Pure Capital Announces Over 5% Ownership of Medigus Ltd. and Demands to Replace the Board of Directors

RAMAT GAN, ISRAEL / ACCESSWIRE / July 31, 2018 / Pure Capital announced today that it has completed the acquisition of 217,696 ADR’s of Medigus Ltd (MDGS) and now holds more than five percent of the company.

Upon the acquisition, and in accordance with Israeli regulations, Pure Capital sent a letter to Medigus’ Chief Executive Officer, Chairman of the board and the directors, calling for an immediate general assembly meeting of the shareholders of Medigus and the dismissal of the internal members of the board. The replacement nominees, led by Professor Benad Goldwasser, have been carefully vetted and were selected following a thorough due diligence process. Prof. Goldwasser is a urological surgeon, inventor, entrepreneur, venture capital investor and co-founder of Medinol Ltd., Israel’s most successful medical device Company, dedicated to the science of cardiovascular intervention.

In the letter, Pure Capital detailed previous actions by the Company’s management and board which have been harmful to shareholders including continual capital consolidations and capital raises under unfavorable terms. Furthermore, Pure Capital has requested that Medigus not execute disposition of the assets of the company, attempt to raise capital, or make public or private offerings until the meeting. Pure Capital is committed to fully replacing the internal members of the Board of Directors and substantially enhancing shareholder value in the process. The meeting is expected to be scheduled within the week.

Pure Capital Ltd. is a privately-owned investment company. Over the last two years, the firm has led various transactions and capital raises totaling over $200 million in the U.S, Canada and Israel.

Medigus (MDGS) is a medical device company specializing in developing minimally invasive endosurgical tools and highly innovative imaging solutions. Medigus is the pioneer developer of the MUSE™ system, an FDA-cleared and CE marked endoscopic device to perform Transoral Fundoplication (TF) for the treatment of GERD (gastroesophageal reflux disease), one of the most common chronic conditions in the world.

Contact Info:

Victor Tshuva, Victor Tshuva & Co Law Office
Tel: 011-972- 36138484
victor@vtlaw.co.il

SOURCE: Pure Capital Ltd.

ReleaseID: 507431