Engaged in advancing innovative solutions for large-scale market applications
Tel Aviv, Israel, Sept. 08, 2022 (GLOBE NEWSWIRE) — Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies, and electric vehicle and charging solutions, announced today that the Company filed a motion with the Tel Aviv District Court Economic Department for approval of a dividend distribution up to of $1.6 million.
The Company’s motion, if approved as requested, would permit the Company to distribute a dividend to the holders of the Company’s American Depositary Shares in proportion to their respective holdings. A separate announcement would be made if the Company’s board of directors were to declare such a dividend.
Medigus is seeking a court approval for a dividend distribution (as opposed to a share buyback) in light of various legal restrictions that nullified its ability to buy back its shares under a previous court approval for a buyback.