641 0 Kommentare All Three Leading Independent Proxy Advisory Firms Recommend Nano Dimension Shareholders Support Murchinson’s Four Proposals – Including Removing Yoav Stern From the Board

Murchinson Ltd. (collectively with its affiliates and funds it advises and/or sub-advises, “Murchinson” or “we”), the largest shareholder with approximately 5.2% of the outstanding shares of Nano Dimension Ltd. (NASDAQ: NNDM) (“Nano Dimension” or the “Company”), today announced that two more leading independent proxy advisory firms, Glass Lewis & Co. (“Glass Lewis”) and Egan-Jones Ratings Company (“Egan-Jones”), have joined Institutional Shareholder Services Inc. (“ISS”) in recommending that shareholders vote to support all four of Murchinson’s proposals, including the appointment of Murchinson’s two experienced independent nominees and the removal of four sitting directors – including Chairman and CEO Yoav Stern.

Murchinson stated: “This rare showing of unanimous support from all three proxy advisory firms leaves no room for doubt: significant change is needed at Nano Dimension, and it is needed now. Each of the objective, third-party expert firms also agreed that removing Chairman and CEO Yoav Stern was critical to reversing the trend of underperformance and terrible corporate governance that has plagued Nano Dimension. Notably, each of the proxy advisory firms highlighted the importance of urgency given the potential for near-term value destruction under a Board that has a track record of putting its own interests ahead of preserving shareholder value. We encourage our fellow shareholders to waste no time and vote today for all four of Murchinson’s proposals, including in favor of our independent nominees, who will bring the right experience and refreshed perspectives to the Nano Dimension boardroom.”

In reaching its conclusion that shareholders should support ALL of Murchinson’s proposals, Glass Lewis highlighted the Company’s poor performance and corporate governance failings: ¹

“In sum, we believe the Dissident has presented several convincing arguments highlighting certain performance and governance concerns at the Company, which collectively are sufficient grounds constituting a case for board-level change at Nano Dimension.”
“We believe the Dissident has provided a convincing case that the Company has underperformed recently, as evidenced by Nano Dimension’s strongly declined share price, negative enterprise value and discount to NAV per share.”
“(W)e are concerned with the Company’s negative enterprise value for now over one year, which we believe indicates that shareholders effectively ascribe no value to the Company’s underlying business at present, with investors valuing the Company at less than its net cash balance.”