UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934
For the month of December 2024
(Report No. 4)
Commission file number: 001-41387
SaverOne 2014 Ltd.
(Translation of registrant's name into English)
Em Hamoshavot Rd. 94
Petah Tikvah, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
CONTENTS
On December 13, 2024, SaverOne 2014 Ltd. (the "Company") announced that it will hold its Extraordinary General Meeting of Shareholders (the "Meeting") on Sunday, January 19, 2025 at 3:00 p.m. (Israel time) at the Company's offices in Petah Tikva, Israel. In connection with the meeting, the Company furnishes the following documents:
- A copy of the Notice and Proxy Statement with respect to the Meeting of Shareholders describing the proposals to be voted upon at the Meeting, the procedure for voting in person or by proxy at the Meeting and various other details related to the Meeting, attached hereto as Exhibit 99.1;
- A form of Proxy Card whereby holders of ordinary shares of the Company may vote at the Meeting without attending in person, attached hereto as Exhibit 99.2; and
- A form of Voting Instruction Card whereby holders of American Depositary Shares ("ADSs") of the Company may vote at the Meeting without attending in person, attached hereto as Exhibit 99.3.
Only shareholders and holders of ADSs at the close of business on December 23, 2024, the record date, are entitled to notice of, and to vote at, the Meeting and any adjournment or postponement thereof.
This Report on Form 6-K is incorporated by reference into the Company's Registration Statements on Form F-3 (File No. 333-274458, 333-263338and 333- 269260) and FormS-8(File No. 333-274455), filed with the Securities and Exchange Commission, to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
1
EXHIBIT INDEX
Exhibit No.
- Notice and Proxy Statement with respect to the Company's Extraordinary General Meeting of Shareholders
- Proxy Card for holders of ordinary shares with respect to the Company's Extraordinary General Meeting of Shareholders
- Voting Instruction Card for American Depositary Share holders with respect to the Company's Extraordinary General Meeting of Shareholders
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SaverOne 2014 Ltd. | ||
Date: December 13, 2024 | By: /s/ Ori Gilboa | |
Name: Ori Gilboa | ||
Title: Chief Executive Officer | ||
3 |
Exhibit 99.1
NOTICE OF
THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS
TO BE HELD ON JANUARY 19, 2025
To the shareholders and ADS holders of SaverOne 2014 Ltd. (the "Company"):
Notice is hereby given that the Extraordinary General Meeting of Shareholders (the "Meeting") will be held on Sunday, January 19, 2025, at 3:00 p.m. Israel time at our offices, Em Hamoshavot Rd. 94, Petah Tikva, Israel.
The agenda of the Meeting will be as follows:
- To approve an increase of the Company's registered share capital from NIS 10,000,000 divided into 1,000,000,000 ordinary shares, par value NIS 0.01 each (the "Ordinary Shares") to NIS 50,000,000, divided into 5,000,000,000 Ordinary Shares, and to amend the Company's Articles of Association accordingly.
- To approve the division of the Board of Directors of the Company into staggered three-year terms and to amend the Company's Articles of Association accordingly.
Only shareholders and holders of ADSs at the close of business on December 23, 2024 (the "Record Date") are entitled to notice of, and to vote at, the Meeting and any adjournment or postponement thereof. You are cordially invited to attend the Meeting in person.
If you are unable to attend the Meeting in person, you are requested to complete, date and sign the enclosed proxy and to return it promptly in the pre- addressed envelope provided. Shareholders who attend the Meeting may revoke their proxies and vote their shares in person.
Beneficial owners who hold ordinary shares through members of the Tel Aviv Stock Exchange, or the TASE, may either vote their shares in person at the Meeting by presenting a certificate signed by the TASE Clearing House member through which the shares are held, which complies with the Israel Companies Regulations (Proof of Ownership for Voting in General Meetings)-2000 as proof of ownership of the shares on the Record Date, or send such certificate along with a duly executed proxy (in the form filed by us on MAGNA, the distribution site of the Israeli Securities Authority, at www.magna.isa.gov.il), to us at Em Hamoshavot Rd. 94, Petah Tikva, Israel 49130, Israel Attention: Chief Financial Officer.
By Order of the Board of Directors
/s/ Jacob Tenenbaum
Chairman of the Board
December 13, 2024
Em Hamoshavot Rd.
94, Petah Tikva,
Israel
PROXY STATEMENT
FOR EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS
TO BE HELD ON JANUARY 19, 2025
This Proxy Statement is furnished to our holders of Ordinary Shares, including holders of our Ordinary shares that are represented by American Depository Shares, or ADSs, in connection with the Extraordinary General Meeting of Shareholders (the "Meeting"), to be held on Sunday, January 19, 2025, at 3:00 p.m. Israel time at our offices, Em Hamoshavot Rd. 94, Petah Tikva, Israel, or at any adjournments thereof.
Throughout this Proxy Statement, we use terms such as "SaverOne", "we", "us", "our" and the "Company" to refer to SaverOne 2014 Ltd. and terms such as "you" and "your" to refer to our shareholders and ADS holders.
Agenda Items
The agenda of the Meeting will be as follows:
- To approve an increase of the Company's registered share capital from NIS 10,000,000 divided into 1,000,000,000 Ordinary Shares each to NIS 50,000,000, divided into 5,000,000,000 Ordinary Shares and to amend the Company's Articles of Association accordingly,
- To approve the division of the Board into staggered three-year terms and to amend the Company's Articles of Association accordingly.
We currently are unaware of any other matters that may be raised at the Meeting. Should any other matters be properly raised at the Meeting, the persons designated as proxies shall vote according to their own judgment on those matters.
Board Recommendation
Our Board of Directors (the "Board") unanimously recommends that you vote "FOR" each of the proposals on the agenda.
Who Can Vote
Only shareholders and ADS holders at the close of business on December 23, 2024, shall be entitled to receive notice of and to vote at the Meeting.
How You Can Vote
You can vote your ordinary shares by attending the Meeting. If you do not plan to attend the Meeting, the method of voting will differ for shares held as a record holder, shares held in "street name" (through a Tel Aviv Stock Exchange, or TASE, member) and shares underlying ADSs that you hold. Holders of ADSs (whether registered in their name or in "street name") will receive voting instruction cards in order to instruct their banks, brokers or other nominees on how to vote.
2
Shareholders of Record
If you are a shareholder of record, you can submit your vote by completing, signing and submitting an applicable proxy, which has been published at www.magna.isa.gov.il and www.maya.tase.co.il and which will be accessible at the "Investor Relations" portion of our website, as described below under "Shareholder Meetings".
Shareholders Holding in "Street Name," Through the TASE
If you hold ordinary shares in "street name," that is, through a bank, broker or other nominee that is admitted as a member of the TASE, your shares will only be voted if you provide instructions to the bank, broker or other nominee as to how to vote, or if you attend the Meeting in person.
If voting by mail, you must sign and date a proxy and attach to it a certificate signed by the TASE Clearing House member through which the shares are held, which complies with the Israel Companies Regulations (Proof of Ownership for Voting in General Meetings)-2000 as proof of ownership of the shares, as applicable, on the Record Date, and return the proxy, along with the proof of ownership certificate, to us, as described in the instructions available on
MAGNA.
If you choose to attend the Meeting (where ballots will be provided), you must bring the proof of ownership certificate from the TASE's Clearing House member through which the shares are held, indicating that you were the beneficial owner of the shares, as applicable, on the Record Date.
Holders of ADSs
Under the terms of the Deposit Agreement between the Company, The Bank of New York Mellon, as depositary, or BNY Mellon, and the holders of our ADSs, BNY Mellon shall endeavor (insofar as is practicable) to vote or cause to be voted the number of shares represented by ADSs in accordance with the instructions provided by the holders of ADSs to BNY Mellon. For ADSs that are held in "street name", through a bank, broker or other nominee, the voting process will be based on the underlying beneficial holder of the ADSs directing the bank, broker or other nominee to arrange for BNY Mellon to vote the ordinary shares represented by the ADSs in accordance with the beneficial holder's voting instructions. If no instructions are received by BNY Mellon from any holder of ADSs (whether held directly by a beneficial holder or in "street name") with respect to any of the shares represented by the ADSs on or before the date established by BNY Mellon for such purpose, BNY Mellon shall not vote or attempt to vote the shares represented by such ADSs.
Multiple Record Holders or Accounts
You may receive more than one set of voting materials, including multiple copies of this document or voting instruction cards. For example, shareholders who hold ADSs in more than one brokerage account will receive a separate voting instruction card for each brokerage account in which ADSs are held. You should complete, sign, date and return each voting instruction card you receive.
Our Board urges you to vote your shares so that they will be counted at the Meeting or at any postponements or adjournments of the Meeting.
3
Solicitation
Shareholders and ADS holders may vote at the Meeting whether or not they attend. If a properly executed proxy is received by us at least 48 hours prior to the Meeting (and received by BNY Mellon no later than the date indicated on the voting instruction card, in the case of ADS holders), all of the shares represented by the proxy shall be voted as indicated on the form or, if no preference is noted, shall be voted in favor of the matter described above, and in such manner as the holder of the proxy may determine with respect to any other business as may come before the Meeting or any adjournment thereof. Shareholders and ADS holders may revoke their proxy at any time before the deadline for receipt of powers of attorney by filing with us (in the case of holders of ordinary shares) or with BNY Mellon (in the case of holders of ADSs), a written notice of revocation or duly executed proxy bearing a later date. Proxies are being distributed to shareholders and ADS holders on or about December 17, 2024. Certain officers, directors, employees, and agents of ours, none of whom will receive additional compensation therefor, may solicit proxies by telephone, emails, or other personal contact. We will bear the cost for the solicitation of the proxies, including postage, printing, and handling, and will reimburse the reasonable expenses of brokerage firms and others for forwarding material to beneficial owners of shares and ADSs.
To the extent you would like to submit a position statement with respect to the proposals described in this proxy statement pursuant to the Companies Law, you may do so by delivery of appropriate notice to our offices (Attention: Chief Financial Officer) located at Em Hamoshavot Rd. 94, Petah Tikva, 49130, Israel, not later than ten days before the Meeting. Response of the board to the position statement may be submitted not later than five days before the Meeting.
Quorum
At the close of business on December 13, 2024, we had outstanding 246,533,076 Ordinary Shares. Each Ordinary Share (including Ordinary Shares represented by ADSs) outstanding as of the close of business on the Record Date is entitled to one vote upon each of the matters to be voted on at the Meeting.
Under our Articles of Association, the Meeting will be properly convened if at least two shareholders attend the meeting in person or sign and return proxies, provided that they hold shares representing at least 25% of our voting power. If such quorum is not present within half an hour from the time scheduled for the Meeting, the Meeting will be postponed to the following week, on the same day, time and place, and the agenda for which the first meeting was called will be discussed at the postponed meeting. If there is no quorum at the postponed meeting by the end of half an hour from the date called for the Meeting, the postponed Meeting shall be held with the presence of any number of participants whatsoever. No further notice will be given or publicized with respect to such adjourned meeting. At the reconvened meeting, if there is no quorum within half an hour from the time scheduled for the meeting, any number of our shareholders present in person or by proxy shall constitute a lawful quorum.
Vote Required for Each Proposal
The affirmative vote of the holders of a majority of the voting power present at the Meeting in person or by proxy and voting thereon is necessary for the approval of all the Proposals on the Meeting's agenda.
Under the Companies Law, in general, you will be deemed to be a controlling shareholder if you have the power to direct our activities, otherwise than by reason of being a director or other office holder of ours, if you hold 50% or more of the voting rights in our Company or have the right to appoint the majority of the directors of the Company or its chief executive officer, and you are deemed to have a personal interest if any member of your immediate family or their spouse has a personal interest in the adoption of the proposal. In addition, you are deemed to have a personal interest if a company, other than SaverOne, that is affiliated to you has a personal interest in the adoption of the proposal. Such company is a company in which you or a member of your immediate family serves as a director or chief executive officer, has the right to appoint a director or the chief executive officer, or owns 5% or more of the outstanding shares. However, you are not deemed to have a personal interest in the adoption of the proposal if your interest in such proposal arises solely from your ownership of our shares, or to a matter that is not related to a relationship with a controlling shareholder.
In the proxy card and voting instruction card attached to the proxy statement you will be asked to indicate whether you have a personal interest with respect to the proposal. If any shareholder casting a vote in connection hereto does not notify us whether or not they have a personal interest with respect to the proposal, their vote with respect to the proposal will be disqualified.
If you provide specific instructions (mark boxes) with regard to certain proposals, your shares will be voted as you instruct. If you sign and return your proxy card or voting instruction form without giving specific instructions, your shares will be voted in accordance with the recommendations of our Board. The proxy holders will vote in their discretion on any other matters that properly come before the meeting.
If you are a shareholder of record and do not return your proxy card, your shares will not be voted. If you hold shares (or ADSs representing shares) beneficially in street name, your shares will also not be voted at the meeting if you do not return your proxy card or voting instruction card to instruct your broker or BNY Mellon how to vote. A broker (and BNY Mellon) may only vote in accordance with instructions from a beneficial owner of shares or ADSs.
4
Availability of Proxy Materials
Copies of the applicable proxy card and voting instruction card, the Notice of the Extraordinary General Meeting of Shareholders and this Proxy Statement are available at the "Investor Relations" portion of our website, www.saver.one. The contents of that website are not a part of this Proxy Statement.
Reporting Requirements
We are subject to the information reporting requirements of the Securities Exchange Act of 1934, as amended, or the Exchange Act, applicable to foreign private issuers. We fulfill these requirements by filing reports with the Securities and Exchange Commission, or Commission. Our filings with the Commission may be inspected without charge at the Commission's Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. Information on the operation of the Public Reference Room can be obtained by calling the Commission at 1-800-SEC-0330. Our filings are also available to the public on the Commission's website at http://www.sec.gov.
As a foreign private issuer, we are exempt from the rules under the Exchange Act related to the furnishing and content of proxy statements. The circulation of this notice and proxy statement should not be taken as an admission that we are subject to the proxy rules under the Exchange Act.
PROPOSAL 1
Background
Our Articles of Association (the "Articles") provides that the Company's registered share capital is NIS 10,000,000 divided into 1,000,000,000 ordinary shares, par value NIS 0.01 each. The Board believes that increasing the Company's registered share capital would afford the Company greater flexibility in raising additional funds, use its share capital as currency for potential transactions and will incentivize its employees. Accordingly, on December 12, 2024, the Board adopted the resolution by unanimous written consent, and recommended that the shareholders approve a proposal, to increase the Company's registered share capital from NIS 1,000,000 divided into 1,000,000,000 Ordinary Shares each to NIS 50,000,000, divided into 5,000,000,000 Ordinary Shares. If approved by shareholders, we will amend the Articles accordingly using the form of Amended and Restated Articles, annexed hereto as Exhibit A.
Proposed Resolutions
It is proposed that at the Meeting the following resolutions be adopted:
"RESOLVED, that the Company is authorized to increase the Company's registered share capital from NIS 10,000,000, divided into 1,000,000,000 Ordinary Shares each to NIS 50,000,000, divided into 5,000,000,000 Ordinary Shares (the "Increase of Share Capital"), and to amend the Articles as set forth in the form of Amended and Restated Articles, annexed hereto as Exhibit A,
Required Vote
Under the Companies Law and our Articles, the affirmative vote of the holders of a majority of the Ordinary Shares represented at the Meeting, in person or by proxy, entitled to vote and voting on the Increase of Share Capital.
For this purpose, you are asked to indicate on your proxy card or voting instruction card whether you have a personal interest in the re-election of the external director. Under the Companies Law, in general, you are deemed to have a personal interest if any member of your immediate family or their spouse has a personal interest in the adoption of the proposal. In addition, you are deemed to have a personal interest if a company, other than SaverOne, that is affiliated to you has a personal interest in the adoption of the proposal. Such company is a company in which you or a member of your immediate family serves as a director or chief executive officer, has the right to appoint a director or the chief executive officer, or owns 5% or more of the outstanding shares. However, you are not deemed to have a personal interest in the adoption of the proposal if your interest in such proposal arises solely from your ownership of our shares, or to a matter that is not related to a relationship with a controlling shareholder.
5
Board Recommendation
Our Board recommends a vote FOR the Increase of Share Capital.
PROPOSAL 2:
Background
At the Meeting, you will be asked for an approval to divide our Board into three (3) classes with staggered three-year terms (the "Staggered Board Proposal"), and to amend the Articles accordingly.
Our Board believes that given our current position, it is important to ensure that the Board has the tools to promote our interests and our shareholders' interests in the long-term. Accordingly, on December 12, 2024, our Board approved, and recommended to our shareholders to approve the Staggered Board Proposal, to divide the Board into three classes with staggered three-year terms.
Under our Articles, we must have at least three (3) directors and may have no more than 12 directors, including the legally required number of external directors. Our Board currently consists of five directors, including two directors who are deemed external directors per the requirements of the Companies Law. Under our Articles, directors may be selected only in annual general meetings of our shareholders. Every director so selected shall serve until the following annual general meeting of our shareholders. Notwithstanding anything to the contrary, each director shall serve until his or her successor is elected and qualified or until such earlier time as such director's office is vacated.
If the Staggered Board Proposal is approved at the Meeting, then at each annual meeting of our shareholders, the election or re-election of directors following the expiration of the term of office of the directors of that class of directors will be for a term of office that expires on the third annual general meeting following such election or re-election, such that from the annual meeting of 2025 and after, each year the term of office of only one class of directors will expire.
If the Staggered Board Proposal is approved at the Meeting, we will amend our Articles using the form of Amended and Restated Articles, annexed hereto as Exhibit A, to reflect that our Board, will be divided among the three classes as follows:
Yaron Beeri will be classified as a Class Idirector and his term will expire at our annual meeting of shareholders to be held in 2025;
Ori Gilboa will be classified as a Class IIdirector and his term will expire at our annual meeting of shareholders to be held in 2026; and
Jacob Tenenboim will be classified as a Class IIIdirector, and his term will expire at our annual meeting of shareholders to be held in 2027.
Further, we will reflect in our Amended and Restated Articles that (i) directors may only be elected at the Company's annual shareholders' meeting, (ii) a director may not be dismissed from office by shareholders or at a shareholders' meeting prior to the expiration of their term of office under the staggered board provisions, (iii) any shareholder of the Company who intends to present a proposal at a shareholders' meeting must satisfy the requirements of the Israeli Companies Law and must meet certain additional requirements, as will be set forth in the proposed Amended and Restated Articles, and (iv) an affirmative vote of 65% of the voting power represented at a general meeting and voting thereon, disregarding abstentions from the count of the voting power present and voting, provided that the quorum is not less than 20% of the Company's then issued and outstanding share capital, is required to amend Amended and Restated Articles, with respect to the provisions relating to the staggered board, dismissal and the provisions relating to shareholder proposals.
6
Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |
Attachments
- Original document
- Permalink
Disclaimer
SaverOne 2014 Ltd. published this content on December 14, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on December 14, 2024 at 16:00:02.210.