Shareholders' meeting

The powers of shareholders' meetings set forth by Israeli law are as follows:

• Amendment of the articles of association.
• Appointment of the company's auditors.
• Appointment of the external members of the board of directors.
• Increase or decrease in capital.
• Mergers.
• Authorization of sensitive deals (conflict of interest, not in regular course of business..).

Shareholders' meetings are held at least once a year.

In private companies, meetings may be held by video or audio conferences. A decision may also be taken in writing with the unanimous consent of the shareholders.