01:59 PM EST, 11/15/2024 (MT Newswires) -- (Updates with Nano Dimension's ( NNDM ) response in the eighth and ninth paragraphs and stock move in the 10th paragraph.)

Nano Dimension ( NNDM ) shareholder Anson Funds said Friday it intends to vote against what it called the "egregious" compensation package of Nano Dimension ( NNDM ) Chief Executive Yoav Stern at the company's annual meeting on Dec. 6.

Anson, which is the company's largest shareholder, also said it intends to vote against the reelection of Nano's current directors, including Stern.

"Anson Funds continues to believe that the incumbent board of directors has failed to provide sufficient oversight over Mr. Stern, allowing him to continue acquiring cash-burning entities despite a track record of poor results," the asset manager said.

Anson said it intends to vote for shareholder nominees and for a shareholder proposal to declassify the board.

Another shareholder, Murchinson, said in a separate statement Friday that it issued an investor presentation to refute what it described as "false and misleading claims" contained in Nano's recent public materials.

Nano said Thursday that in connection with the upcoming annual meeting, it sent a letter to shareholders that "details the progress Nano has made in delivering on its promises to shareholders... including the execution of transformational M&A agreements."

In its presentation, Murchinson said the company's M&A strategy is dilutive and "has failed shareholders." Murchinson said it has nominated Ofir Baharav and Robert Pons for election to Nano's board at the annual meeting.

"These two shareholders have for years pursued self-interested attacks on Nano Dimension ( NNDM ) and its board and management," Nano Dimension ( NNDM ) told MT Newswires. "In contrast to the clear plan under way at Nano to drive value, these dissidents have offered no constructive alternative other than their relentless pursuit to seize control of the company to the detriment of other shareholders."

The company said its board and management remain committed to delivering long-term value to shareholders.

Nano Dimension ( NNDM ) shares were down 5% in recent trading.

Price: 2.06, Change: -0.11, Percent Change: -5.07