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7 Dec 2009 07:00
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7Β December 2009
Clean Energy Brazil PLC
("Clean EnergyΒ Brazil" or the "Company")
AGM results andΒ Board changes
Clean EnergyΒ BrazilΒ announces thatΒ all resolutions proposed at the Annual General Meeting held on 4 December 2009 were duly passed.Β Following the AGM, the following directors were appointed to the Board: Eitan Milgram; Josef (Yossi) Raucher; and Jossef (Yossi) Barath,Β andΒ the following directors resigned from the Board:Β Michael St Aldwyn;Β Nigel Wood;Β and Philip Scales (although Philip willΒ continueΒ to beΒ Company Secretary). CleanΒ EnergyΒ BrazilΒ would like to thank theΒ departing directors for their contribution to the Company.
Mr Milgram (aged 30) is executive vice president of Weiss Capital LLC based in BostonΒ USA;Β he is an experienced portfolio manager and has been a non-executiveΒ director of a number ofΒ listed Asian and other closed ended investment funds. He holds a BA in Economics fromΒ BostonΒ University.Β Mr Raucher (agedΒ 37)Β is an Analyst at Weiss Capital LLC. Before joining Weiss,Β Mr RaucherΒ worked for five years at McKinsey & Company as a Senior Engagement Manager. At McKinsey,Β Mr RaucherΒ was part of the Private EquityΒ and Financial Institutions Practices, where he served Fortune 100 clients on international strategy development, operations and investment due diligence. He has an MBA with Honors fromΒ ColumbiaΒ BusinessΒ School, as well as a LLB in Law and Bachelors in Accounting fromΒ TelΒ AvivΒ University.Β MrΒ Barath (aged 59) has more than 25 yearsΒ experienceΒ in the management of high-tech companies inΒ Israel, theΒ USAΒ and theΒ UK. He served on the Corporate Board of management of Elbit Ltd, an international NASDAQ listed company, andΒ was the founder, president and CEO of, Elbit Vision Systems Ltd, a NASDAQ listed company, taking the company from inception through toΒ its initial public offering.Β Mr. Barath has a diverse background in:Β corporate financeΒ andΒ businessΒ management;Β business development;Β and the establishment of strategic partnerships and alliances.
Save as set outΒ above andΒ in theΒ further information below,Β there is no informationΒ specified by paragraph (g) in Schedule Two to theΒ AIMΒ Rules thatΒ is requiredΒ toΒ be disclosed.
ForΒ enquiriesΒ please contact:
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Smith & Williamson Corporate Finance Limited
(Nominated Adviser)
Azhic Basirov
David Jones
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Tel: +44 (0) 20 7131 4000
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Numis Securities Limited
(Broker)
Charles Farquhar
Lee Aston
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Tel: +44 (0) 20 7260 1000Β
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Fishburn Hedges
(Financial PR Adviser)
Andy Berry
Michelle James
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Tel: +44 (0) 20 7839 4321
ceb@fishburn-hedges.co.uk
+44 (0) 7767 374421
+44 (0) 7958 451446
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Further information
Eitan Milgram
Current directorships and partnerships:Β Indochina CapitalΒ VietnamΒ HoldingsΒ Limited and The Ottoman Fund Limited.
Previous directorships and partnerships in last 5 years: BFS Income and Growth Trust PLC, Premier UK Dual Return Trust Limited, Morley Absolute Growth Investment Company Limited, Acorn Income Fund Limited, Premier Asian Asset Trust Limited, Investec European Growth & Income Trust Limited and American Investment Trust Limited.
Liquidations: During the last five years the following investment companies underwent a solvent liquidation whilst Mr Milgram was a Director; BFS Income and Growth Trust PLC (April 2005), Premier UK Dual Return Trust Limited (November 2007), Morley Absolute Growth Investment Company Limited (April 2005), Premier Asian Asset Trust Limited (July 2007), Investec European Growth & Income Trust Limited (Aug 2004) and American Investment Trust Limited (March 2005).
Yossi Raucher
Previous directorshipsΒ and partnerships in last 5 years: Raucher Management Consulting, a partnership which was voluntarily wound down.
Yossi Barath
Current directorships and partnerships: UBank Mutual Funds Ltd, Brookdale Global OpportunityΒ Fund, Silentium Ltd andΒ Mashav Barath (1999) Ltd.
Previous directorshipsΒ and partnerships in last 5 years: Elbit Vision Systems Ltd, Inspire Investments Ltd, New Opportunities Investment Trust plc, Investec European Growth & Income Trust Limited, The Ukraine Fund Ltd andΒ Beta Viet Nam Fund Ltd.
Liquidations: the following investment companies underwent shareholders voluntary liquidation arrangements while Mr Barath was a director: New Opportunities Investment Trust plc, Investec European Growth & Income Trust Limited and Beta Viet Nam Fund Ltd.
Weiss Capital LLC
Weiss Capital LLC is the investment manager of Brookdale Global Opportunity Fund and Brookdale International Partners, L.P. which own membership interests in Global Investors Acquisition LLC ("GIA") in the ratio of 35% and 65%, respectively; on 20 November 2009, GIA announced that it owned or had received valid acceptances under its offer for the Company in respect of an aggregate of 83,142,696 Clean Energy Brazil ordinary shares (representing 56.3% of the Company's issued ordinary share capital) and declared that the offer was wholly unconditional.
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