Evogene calls shareholder vote on Pure Capital nominees to reconstitute board under cooperation deal
EVGN•Evogene reached a cooperation deal with activist investor Pure Capital Group, which includes a shareholder vote on four Pure Capital nominees and a 60-day standstill. The agreement would shift the board to a 4-3 split if shareholders approve the nominees.
1. Board changes proposed
Two Evogene directors have resigned and been replaced by Pure Capital nominees, subject to shareholder approval within 42 days. Shareholders will also vote on two additional Pure Capital nominees to replace two outgoing directors, which would give Pure Capital a 4-3 board split.
2. Terms of the deal
The agreement settles disputes tied to the Sept. 4 shareholder meeting vote. Pure Capital withdrew its notice of a planned special tender offer and accepted a 60-day standstill, while Evogene paused share issuance except for routine employee grants.
