Unanimous trust in Tera Light: Shareholders approve related-party transaction and new compensation policy unanimously

At the annual meeting, Tera Light's shareholders gave full backing to management and the board, with 100% public support for approving an indemnity letter for the controlling shareholder's partner.

Tera Light held an annual general meeting where all agenda items were approved. The most prominent were the approval of a new compensation policy with 99.1% public support, and the approval of a related-party transaction—the extension of an indemnity letter to Director Eran Greifel, partner of the controlling shareholder—with 100% public support.

Renewable energy company Tera Light Ltd. received an overwhelming expression of trust from its shareholders at the annual and special general meeting held on October 4. All resolutions on the agenda were approved by a decisive majority, including sensitive compensation policy issues and a related-party transaction, which won nearly unanimous support and, in one instance, 100% support from minority shareholders.

The meeting, which recorded high participation of about 74.6% of voting rights holders (approx. 58.87 million shares out of a total of approx. 78.92 million), ensured stability and continuity in the company's leadership. All serving board members were re-elected for an additional term, led by Chairman Ionel Cohen. In addition, the re-appointment of accounting firm Kost Forer Gabbay & Kasierer (EY) as the company's auditor was approved.

Unprecedented support for related-party transaction

The highlight of the meeting was the vote on approving the extension of the validity of indemnity and exemption letters granted to Mr. Eran Greifel, who serves as a director of the company. According to the filing, Mr. Greifel is the partner of Ms. Tali Greifel, one of the company's controlling shareholders, and therefore the move was defined as a related-party transaction requiring a special majority among shareholders who do not have a personal interest.

The results were unequivocal: the resolution was approved with 100% support from all voters included in the vote count (approx. 58.87 million shares). Unusually, among public shareholders with no personal interest, 100% support was also recorded (approx. 19.73 million shares), with zero opponents. This outcome signals full investor confidence in Tera Light's corporate governance and the board's judgment, even on matters concerning controlling shareholders.

Green light for the new compensation policy

Another significant item requiring a special majority was the renewal and update of the company's compensation policy. The new policy, approved for a three-year period, also won broad support. Out of all voters, 99.7% voted in favor (approx. 58.7 million shares) and only 0.3% opposed (approx. 179.5 thousand shares).

A review of the public vote required to approve the move reveals a similar picture: 99.09% of shareholders without a personal interest supported the policy (approx. 19.55 million shares), while the opposition rate stood at less than a single percent (0.91%). The rate of opponents out of all voting rights holders in the company stood at only 0.23%. Approval of the policy by such a large majority ensures industrial peace for the company on the compensation front for the next three years and indicates investor satisfaction with the presented structure.

The remaining items at the meeting, which included a discussion of the 2025 financial statements and the re-appointment of directors Aharon Kalman, Yoav Shimon Kramer, Eran Greifel, and independent director Varda Triwas, were approved as expected by a ordinary majority. The meeting results as a whole reflect managerial stability and high trust by the investor base in the company's leadership and strategic direction.