Weebit Nano Ltd. · ASX:WBT
Weebit Nano — Shareholder Meeting (September 2019)
52 slides from Weebit Nano's shareholder meeting presentation, Sep 26, 2019
Slide 1: 2019 Annual General Meeting CEO presentation
For personal use only 2019 Annual General Meeting CEO presentation September 2019 1
Slide 2: Resolution 1 – Adoption of Remuneration Report
ORDINARY BUSINESS For personal use only Resolution 1 – Adoption of Remuneration Report To consider and if thought fit pass the following resolution as an ordinary resolution: “That, for the purpose of Section 250R(2) of the Corporations Act, approval is given for the adoption of the Remuneration Rep
Slide 3: Proxy Voting Results – Resolution 1
PROXY VOTING RESULTS – RESOLUTION 1 For personal use only Number %2 FOR 2,590,774 38.8% AGAINST 224,423 3.36% OPEN – Nominated Chair1 3,862,492 57.84% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE3 167,611 / 3,712,911 1. To be voted in favour of the resolution 2. Of proxies cast 3. Voting exclusions 3
Slide 4: Resolution – Election of Atiq Raza as a Director
ORDINARY BUSINESS For personal use only Resolution 2 – Election of Atiq Raza as a Director To consider and if thought fit pass the following resolution as an ordinary resolution: “That Atiq Raza, who retires in accordance with clause 14.4 (Additional Directors) of the Company’s constitution and, bei
Slide 5: Proxy Voting Results – Resolution 2
PROXY VOTING RESULTS – RESOLUTION 2 For personal use only Number %2 FOR 5,702,945 54.15% AGAINST 113,800 1.08% OPEN – Nominated Chair1 4,716,033 44.77% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE 25,433 1. To be voted in favour of the resolution 2. Of proxies cast 5
Slide 6: Resolution – Re-election of Mr Ashley Krongold as a Director
ORDINARY BUSINESS For personal use only Resolution 3 – Re-election of Mr Ashley Krongold as a Director To consider and if thought fit pass the following resolution as an ordinary resolution: “That Ashley Krongold, who retires by rotation in accordance with clause 14.2 (Rotation of Directors) of the
Slide 7: Proxy Voting Results – Resolution 3
PROXY VOTING RESULTS – RESOLUTION 3 For personal use only Number %2 FOR 5,741,317 54.44% AGAINST 138,508 1.31% OPEN – Nominated Chair1 4,666,033 44.25% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE 12,353 1. To be voted in favour of the resolution 2. Of proxies cast 7
Slide 8: Resolution – Approval of Additional 10% Placement Capacity
ORDINARY BUSINESS For personal use only Resolution 4 – Approval of Additional 10% Placement Capacity To consider and if thought fit pass the following resolution as a special resolution: “That, for the purpose of ASX Listing Rule 7.1A and for all other purposes, approval is given for the issue of eq
Slide 9: Proxy Voting Results – Resolution 4
PROXY VOTING RESULTS – RESOLUTION 4 For personal use only Number %2 FOR 5,346,988 50.74% AGAINST 524,403 4.98% OPEN – Nominated Chair1 4,666,698 44.28% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE 20,122 1. To be voted in favour of the resolution 2. Of proxies cast 9
Slide 10: Resolution – Performance Rights and Options to Atiq Raza
ORDINARY BUSINESS For personal use only Resolution 5 – Approval of Performance Rights and Options to Non- executive Director of the Company, Mr Atiq Raza To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of ASX Listing Rule 10.11 and for a
Slide 11: Proxy Voting Results – Resolution 5
PROXY VOTING RESULTS – RESOLUTION 5 For personal use only Number %2 FOR 5,667,453 53.86% AGAINST 188,616 1.79% OPEN – Nominated Chair1 4,666,033 44.35% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE 36,109 1. To be voted in favour of the resolution 2. Of proxies cast 11
Slide 12: Resolution – Subsequent approval of August 2019 share issue
ORDINARY BUSINESS For personal use only Resolution 6 – Subsequent approval of issue of ordinary shares pursuant to Listing Rule 7.4 – issue of ordinary shares in August 2019 (refresh 15%) To consider and if thought fit pass the following resolution as an ordinary resolution: “That the issue of 5,828
Slide 13: Proxy Voting Results – Resolution 6
PROXY VOTING RESULTS – RESOLUTION 6 For personal use only Number %2 FOR 5,642,658 53.69% AGAINST 174,412 1.66% OPEN – Nominated Chair1 4,691,633 44.65% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE 49,508 1. To be voted in favour of the resolution 2. Of proxies cast 13
Slide 14: Resolution – Placement Shares to David Perlmutter
ORDINARY BUSINESS For personal use only Resolution 7 – Approval to issue Placement Shares to David Perlmutter To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and auth
Slide 15: Proxy Voting Results – Resolution 7
PROXY VOTING RESULTS – RESOLUTION 7 For personal use only Number %2 FOR 4,362,254 47.19% AGAINST 214,068 2.32% OPEN – Nominated Chair1 4,666,033 50.49% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE 1,315,856 1. To be voted in favour of the resolution 2. Of proxies cast 15
Slide 16: Resolution – Placement Shares to Fred Bart
ORDINARY BUSINESS For personal use only Resolution 8 – Approval to issue Placement Shares to Fred Bart To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and authorise t
Slide 17: Proxy Voting Results – Resolution 8
PROXY VOTING RESULTS – RESOLUTION 8 For personal use only Number %2 FOR 5,108,115 49.79% AGAINST 486,541 4.74% OPEN – Nominated Chair1 4,666,033 45.47% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE3 64,379 / 233,143 1. To be voted in favour of the resolution 2. Of proxies cast 3. Voting exclusions 17
Slide 18: Resolution – Placement Shares to Atiq Raza
ORDINARY BUSINESS For personal use only Resolution 9 – Approval to issue Placement Shares to Atiq Raza To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and authorise t
Slide 19: Proxy Voting Results – Resolution 9
PROXY VOTING RESULTS – RESOLUTION 9 For personal use only Number %2 FOR 5,635,167 53.57% AGAINST 219,068 2.08% OPEN – Nominated Chair1 4,666,033 44.35% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE 37,943 1. To be voted in favour of the resolution 2. Of proxies cast 19
Slide 20: Resolution – Placement Shares to Jacob Hanoch
ORDINARY BUSINESS For personal use only Resolution 10 – Approval to issue Placement Shares to Jacob Hanoch To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and authori
Slide 21: Proxy Voting Results – Resolution 10
PROXY VOTING RESULTS – RESOLUTION 10 For personal use only Number %2 FOR 5,650,167 53.89% AGAINST 212,868 2.03% OPEN – Nominated Chair1 4,621,592 44.08% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE3 27,943 / 45,641 1. To be voted in favour of the resolution 2. Of proxies cast 3. Voting exclusions 21
Slide 22: Resolution – Placement Shares to Yoav Nissan-Cohen
ORDINARY BUSINESS For personal use only Resolution 11 – Approval to issue Placement Shares to Yoav Nissan-Cohen To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and au
Slide 23: Proxy Voting Results – Resolution 11
PROXY VOTING RESULTS – RESOLUTION 11 For personal use only Number %2 FOR 5,354,625 50.85% AGAINST 476,467 4.52% OPEN – Nominated Chair1 4,699,176 44.63% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE 27,943 1. To be voted in favour of the resolution 2. Of proxies cast 23
Slide 24: Resolution – Options to Jacob Hanoch
ORDINARY BUSINESS For personal use only Resolution 12 – Approval of issue of Options to Executive Director of the Company, Jacob Hanoch To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of ASX Listing Rule 10.11 and for all other purposes,
Slide 25: Proxy Voting Results – Resolution 12
PROXY VOTING RESULTS – RESOLUTION 12 For personal use only Number %2 FOR 5,503,696 52.72% AGAINST 315,539 3.02% OPEN – Nominated Chair1 4,620,392 44.26% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE3 72,943 / 45,641 1. To be voted in favour of the resolution 2. Of proxies cast 3. Voting exclusions 25
Slide 26: Resolution – Options to David Perlmutter
ORDINARY BUSINESS For personal use only Resolution 13 – Approval of issue of Options to Non-executive Director of the Company, David Perlmutter To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of ASX Listing Rule 10.11 and for all other p
Slide 27: Proxy Voting Results – Resolution 13
PROXY VOTING RESULTS – RESOLUTION 13 For personal use only Number %2 FOR 4,139,990 44.83% AGAINST 297,192 3.22% OPEN – Nominated Chair1 4,796,609 51.95% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE3 170,920 / 1,153,500 1. To be voted in favour of the resolution 2. Of proxies cast 3. Voting exclusions
Slide 28: Resolution – Options to Yoav Nissan-Cohen
ORDINARY BUSINESS For personal use only Resolution 14 – Approval of issue of Options to Executive Director of the Company, Yoav Nissan-Cohen To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of ASX Listing Rule 10.11 and for all other purp
Slide 29: Proxy Voting Results – Resolution 14
PROXY VOTING RESULTS – RESOLUTION 14 For personal use only Number %2 FOR 5,397,504 51.48% AGAINST 421,731 4.02% OPEN – Nominated Chair1 4,666,033 44.50% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE 72,943 1. To be voted in favour of the resolution 2. Of proxies cast 29
Slide 30: Resolution – Options to Ashley Krongold
ORDINARY BUSINESS For personal use only Resolution 15 – Approval of issue of Options to Non-executive Director of the Company, Ashley Krongold To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of ASX Listing Rule 10.11 and for all other pu
Slide 31: Proxy Voting Results – Resolution 15
PROXY VOTING RESULTS – RESOLUTION 15 For personal use only Number %2 FOR 3,968,354 43.82% AGAINST 421,731 4.66% OPEN – Nominated Chair1 4,666,033 51.52% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE3 72,943 / 1,429,150 1. To be voted in favour of the resolution 2. Of proxies cast 3. Voting exclusions
Slide 32: Resolution – Options to Fred Bart
ORDINARY BUSINESS For personal use only Resolution 16 – Approval of issue of Options to Non-executive Director of the Company, Fred Bart To consider and if thought fit pass the following resolution as an ordinary resolution: ““That for the purposes of ASX Listing Rule 10.11 and for all other purpose
Slide 33: Proxy Voting Results – Resolution 16
PROXY VOTING RESULTS – RESOLUTION 16 For personal use only Number %2 FOR 5,164,361 50.38% AGAINST 421,731 4.11% OPEN – Nominated Chair1 4,666,033 45.51% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE3 72,943 / 233,143 1. To be voted in favour of the resolution 2. Of proxies cast 3. Voting exclusions 33
Slide 34: Resolution – Options to Yossi Keret
ORDINARY BUSINESS For personal use only Resolution 17 – Approval of issue of Options to Non-executive Director of the Company, Yossi Keret To consider and if thought fit pass the following resolution as an ordinary resolution: ““That for the purposes of ASX Listing Rule 10.11 and for all other purpo
Slide 35: Proxy Voting Results – Resolution 17
PROXY VOTING RESULTS – RESOLUTION 17 For personal use only Number %2 FOR 5,396,789 55.46% AGAINST 422,446 4.34% OPEN – Nominated Chair1 3,912,533 40.20% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE3 72,943 / 753,500 1. To be voted in favour of the resolution 2. Of proxies cast 3. Voting exclusions 35
Slide 36: Resolution – Options to Atiq Raza
ORDINARY BUSINESS For personal use only Resolution 18 – Approval of issue of Options to Non-executive Director of the Company, Atiq Raza To consider and if thought fit pass the following resolution as an ordinary resolution: “That for the purposes of ASX Listing Rule 10.11 and for all other purposes
Slide 37: Proxy Voting Results – Resolution 18
PROXY VOTING RESULTS – RESOLUTION 18 For personal use only Number %2 FOR 5,544,158 52.87% AGAINST 276,077 2.63% OPEN – Nominated Chair1 4,666,033 44.50% – Other Nomination 0 0.0% ABSTAIN / EXCLUDE 71,943 1. To be voted in favour of the resolution 2. Of proxies cast 37
Slide 38: Company Overview
COMPANY OVERVIEW For personal use only Weebit Nano Competitive Technology maturity Developer of ReRAM memory technology, advantage Now at production-level (1000x faster and 1000x more energy Uses standard retention and endurance; efficient, 100X higher endurance) than materials in fabrication, filin
Slide 39: Memory at the Center of the Digital World
AI Drones For personal use only MEMORY Autonomous at the Vehicles ` CENTER of the DIGITAL WORLD Robotics IoT 5G Security 39
Slide 40: Embedded NVM Market: 100% Annual Growth
Embedded emerging NVM EMBEDDED market projections NVM MARKET: For personal use only 1200 2.6X 100% ANNUAL 1000 ’17-’23 CAGR ~ 100% GROWTH 800 600 ReRAM and MRAM are the two largest contributors 2.5X 400 200 2.8X Leading independent market 0 research company covering the 2017 2018 2019 2020 2021 2022
Slide 41: Target Markets
TARGET MARKETS For personal use only Artificial Intelligence Automotive Key Applications: Key Applications: Facial & object recognition Autonomous vehicles, and big data manipulation Infotainment Weebit’s technology Key advantages: Key advantages: is now at the point Able to manufacture in m
Slide 42: Productisation & Commercialisation Roadmap
PRODUCTISATION & COMMERCIALISATION ROADMAP For personal use only Schedule reflects priority given to first potential customer engagement Initiate engagement with first potential customer Finalise initial technology testing Production Fab Currently received their specification 4Kb Array and started t
Slide 43: ReRAM Well Placed to Replace Flash with Faster Read Times & Lower Power
ReRAM WELL PLACED TO REPLACE For personal use only FLASH WITH FASTER ReRAM is significantly faster and more energy efficient READ TIMES & than the existing Flash memory LOWER POWER Resistive RAM (ReRAM) is a leading emerging memory technology being developed to replace Flash Has major benefits o
Slide 44: ReRAM Technology for Tomorrow
RERAM TECHNOLOGY FOR TOMORROW For personal use only Weebit can enable Brain Mimic the brain as accurately as possible Inspired Artificial Intelligence ReRAM resembles biological Neurons systems using ReRAM Physical similarities lead to functional similarities for AI applications Highly energy
Slide 45: South Korean Tier 1 Potential Customer
SOUTH KOREAN TIER 2 POTENTIAL CUSTOMER For personal use only Background Top 10 Worldwide analogue company with its own fab Uses 200mm wafers and larger geometries – a great fit for where WBT’s technology is currently at Status Provided Weebit with a definition of the Memory Module, as well as
Slide 46: Collaboration with XTX
COLLABORATION WITH XTX For personal use only Background A Chinese developer of Flash memory chips Has close to 2,000 customers worldwide Including many leading global semiconductor companies Looking to improve its existing memory products with newer, superior technology more suitable for adv
Slide 47: Typical Industry Business Model
TYPICAL INDUSTRY BUSINESS MODEL For personal use only Option 1 Option 2 License to semiconductor customers License to fabs Revenue per customer project Revenue per wafer consists of: consists of 3 main elements: IP Licensing Fees: Paid upon engagement, ranging from $500K to $2M per license, typica
Slide 48: Capital Raise Update
CAPITAL RAISE UPDATE For personal use only Funds raised will allow WBT to progress key milestones Placement & Entitlement on the path to commercialisation: Offer raised $3.1m; • Development of memory module for South Korean potential Looking to place shortfall customer within next 3 months • Initiat
Slide 49: World Class Semiconductor Team
WORLD CLASS SEMICONDUCTOR TEAM For personal use only Coby Hanoch David Perlmutter Dr. Yoav Nissan-Cohen Atiq Raza Amir Regev CEO CHAIRMAN EXECUTIVE DIRECTOR NON-EXECUTIVE CTO 40 years of experience in the Served as Executive Vice Received his PhD researching Over 40 years experience in the Over 20 y
Slide 50: Experienced Advisory Team
EXPERIENCED ADVISORY TEAM For personal use only Alla Felder Fred Bart Ashley Krongold CFO NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR Over 20 years of experience as a Certified Public Accountant. Chairman and major 15 years in Investment Served as a senior manager at shareholder of Electro Banking
Slide 51: Summary
SUMMARY For personal use only Weebit has It is progressing Technology now a leading ReRAM discussions with potential being prepared solution that can customers, targeting first for the transfer replace Flash memory orders in 2020 to production Well credentialed Board and Additional opportunities to
Slide 52: Thank You
52 For personal use only THANK YOU