ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gained 2.1% in premarket trading on Wednesday after the shipping company said it had reached an agreement with a group of shareholders, bringing an end to a proxy battle ahead of its upcoming annual meeting.
Under the agreement, reached with a shareholder group led by Mor Gemel Pension Ltd., Reading Capital Ltd., and Sparta 24 Ltd., the parties will present a single, unified slate of ten director candidates at ZIM’s Annual Meeting, scheduled for December 26, 2025. The proposed slate includes all current board members along with two additional nominees, Ron Hadassi and Ran Gritzerstein.
As part of the resolution, the shareholder group has formally withdrawn both its proxy contest and its previously published position statement. In addition, Dr. Keren Bar-Hava has stepped back from her bid for election to the board and has instead been appointed as a board observer.
The shareholder group, which represents a mix of Israeli institutional and retail investors, stated its full support for ZIM’s Board and its ongoing strategic review process. The group has committed to backing the company’s slate of nominees at the Annual Meeting and has urged other shareholders to vote in favor of the proposed directors.
“This agreement reflects strong alignment between the Board and shareholders at a pivotal moment for the Company,” said Yair Seroussi, Chairman of ZIM’s Board of Directors. “With broad support for the full slate of directors, the Board can remain fully focused on completing its strategic review and maximizing value for all ZIM shareholders.”
ZIM’s Board of Directors has unanimously recommended that shareholders vote in favor of all ten nominees to allow the company’s strategic review to proceed without disruption.