dealers from effecting transactions involving the ADSs, which could severely
limit the market liquidity of the ADSs and impede their sale in the secondary market.

A
U. S. broker-dealer selling penny stock to anyone other than an established customer or “accredited investor” (generally,
an individual with net worth in excess of $1,000,000 or an annual income exceeding $200,000, or $300,000 together with his or her spouse)
must make a special suitability determination for the purchaser and must receive the purchaser’s written consent to the transaction
prior to sale, unless the broker-dealer or the transaction is otherwise exempt. In addition, the “penny stock” regulations
require the U. S. broker-dealer to deliver, prior to any transaction involving a “penny stock”, a disclosure schedule prepared
in accordance with SEC standards relating to the “penny stock” market, unless the broker-dealer or the transaction is otherwise
exempt. A U. S. broker-dealer is also required to disclose commissions payable to the U. S. broker-dealer and the registered representative
and current quotations for the securities. Finally, a U. S. broker-dealer is required to submit monthly statements disclosing recent