AFS.L Regulatory News (AFS)

1 Apr 2009 14:38



1 April 2009

Amiad Filtration Systems Ltd.

("Amiad")

Results of Extraordinary General Meeting and Directorate Changes

Amiad, a producer and global supplier of automatic water filters and filtration systems for the industrial, municipal and irrigation markets, announces that at the Extraordinary General Meeting of the Company (EGM) held earlier today all resolutions were duly passed, with the exception of resolution 10 which had been withdrawn prior to the meeting following the resignation of Gil Nussbaum, as announced by Amiad on 27 March 2009.

As a result, Amiad welcomes to the Board Dr Zeev Holender, Mr Harel Beit-On and Ms Osnat Ronen as non-executive directors and Mr Simon Olswang as a statutory external director. The EGM also approved the re-appointment of Mr Michael Rosenberg as a statutory external director.

Dr Holender, aged 51, joins the Board, bringing a wide variety of business experience and legal knowledge with him. Heading an Israeli law firm, Dr Holender provides legal services to the controlling shareholder of Amiad, Kibbutz Amiad. Dr Holender is currently a director of Na'aeli Neot Agriculture Cooperative for Business Ltd., Aeronautics Ltd., YERH Trust Ltd., YERH Services Ltd., YEHR Real Estate Ltd. and Dr. Zeev Holender Law Offices and has served as a director of Aquaria Ltd. Mr Holender has an LLB from the Tel Aviv University and a S.J.D (Doctorate of Juridical Science) from Harvard Law School.

Mr Harel Beit-On, aged 49, founder and Partner of Viola Private Equity I L.P., is a senior executive with over 20 years of management leadership in the software industry. From 1994 to 2005, Mr Beit-On has served as the president and chief executive officer (CEO) of Technomatix Ltd. In 2005, Mr Beit-On led the sale of Tecnomatix to UGS (now Siemens) for US$228 million. In November 2006, on behalf of the Viola group, Mr Beit-On led the acquisition of 80% of the shares of Lumenis Ltd for US$150 million. Mr Beit-On is currently a director of Red Bend Ltd., Shunra Software Ltd., Lumenis Ltd and Pulsar Welding Ltd. and has served as chairman and/or director of ECtel Ltd. (NASDAQ:ECTX), Optimal Test Ltd., Mythings Inc., Cognitens Ltd., Tecnomatix (NASDAQ), Clarizen Ltd. and Inspire Investments (TASE). Mr Beit-On has a BA in Economics from the Hebrew University in Jerusalem and an MBA from the Massachusetts Institute Technology (MIT).

Ms Osnat Ronen (formerly Schreibman), aged 46, is a Partner of Viola Private Equity I L.P. and has significant experience in business and private equity investments. Prior to joining Viola Private Equity I L.P., she was deputy CEO of Leumi Partners (formerly Leumi & Co. Investment House), the investment banking arm of Leumi Group. In Leumi Partners, Ms Ronen was responsible for the private equity investment portfolio of Leumi Group valued over US$2 billion. Ms Ronen is currently a director of AudioCodes Limited and has served as a director of Paz Limited (TASE), Direct Insurance Financial Investments Limited, Direct Insurance IDI Limited (TASE), Leumi Card Limited, Fox Weisel Limited, Keshet Broadcasting Limited, Leumi Investment and Leasing Company Limited, National Consultants Limited, Archimedes Limited, Psagot Mutual Funds and Tene Growth Capital Investment Fund where she was a member of the Investment Committee. Ms Ronen has a BSc in Mathematics and Computer Science and an MBA in Finance, both from Tel Aviv University.

Mr Simon Olswang, aged 65, joins the Board as a statutory external director following a distinguished career in law and business. Mr Olswang is currently a director of Amdocs Limited, a member of the Advisory Board of Palamon Capital Partners LLP, and has recently completed his terms of office as a member of the Boards of  DIC Entertainment Inc., Ennismore Property Company Limited, OSSP Limited and The British Library.  

Mr Tal Yeshua, Chairman of Amiad said:

"We are delighted with the appointments we have made today. We look forward to working with them all and benefiting from their vast business knowledge as Amiad continues to capitalise on the increased investment in water infrastructure globally and move forward to the next stage."

There are no other disclosures required under Schedule Two paragraph (g) of the AIM Rules for Companies. 

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