Max Stock Limited Reports Successful General Meeting Outcomes
Max Stock Limited Reports Successful General Meeting Outcomes
Max Stock Limited (TASE: MAXO) has recently held a pivotal general meeting where significant decisions were made, all of which were met with overwhelmingly positive responses from shareholders. This gathering, focused on crucial agenda items, marks an important step for the company as it continues to navigate its operations in a competitive market.
Key Agenda Items Approved by Shareholders
During the meeting, the shareholders voted in favor of several key resolutions essential for the company's direction. The first approved item was the reappointment of Ernst & Young Israel - Kost Forer Gabbay & Kasierer as the company’s auditors, securing their services until the next annual general meeting. This move ensures that financial oversight complies with corporate governance standards.
Board of Directors Reappointments
Another crucial decision was the reappointment of existing board members, ensuring continuity in governance. Reappointed directors include:
- Ms. Zehavit Cohen;
- Mr. Ori Max;
- Mr. Erez Nahum;
- Ms. Limor Brik-Shay;
- Mr. Guy Gissin;
- Ms. Suzan Mazzawi, who serves as an independent director.
These leaders are expected to continue driving the company's strategic initiatives and operational policies.
Management and Consulting Services Agreement
Additionally, shareholders approved the extension of the management and consulting services agreement with Moose Holdco Ltd., one of the controlling shareholders. This agreement has been renewed for an additional three-year term, ensuring stability in leadership and strategic oversight.
Updated Remuneration Policy
In a move to align executive compensation with performance, the meeting also saw the approval of an amended remuneration policy. This new policy is set to take effect shortly, aligning with the company’s goals and market conditions.
Indemnity and Release Letters for Officers and Directors
Furthermore, Max Stock Limited obtained shareholder approval for extending letters of indemnity to various officers related to the controlling shareholders. This ensures that directors and key management are supported should any legal risks arise. Similarly, letters of release were discussed for related directors, reinforcing the company’s commitment to protecting its leadership team.
Importance of Shareholder Engagement
Max Stock Limited understands the importance of shareholder involvement in its governance structure. The approval of these resolutions showcases a collaborative approach between the management team and its shareholders, focusing on transparency and accountability.
About Max Stock
Max Stock is recognized as Israel’s leading extreme value retailer, with a presence in 64 locations across the country. The company prides itself on providing a wide range of quality products at affordable prices, appealing to a diverse customer base. The commitment to helping customers 'Dream Big, Pay Small' underscores its mission to make quality shopping accessible to everyone.
For further inquiries and detailed information regarding their operations and offerings, customers can reach out to the company contacts listed below.
Company Contacts
Talia Sessler,
Chief Corporate Development and IR Officer
For enquiries, please contact via email.
Frequently Asked Questions
What was the outcome of Max Stock's recent general meeting?
The recent general meeting resulted in the approval of various key agenda items, including board member reappointments and management agreement extensions.
Who were reappointed to the board of directors?
The board reappointments included Ms. Zehavit Cohen, Mr. Ori Max, and several other integral members, ensuring continuity in leadership.
What changes were made to the remuneration policy?
The meeting approved an amended remuneration policy aimed at aligning executive pay with performance metrics over the next term.
How does Max Stock support its management and directors?
Max Stock extends letters of indemnity and release to its officers and directors, ensuring protection from legal risks associated with their roles.
What is Max Stock's mission?
Max Stock aims to provide everyday quality products at affordable prices, encouraging customers to dream big while paying small.
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