Mer Telemanagement Solutions Ltd. (NASDAQ: MTSL) has announced plans to hold an extraordinary shareholder’s general meeting on July 21, 2021, at Ephraim Abramson & Co. Law Offices in Tel Aviv to approve a merger and related transactions with SharpLink Inc.
AGM to discuss merger consummation
The meeting’s agenda is approving the consummation of the merger transaction and other transactions that include preferred shares, ordinary shares, warrants, and options to buy ordinary shares at the time of the transaction to SharpLink securityholders. Share issuance will also include issuance to SportHub Games Network Inc., the largest SharpLink shareholder, which will have 45% voting rights if the merged company.
Also, Chris Nicholas, Rob Phythian, Paul Abdo, Thomas Doering, and Joseph Housman will be elected as designated SharpLink nominees to the company’s board of directors for the term expiring at the 2021 Annual General Meeting until successors are elected and approved. Equally, Scott Pollei and Adrienne Anderson will be elected as the designated SharpLink nominees as outside directors for a three-year term that will commence immediately after the transaction is approved.
Meeting to approve COO and CEO compensation of the merged company
Similarly, the shareholders will approve an updated compensation policy applicable to the merged company after completing the transaction. Also, the meeting will approve Rob Phythian’s compensation terms as the CEO of the combined company and Chris Nicholas, who will be the COO of the merged company.
The annual general meeting seeks to also approve the adoption of a new SharpLink2021 Equity Incentive plan plus the reservation of around 4.67 million ordinary shares for issuance. Only shareholders that will be on record as of the close of business on June 21, 2021, will be entitled to notice and vote during the meeting.