XTL Biopharmaceuticals to hold extraordinary meetings at shareholder's request

By Lisa Kerner

Charlotte, N.C., Feb. 5 - XTL Biopharmaceuticals Ltd. said it will hold two extraordinary meetings of its shareholders on March 11 in Rehovot, Israel, at the request of a stockholder holding more than 5% of the company's outstanding ordinary shares.

XTL said the meeting will address the proposed appointment of Boaz Shweiger, Mark Allouche, Amit Yonay and David Grossman as directors of the company until the next annual meeting and the proposed appointment of Yaron Diament and Dafna Cohen as external directors until March 11, 2012.

All of XTL's current directors will be expected to immediately tender their resignations upon the approval of Shweiger, Allouche, Yonay, Grossman, Diament and Cohen.

XTL is also expected to consider additional actions, including consolidating and re-dividing the company's share capital and increasing its registered share capital.

Valley Cottage, N.Y.-based XTL is a biotechnology company that acquires, develops and commercializes pharmaceutical products for the treatment of infectious diseases, including hepatitis C.

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