Payton Planar — AGM Information 2018

Sep 5, 2018

Payton Planar Magnetics Ltd. Reporting its annual and extraordinary general meeting Results

This notice is to announce that an annual and extraordinary general meeting of the Company's shareholders was held on October 15, 2018 at 04:00 PM, in the Company's registered office at 3 Ha'avoda st. Ness-Ziona, Israel.

All the following proposed resolutions on the agenda were approved:

• 1. Acceptance of the Company's 2017 yearly financial statements.
• 1. Approval of dividend distribution at the amount of \$ 0.175 per share (an aggregate amount of USD 3,095 thousands) declared on March 26, 2018, which was distributed on May 24, 2018 as final dividend for the year 2017.
• 1. Re-nomination of KPMG Somekh-Chaikin, a member of the KPMG International, as the Company's independent auditors and authorizing the Board of Directors of The Company, to define their fees.
• 1. Amendment of the Management Service Agreement of Mr. Doron Yativ , CEO of the Company, as of January 1st 2018 so that instead of a variable bonus limited to a maximum of 6 months monthly fee the bonus limit will increase to a maximum of 12 months monthly fee.
• 1. Replacement of the Company's Articles of Association.
• 1. Granting indemnification to all the directors and officers serving in the Company including those who are members of the controlling shareholder of the Company and his relatives.

On behalf of the Company,

Michal Lichtenstein V.P. Finance & C.F.O