Tefron Ltd a leading producer of seamless intimate apparel and engineered-for-performance active wear, announced that at shareholders meeting, a majority of the shareholders voted in favor of the proposal to approve a second three-year term for Mr. Yacov Elinav as an "external director" under the Israeli Companies Law.
However, the majority did not include the votes of at least one-third (1/3) of the total votes of shareholders who are not "controlling shareholders", as required under the Israeli Companies Law, and therefore the proposal did not pass.
marketing@alchempro.com
