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Xylo Technologies Ltd. announced Monday that the Tel Aviv district court has approved the arrangement between the company and its shareholders. The arrangement, previously approved by shareholders on May 27, 2025, will result in Xylo becoming a wholly-owned subsidiary of L.I.A. Pure Capital Ltd.
Following the court's approval on June 22, Xylo has 180 days to complete the transaction. Upon consummation, L.I.A. Pure Capital will purchase all outstanding shares it doesn't already own, leading to the delisting of Xylo's American Depositary Shares from the Nasdaq Stock Exchange and termination of its public company obligations.
The arrangement was approved under Section 350 of the Israeli Companies Law. Xylo stated it will provide shareholders with updates on the closing timeline and additional procedures as more information becomes available.
Xylo Technologies, formerly known as Medigus Ltd., is headquartered in Tel Aviv, Israel. The company operates in the computer processing and data preparation services sector.
This information is based on a Form 6-K SEC filing submitted by Xylo Technologies on June 23, 2025.
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