ITEM 5.02 - DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS.
On November 16th, 2021, the Board of Directors (the "Board") increased the size
of the Board to five (5) members, and appointed Mr. Shaul Yemal to the Board as
an Independent Director and as a member of the Audit Committee.
Mr. Yemal will receive the same compensation from the Company as the other
non-employee members of the Board of Directors.
Mr. Yemal, 75, brings decades of transnational management and finance
experience. Previously Mr. Yemal served as Senior Economist in the Division of
Economic Consulting for the Ministry of Finance, Budget Division of the Minister
of Finance and Manager of the Economic and Planning Division of the Ministry of
Energy (Israel). Mr. Yemal was acting Chair of Financial, Auditor and
Compensation Committees for numerous companies both public and private. Mr.
Yemal was CEO of ICL in Santiago, Chile, Senior VP of Business Development for
ISAL Amlat VC Fund and was responsible for their IPO in the Tel Aviv stock
exchange; Senior VP Corporate Manager and Board Member of Oridion Medical, and
catalyst for their successful IPO on the Swiss stock exchange.
There are no arrangements or understandings between Mr. Yemal and any other
person pursuant to which Mr. Yemal was selected as a director. Mr. Yemal is not
a participant in any related party transactions required to be disclosed
pursuant to Item 404(a) of Regulation S-K.
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