TEL AVIV - Nexxen International Ltd. (AIM/NASDAQ: NEXN), a global ad tech platform known for its data and advanced TV capabilities, announced today that its Annual General Meeting (AGM) resolutions were all passed with strong shareholder support. Key decisions included the cancellation of its AIM trading, a reverse stock split, and executive compensation changes.
The AGM, which took place earlier today, saw nearly unanimous approval for the cancellation of the trading of the company's ordinary shares on the AIM market, with over 99% of votes in favor. Additionally, a reverse share split at a 2-for-1 ratio was approved, as well as amendments to company articles and the re-election of multiple non-executive directors with high approval rates.
Nexxen's shareholders also voted to remove certain provisions from the company's articles of association and to implement changes to the CEO compensation package and the company's Remuneration Policy for Directors and Executives. These resolutions received slightly lower approval rates, with the CEO compensation package approved by 92.91% of the votes cast, which included votes by a person with a personal interest in the item as defined by the Israeli Companies Law.
The re-appointment of Somekh Chaikin, a member firm of KPMG International, as the company's independent external auditor was approved with 99.90% of votes in favor.
The company's share reserve for its Global Share Incentive Plan (2011) and 2017 Equity Incentive Plan saw an increase approved by shareholders, with 97.28% voting in favor.
Nexxen, headquartered in Israel, operates a demand-side platform (DSP) and supply-side platform (SSP) with the Nexxen Data Platform at its core. The company aims to provide advertisers, agencies, publishers, and broadcasters around the world with the tools to effectively utilize data and advanced TV.
The AGM results reflect the shareholders' support for the company's strategic decisions and the direction of its board. The information for this report is based on a press release statement from Nexxen International Ltd.
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