Nano Dimension
Nano Dimension's DragonFly Pro 2020.
Nano Dimension has announced that it has received approval from the Israeli court to continue with its 227.5 million USD share repurchase plan, which was announced by the company in August 2023. The company says the plan was initially approved by the Israeli court until October 12, 2023.
Yoav Stern, CEO of Nano Dimension and former Chairman of the company said: “We continue to fulfil our previous promise to investors, which was temporarily held back due to the time expiration of the Israeli court approval. We thank the court again for its flexibility in extending the Repurchase Plan period. We are happy to act in a way that both implies the Company’s balance sheet and benefits its shareholders.”
The repurchase plan authorises Nano Dimension’s management to repurchase American Depository Shares (ADSs), from time to time, in open market transactions and/or in privately negotiated transactions, or in other legally permissible ways.
When the plan was first announced, the company said that it may repurchase all or a portion of the authorised repurchase amount, and the repurchase plan does not obligate it to repurchase any specific number of the ADSs, and may be suspended or terminated at any time at managements discretion.
In September 2023, Nano Dimension announced the appointment of its new chairman Dr. Yoav Nissan-Cohen, after CEO Yoav Stern stepped down prior to the company’s AGM in August. Stern had stated his intention to also resign as CEO if any Murchinson director nominees had been elected to the board at the meeting. All of Nano’s nominees were re-elected.
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