Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 82

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 82
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 statement as to the manner in which voting instructions
may be given. We cannot guarantee that ADS holders will receive the voting materials in time to ensure that they can instruct the depositary
to vote the Ordinary Shares underlying their ADSs. A shareholder is only entitled to participate in, and vote at, the meeting of shareholders,
provided that it holds our Ordinary Shares as of the record date set for such meeting and otherwise complies with our articles of association.
In addition, the depositary’s liability to ADS holders for failing to execute voting instructions or for the manner of executing
voting instructions is limited by the deposit agreement. As a result, holders of ADSs may not be able to exercise their right to give
voting instructions or to vote in person or by proxy, and they may not have any recourse against the depositary or us if their Ordinary
Shares are not voted as they have requested or if their shares cannot be voted.

Our Ordinary
Shares and ADSs are traded on different markets and this may result in price variations.

Our Ordinary Shares have been traded on the TASE
since January 4, 2007, and the ADSs have been traded on The Nasdaq Global Market since April 16, 2019. Trading in our securities on these
markets takes place in different currencies (dollars on the Nasdaq and NIS on the TASE), and at different times (resulting from different
time zones, different trading days, and different public holidays in the United States and Israel). The trading prices of our securities
on these two markets may differ due to these and other factors. Any decrease in the price of our securities on one of these markets could
cause a decrease in the trading price of our securities on the other market.

We do not
have any current plans to pay dividends in the near term.

We do not have any current plans to pay any cash dividends in the near term. We currently intend
to retain all available funds and any future earnings to fund the development and growth of our business. As a result, capital appreciation,
if any, of the ADSs will be the investors’ sole source of gain for at least the next several years. In addition, Israeli law limits
our ability to declare and pay dividends, and may subject us to certain Israeli taxes. For more information, see “Item 8. A. Financial
Information - Consolidated Statements and Other Financial Information - Dividend Policy.”

The price
of the ADSs may rely on the research and reports of equity