Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 7, 2020, the board of directors of the Registrant resolved to appoint Ms.
Ora Meir Soffer to serve as Chief Executive Officer of the Registrant, effective
immediately. Ora Meir Soffer serves as Chairperson of the Board of Directors of
the Registrant. The information relating to Ora Meir Soffer provided in Item
5.02 of the Current Report on Form 8-K filed on March 4, 2020 is incorporated
herein by reference.
Item 8.01 Other Events.
A letter to the shareholders of the Registrant from its CEO and Chairperson of
the Board of Directors dated May 11, 2020 is attached hereto as Exhibit 9.1 and
is incorporated herein by reference.
Item 8.02 Other Events.
Reference is made to Securities and Exchange Commission Release No. 34-88465
dated March 25, 2020 "Order under Section 36 of the Securities Exchange Act of
1934 Modifying Exemptions from the Reporting and Proxy Delivery Requirements for
Public Companies" (the "Order"). The Order concerns exemptions from certain
filing deadlines in light of coronavirus disease 2019 (COVID-19).
The outbreak of COVID-19 in Israel and attendant restrictions on life in Israel,
which include, among others, our team and advisors being required to work from
home, combined with the additional workload involved in completing the
transactions reported by the Registrant during the first quarter of this year
for the issuance and sale of shares in the Registrant and the sale of shares in
its subsidiary Novomic Ltd, have caused delays in completing the required work
on the Registrant's Quarterly Report on Form 10-Q for the quarter ended March
31, 2020 (the "Quarterly Report"). The Registrant is consequently unable to file
the Quarterly Report on a timely basis. The Registrant is relying on the Order.
The estimated date by which the Quarterly Report is expected to be filed is no
later than June 15, 2020.
Item 9.01 Financial Statements and Exhibits.
Exhibit: Letter to the shareholders of the Registrant from its CEO and
Chairperson of the Board of Directors dated May 11, 2020.
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