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17 Feb 2011 08:23
Emblaze Ltd ("Emblaze" or "the Company") directorate change
Ra'anana, Israel, 17 February 2011: The board of directors of Emblaze (the "Board") announces that after seven years of service, Mr. Bernstein is stepping down from his position as a director of the Company with immediate effect.
Following the completion of the sale by the Company of its entire holding in Formula Systems (1985) Ltd. ("Formula") to Asseco Poland SA. in November 2010, it was announced that Mr. Bernstein stepped down from his position as chief executive officer of Emblaze as he continued to manage Formula under the new ownership.
Mr. Bernstein's departure from the Board is taking place in order to avoid potential conflict of interest between Emblaze's M&A strategy and that of Formula.
The Board would like to take this opportunity to thank Mr. Bernstein and to express its deep appreciation for his long term contribution to the Company.
Enquiries:
Hagit Gal, Emblaze hagit.gal@emblaze.com
Jonathan Shillington/Alistair Scott, Grayling +44 20 7932 1850 alistair.scott@grayling.com
The Emblaze Group is traded on the London Stock Exchange since 1996. www.emblaze.com
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