Nano Dimension shareholders have voted to re-elect its director nominees and did not approve Murchinson's proposal to remove other current directors at the company's 2023 Annual General Meeting (AGM).
Dr. Yoav Nissan-Cohen, Col. (Ret.) Channa Caspi and Oded Gera will all remain on the Nano Board of Directors. CEO Yoav Stern suggested he would step down from his position as Chairman of the Board prior to the AGM, but is still referred to as Chairman in the company's latest announcement. He also threatened to resign from his position as CEO if any of Murchinson's nominated directors were voted in.
After announcing the results of the shareholders' vote at the AGM, Stern commented: “We are pleased that shareholders have supported the continued service of all the Company’s directors. The entire Board appreciates the confidence that our shareholders have shown in our leadership and strategy. We remain laser focused on maximising long-term value through the execution of our disciplined M&A strategy, while delivering strong organic growth through our leading technology and innovation efforts. We appreciate the dialogue that we have had with all shareholders throughout this process and remain committed to continuing that engagement going forward.
“We value the feedback we have received from our shareholders, as well as the recommendations of governance experts, ISS and Glass Lewis. As we move forward into the next phase of executing on our strategic plan, we will consider this feedback as part of the process to evolve and enhance our corporate governance, including the potential downsizing of the board, while ensuring we maintain the skills, capabilities and diversity on our Board to guide the Company in the years ahead. We are looking forward to a record 2023 and the value creation that lies ahead of us.”
In addition, shareholders approved the reappointment of Somekh Chaikin, Certified Public Accountants, as the Company’s independent auditor until the next Annual Meeting and have authorised the Company’s Board of Directors to determine their compensation until the next Annual Meeting.
Further details regarding the final results of the Annual Meeting will be included in a Report on Form 6-K that Nano Dimension will file with the U.S. Securities and Exchange Commission in due course.
The shareholder vote at the Nano AGM was held after a months-long dispute between the Nano Dimension governance and the company's largest shareholder Murchinson. Murchinson has reiterated its belief that change at the top of Nano Dimension was required in order to maximise shareholder value. Nano Dimension seemed to respond by pursuing an ambitious takeover of Stratasys, which seems to have failed after multiple bids. The company has since acquired UK-based software company Additive Flow.
