DD Goldstein files claim against SimiGon over court appeal

Simulation technology company SimiGon announced on Friday that, further to the court ruling in relation to the legal action filed by DD Goldstein Real Estates and Investment in June, DD Goldstein has filed a claim against it in connection with its appeal.

SimiGon had filed an appeal against the ruling to the Supreme Court of Israel on 4 October.

The AIM-traded firm said the June ruling was in relation to prerogative relief sought concerning resolutions approved at SimiGon’s annual general meeting in December 2019, regarding the appointment of directors and the determination of their compensation as announced in January 2020.

On 25 October, DD Goldstein filed a claim against the company in connection with the appeal.

“The company is studying the claim together with its legal advisers and will respond accordingly to the court,” the board said in its statement.

“The company continues not to foresee any potential financial penalties to the company even if the court were to decide that the claim has merit.

“The company has notified its insurers with respect to the appeal and the claim.”

At 0847 GMT, shares in SimiGon were flat at 4.75p.