ANSON FUNDS TO VOTE FOR ALL SHAREHOLDER NOMINEES AND PROPOSALS AT NANO DIMENSION'S UPCOMING ANNUAL GENERAL MEETING

Rhea-AI Summary

Anson Funds, the largest shareholder of Nano Dimension (NNDM), has announced its voting intentions for the company's upcoming Annual General Meeting on December 6, 2024. The fund plans to vote FOR all shareholder nominees and a proposal to declassify the Board of Directors, while voting AGAINST the re-election of incumbent board members, including CEO Yoav Stern, and his compensation package. Anson Funds criticizes the current Board for insufficient oversight of Stern's acquisitions of cash-burning entities and poor performance track record.

Positive

• None.

Negative

• Major shareholder expresses lack of confidence in current management
• Criticism of CEO's acquisition strategy of cash-burning entities
• Poor performance track record highlighted by largest shareholder
• Concerns over CEO's compensation package deemed 'egregious'
• Ongoing value destruction cited by major investor

News Market Reaction

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-3.69% News Effect

On the day this news was published, NNDM declined 3.69%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Intends to vote FOR shareholder nominees and AGAINST re-election of incumbents, including Nano Dimension CEO Yoav Stern

Intends to vote FOR shareholder proposal to declassify Nano Dimension Board of Directors

Intends to vote AGAINST CEO Stern's egregious compensation package

TORONTO, Nov. 15, 2024 /PRNewswire/ -- Anson Advisors Inc. and Anson Funds Management LP, the co-investment advisers of several investment funds (collectively, the "Anson Funds"), the largest shareholder of Nano Dimension Ltd. ("Nano Dimension" or the "Company") (Nasdaq: NNDM), today announced its intention to vote FOR all shareholder nominees and a shareholder proposal to declassify the Board of Directors at Nano Dimension's upcoming 2024 Annual General Meeting of Shareholders to be held on December 6, 2024. Anson Funds also intends to vote AGAINST Nano Dimension CEO Yoav Stern's egregious compensation package. 

Anson Funds continues to believe that the incumbent Board of Directors has failed to provide sufficient oversight over Mr. Stern, allowing him to continue acquiring cash-burning entities despite a track record of poor results. Following a thorough review of the Company's proxy materials, as well as those published by the dissident, we believe a refreshed Board with independent directors combined with the proposed governance enhancements represent a critical first step to ending the persistent and ongoing value destruction at Nano Dimension.

About Anson Funds

Anson Funds is a privately held alternative asset manager with over US$2 billion in assets. Led by Chief Investment Officer Moez Kassam, the firm was founded in 2007 with offices in Toronto and Dallas.

Media Contact

Taylor Ingraham
ASC Advisors
tingraham@ascadvisors.com
1-203-992-1230

View original content:https://www.prnewswire.com/news-releases/anson-funds-to-vote-for-all-shareholder-nominees-and-proposals-at-nano-dimensions-upcoming-annual-general-meeting-302306692.html

SOURCE Anson Funds

FAQ

What is Anson Funds voting position for Nano Dimension's (NNDM) 2024 Annual General Meeting?

Anson Funds will vote FOR all shareholder nominees, FOR the proposal to declassify the Board of Directors, and AGAINST CEO Yoav Stern's compensation package and the re-election of incumbent board members.

When is Nano Dimension's (NNDM) 2024 Annual General Meeting?

Nano Dimension's 2024 Annual General Meeting is scheduled for December 6, 2024.

Why is Anson Funds voting against Nano Dimension's (NNDM) current management?

Anson Funds believes the incumbent Board has failed to provide sufficient oversight over CEO Stern, who continues acquiring cash-burning entities despite poor results, leading to ongoing value destruction.