Pure Capital Ltd. Expands Ownership Stake in Medigus Ltd. (NASDAQ: MDGS) (TASE: MDGS), Seeks Dismissal of Internal Board Members

August 1, 2018 13:33:58
  • In accordance with Israeli regulations, demand letter has been sent to MDGS and meeting of company shareholders must be held within 21 days of letter’s date
  • Pure Capital Ltd. says that it is committed to raising MDGS shareholder value through the process of replacing internal members of the board of directors
  • Replacement nominees are led by Professor Benad Goldwasser, a urological surgeon, inventor and entrepreneur; all nominees have been vetted, according to Pure Capital

Privately-held investment firm Pure Capital Ltd. yesterday announced that it has acquired 217,696 ADRs of Medigus Ltd. (NASDAQ: MDGS) (TASE: MDGS), bringing its total ownership stake to greater than five percent of the Israeli medical device company (http://nnw.fm/Al6uN). In accordance with Israeli regulations, Pure Capital has sent a letter to Medigus’ CEO, board chairman and board of directors seeking an immediate general assembly meeting of the MDGS shareholders and the dismissal of its internal members of the board.

In the letter, Pure Capital details a number of recent corporate actions that it believes have been harmful to the company’s shareholders. They include continual…

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