Rosh Ha’ain, Israel, July 09, 2018 (GLOBE NEWSWIRE) -- The following resolutions were adopted:

1. To elect Ms. Amira Paz, Mr. Shai Beilis, Mr. Menahem Shalgi and Mr, Eyal Shalom, to the Company’s Board of Directors, to serve until the next annual general meeting of shareholders and until their successors have been duly elected and qualified. 2. To re-elect Mr. Amir Livne for a fourth term as an external director, to hold office for 3 years, commencing the date of his re-election. 3. To approve a new conversion rate of Company’s Preferred Shares and effect the corresponding amendment to the Company’s Memorandum of Association and Articles of Association. 4. To approve an amendment to the Convertible Loan Agreement with the Company’s controlling shareholder, Formula Ventures (Holdings) Ltd., and other certain lenders. 5. To approve the reverse split of the Company's Ordinary Shares, nominal value NIS 0.01 (at 500:1 ratio) and share reclassification, and effect the corresponding amendments to the Company’s Memorandum of Association and Articles of Association. 6. To approve an increase of the pool of Company’s Ordinary Shares reserved for issuances under the Company’s share incentive plans. 7. To approve an amendment to the Company’s Key Employee Share Incentive Plan (1996), as amended. 8. To approve a new Compensation Policy of the Company. 9. To approve the Management Services Agreement with the affiliate of the Company’s controlling shareholder, Formula Ventures Ltd. 10. To approve the reimbursement of legal expenses to Company’s controlling shareholder, Formula Ventures (Holdings) Ltd. 11. To approve the compensation plan of the Company’s directors (excluding executive and external directors). 12. To approve the compensation plan of the Company’s CEO including the grant of options to purchase Company’s Ordinary Shares. 13. To reappoint Kost, Forer, Gabbay, and Kasierer, a member of Ernst & Young International Ltd., as the Company’s Independent Auditors, for the years ending December 31, 2016 and December 31, 2017 and for such additional period until the next annual general meeting of shareholders.

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