Business Context and Reporting Period
This Form 6-K filing by Safe-T Group Ltd. (not Alarum Technologies Ltd.) covers the month of September 2021. The report details the results of the Annual and Extraordinary General Meeting of Shareholders held on September 19, 2021. The filing does not contain financial statements, revenue data, or operational metrics for the period.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a corporate governance report regarding shareholder voting outcomes rather than a financial performance report.
Material Changes and Voting Results
Shareholders voted on ten proposals. The following material changes were approved:
- Auditor Re-appointment: PwC Israel was re-appointed as the independent auditor for the year ending December 31, 2021.
- Director Re-election: Mr. Shachar Daniel and Mr. Moshe Tal were re-appointed as Class II directors for three-year terms.
- Equity Compensation: Options to purchase Ordinary Shares were granted to Mr. Chen Katz, Mr. Yehuda Halfon, Ms. Rakefet Remigolski, Mr. Moshe Tal, and Mr. Shachar Daniel.
- Executive Remuneration: 2021 objectives and remuneration were approved for CEO Mr. Shachar Daniel and Chairman Mr. Chen Katz.
- Reverse Stock Split: The ratio between Ordinary Shares (TASE) and ADSs (Nasdaq) was approved to change from 40:1 to 1:1, resulting in a reverse split of Ordinary Shares. This change does not affect the number of ADSs.
The following proposals were not approved:
- Increases to per-meeting and annual fees for Non-Executive Directors.
- Updates to the compensation terms for Mr. Amir Mizhar.
- A Maximum Annual Bonus Plan for CEO Mr. Shachar Daniel.
- A Special Bonus for CEO Mr. Shachar Daniel.
- A special bonus for Mr. Barak Avitbul, Privacy Business Unit Manager.
Guidance, Outlook, and Risks
The filing does not contain management commentary on future guidance, outlook, risks, contingencies, or unusual items. The document is limited to the procedural results of the shareholder meeting.
Investor Verification Checklist
- Verify the implementation date and mechanics of the 40:1 to 1:1 reverse stock split for Ordinary Shares.
- Confirm the specific terms of the stock options granted to directors and executives.
- Review the approved 2021 remuneration objectives for the CEO and Chairman to understand performance incentives.
- Note that proposals to increase director fees and approve specific bonuses for the CEO and Privacy Manager were rejected by shareholders.