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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Radware Ltd.    RDWR   IL0010834765

RADWARE LTD.

(RDWR)
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Radware Announces 2020 Annual General Meeting

10/06/2020 | 06:00am EST

TEL AVIV, Israel, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced that its 2020 Annual General Meeting of Shareholders will be held on Tuesday, November 10, 2020, at 3:00 p.m. (Israel time), at the offices of the Company, 22 Raoul Wallenberg Street, Tel Aviv, Israel. The record date for the Annual General Meeting is October 7, 2020.

In light of the outbreak of the coronavirus disease 2019 (COVID-19) pandemic, the Company reserves the option to convert the Annual General Meeting from a physical meeting to a virtual meeting, in which event the Company will issue a press release and/or furnish a Form 6-K or other document to the U.S. Securities and Exchange Commission (SEC) prior to the date of the meeting outlining the manner in which shareholders may attend the virtual meeting.

The agenda of the Annual General Meeting is as follows:

  1. To elect Mr. Gabi Seligsohn and Mr. Stanley B. Stern as Class III directors of the Company until the annual general meeting of shareholders to be held in 2023 and to elect Ms. Naama Zeldis as Class II director of the Company until the annual general meeting of shareholders to be held in 2022;
  2. To approve certain amendments to the Company’s Articles of Association relating to shareholder proposals;
  3. To approve grants of equity-based awards to the President and Chief Executive Officer of the Company;
  4. To approve amendments to the Company's Compensation Policy for Executive Officers and Directors;
  5. To authorize Mr. Yehuda Zisapel to act as Chairman of the Board of Directors for a period of three years; and
  6. To approve the reappointment of Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global, as the Company’s auditors, and to authorize the Board of Directors to delegate to the Audit Committee the authority to fix their remuneration in accordance with the volume and nature of their services.

In addition to the proposals listed above, at the Annual General Meeting, the Company will (i) present and discuss the financial statements of the Company for the year ended December 31, 2019 and the auditors’ report for this period; and (ii) transact such other business as may properly come before the Annual General Meeting or any adjournment thereof.

All Proposals require the approval of a simple majority of the shares voted on the matter at the Annual General Meeting, either in person or by proxy; provided that with respect to Proposals 3, 4 and 5 either (i) the shares voted in favor of the proposal include at least a majority of the shares voted at the Annual General Meeting, either in person or by proxy, by shareholders who are neither “controlling shareholders” nor have a “personal interest” (as such terms are defined in the Israeli Companies Law, 5759-1999 (the “Companies Law”)) in approving the proposal or (ii) the total number of shares voted against such proposal at the Annual General Meeting, either in person or by proxy, by disinterested shareholders described in clause (i) does not exceed 2% of the Company’s outstanding shares. As of the date hereof, the Company has no controlling shareholder within the meaning of the Companies Law.

In the absence of the requisite quorum of shareholders at the Annual General Meeting, the Annual General Meeting shall be adjourned to the same day in the next week, at the same time and place, unless otherwise determined at the Annual General Meeting in accordance with the Company’s Articles of Association.

Position Statements

In accordance with the Companies Law, position statements with respect to any of the proposals at the Annual General Meeting must be delivered to the Company no later than 10 days prior to the Annual General Meeting date.

Additional Information and Where to Find It

In connection with the Annual General Meeting, Radware will make available to its shareholders of record a proxy statement describing the various proposals to be voted upon at the Annual General Meeting, along with a proxy card enabling them to indicate their vote on each matter. The Company will also furnish copies of the proxy statement and proxy card to the Securities and Exchange Commission (SEC) on Form 6-K, which may be obtained for free from the SEC’s website at www.sec.gov, the Company’s website at https://www.radware.com/ir/financial-info/ or by directing such request to the Company’s Investor Relations department at ir@radware.com.

If applicable, valid position statements will be published by way of issuing a press release and/or submitting a Form 6-K to the SEC (which will be made available to the public on the SEC’s website above and on the Company’s website).

About Radware
Radware® (NASDAQ: RDWR), is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection and availability services to enterprises globally. Radware’s solutions empower more than 12,500 enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity and achieve maximum productivity while keeping costs down. For more information, please visit www.radware.com.

The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

Media Contacts:
Deborah Szajngarten
Radware
201-785-3206
deborah.szajngarten@radware.com

Investor Relations:
Anat Earon-Heilborn
+972 723917548
ir@radware.com

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© GlobeNewswire 2020
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Financials (USD)
Sales 2020 249 M - -
Net income 2020 12,1 M - -
Net cash 2020 441 M - -
P/E ratio 2020 102x
Yield 2020 -
Capitalization 1 173 M 1 173 M -
EV / Sales 2020 2,94x
EV / Sales 2021 2,52x
Nbr of Employees 1 037
Free-Float 67,0%
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Number of Analysts 6
Average target price 27,80 $
Last Close Price 25,41 $
Spread / Highest target 18,1%
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Managers
NameTitle
Roy Zisapel President, Chief Executive Officer & Director
Yehuda Zisapel Chairman
Gabi Malka Chief Operations Officer
Doron Abramovitch Chief Financial Officer
David Aviv Chief Technology Officer
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