Exhibit 1
Alpha Capital Anstalt
Lettstrasse 32
Vaduz, Liechtenstein
August 16, 2019
MER Telemanagement Solutions Ltd.
14 Hatidhar Street
Ra’anana, Israel
Attention: Roy Hess, Chief Executive Officer, roy.hess@mtsint.com
and Odeya Brick-Zarsky, odeyabz@abramson-law.com
Re: Notice of Termination of Alpha Capital’s Right to Designate Board Members
Ladies and Gentlemen:
Please accept this letter as formal notice, pursuant to Section 4.18 of the certain Securities Purchase Agreement between us, dated September 6, 2018, and pursuant to Articles 29.2.2 and 34.8 of MER’s Amended and Restated Articles, that Alpha Capital Anstalt herewith terminates and permanently waives it rights to designate two members of the Board of Directors of MER, and to appoint any replacement Alpha Capital Directors, or to have any consent rights under Article 29.2.2, effective immediately.
Very Truly Yours, | ||
Alpha Capital Anstalt | ||
By: | /s/ Konrad Ackermann | |
Konrad Ackermann, Director |