- Simulation technology group SimiGon said an investor had filed legal actions against the company in an Israeli court.

The claims were filed by D.D Goldstein Real Estates and Investment, which SimiGon said, to its knowledge, had acquired 1.5m of its shares in 2019.

Filed in the Tel Aviv District Court, the claims included 'a petition for leave to file a monetary claim concerning salaries', SimiGon said.

They also included 'an action for prerogative relief concerning resolutions approved at the company's annual general meeting ... regarding the appointment of directors and the determination of their compensation'.

'The company will study the materials relating to the claims and intends to vigorously defend against them,' SimiGon said.

'The company has notified its insurers with respect to allegations against directors.'

'Upon initial review of the claims, we do not foresee any potential financial penalties to the company even if the court was to decide that these claims have merit.'

At 2:34pm: [LON:SIM] SimiGon Ltd share price was -0.25p at 8.25p

Story provided by