Eltek Corrects Bonus Terms in Shareholder Agreement

Eltek (ELTK) has released an update.

Eltek Ltd. has announced a correction to a clerical error in its Proxy Statement related to the terms of its Amended Management Agreement with controlling shareholder Nistec Ltd. The amendment clarifies that Nistec is entitled to a bonus only if Eltek’s net income reaches 4% or more of its revenues, rather than the previously stated 2%. This revision, already approved by Eltek’s Audit Committee and Board of Directors, is deemed beneficial to the company and covered by the shareholder’s prior approval.

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