Company Adds Two Directors to the Board
Company to Continue Strategic Alternatives Process to Maximize Value for All Shareholders
TEL AVIV, Israel, June 12, 2017 (GLOBE NEWSWIRE) — Alcobra Ltd. (Nasdaq:ADHD), an emerging pharmaceutical company focused on the development of new medications to treat significant unmet clinical needs, today announced that it has entered into a cooperation agreement (the “Cooperation Agreement”) with Brosh Capital Partners L.P. and certain of its affiliates (the “Brosh Group”) in connection with, among other things, Alcobra’s 2017 Annual General Meeting of Shareholders (the “AGM”). Pursuant to the Cooperation Agreement, Alcobra has appointed two new directors, Mr. Amir Efrati and Mr. Yuval Yanai, to the Alcobra Board of Directors, effective immediately. Mr. Yanai is not affiliated with the Brosh Group and qualifies as an independent director. As of the appointments, the Alcobra Board consists of ten directors.
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