KADIMA-TZORAN, Israel, May 13, 2019 /PRNewswire/ — Eviation Aircraft Ltd. announced that at its Special General Meeting of the Shareholders held at the Company’s offices on Monday, May 6, 2019, the following resolutions were adopted:

1. To approve the issuance of Ordinary Shares of no par value to the controlling shareholder of the Company, and that the purchase of such shares shall be deemed a private placement for the purpose of enabling the controlling shareholder to acquire at least forty-five percent (45%) of the voting power in the Company without requiring a special tender offer, in accordance with Section 328(b)(1) of the Israeli Companies Law.
2. To approve an amendment of the Company’s Articles of Association (the “Articles“).
3. To approve the repayment of certain outstanding amounts owing from the Company to its shareholders.
4. To approve the payment of compensation to certain of the Company’s officers and directors.
5. To approve a grant of options to a director of the Company.

About Eviation Aircraft

Eviation Aircraft Ltd. is developing and manufacturing efficient electric aircraft in an effort to make electric aviation a fast, competitive, and sustainable answer to the on-demand mobility of people and goods. Its distributed propulsion, high-energy density batteries, mission-driven energy management, and new airframe are designed from the ground up to maximize these technological advances for regional flight operators. Eviation is a member of NASA’s on-demand mobility program, and serves on the electric aviation committees of the General Aviation Manufacturers’ Association (GAMA) and the U.S. Federal Aviation Administration (FAA). Please visit us at www.eviation.co.

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SOURCE Eviation Aircraft Ltd.