Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 47

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 3
Chunk 47
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 raw materials from our suppliers in a timely manner.
 
Risks Related to Ownership of Our Ordinary Shares
 
There is no guarantee that our ordinary shares will earn any positive return in the short term or long term.
 
A holding of our ordinary shares is speculative and involves a high degree of risk and should be undertaken only by holders whose financial resources are sufficient to enable them to assume such risks and who have no need for immediate liquidity in their investment. A holding of our ordinary shares is appropriate only for holders who have the capacity to absorb a loss of some or all of their holdings.

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Dual listed shares may be exposed to increased volatility.
 
The Company’s listing on each of the TASE and Nasdaq may increase volatility due to the ability to buy and sell ordinary shares in two places, different market conditions in different capital markets, and different trading volumes and trading times. This may result in less liquidity on each exchange, different liquidity levels, and different prevailing trading prices.
 
If any person acquires, holds, or has control of or direction over 5% or more of our outstanding shares or any person obtains control of a holder of 5% or more of our shares, without procuring the prior approval from the IMCA, the licenses issued to us by the IMCA to conduct our cannabis-related activities in Israel may be suspended or revoked. Under our amended and restated articles of association, if any person acquires, holds, or has control of or direction over more than 4.99% of our outstanding ordinary shares at any time without receiving prior approval from the IMCA, the ordinary shares held by that person in excess of such limit will automatically become dormant shares.
 
The directives and guidelines issued by the IMCA and the terms of the licenses issued to us by the IMCA to conduct our cannabis-related activities (“IMCA Licenses”), impose certain requirements that prohibit any person from directly or indirectly acquiring, holding or maintaining control of or direction over 5% or more of our issued share capital and voting power without first obtaining the prior approval of the IMCA (the “Approval Requirement”). The terms of our IMCA Licenses provide that the IMCA Licenses may be suspended or revoked in the event of a breach of the Approval Requirement.
 
We have implemented measures in our amended and restated articles of association in order to mitigate the risk of a contravention of the Approval Requirement and a resulting risk of expiry of our IMCA Licenses. Under our amended and restated articles of association, if any person ac