RNS Number : 1035W
Bateman Litwin N.V.
06 June 2008
Bateman Litwin N.V.
(the "Company")
Board Changes and Notice of Extraordinary General Meeting ("EGM")
Amsterdam, The Netherlands, 6 June 2008 - Further to the announcement on 26 March 2008 the
Company will be proposing certain changes to
the board of directors (the "Board"), and amendments to its articles of association at its
forthcoming EGM on 24 June 2008.
Resignation of Yehoshua (Shuki) Raz
As previously announced after sixteen years with the Company, six of which as Chief
Executive Officer, Yehoshua (Shuki) Raz is to step
down from his position as an executive director and Chief Executive Officer of the Company. At
the EGM shareholders will be requested to
formally approve Mr. Raz's resignation.
David Turch Lamont, proposed executive director and Chief Executive Officer
The Board wishes to propose the appointment of Mr. David Turch Lamont as an executive
director and Chief Executive Officer of the
Company.
Mr. Lamont, aged 47, has over 25 years of industry experience and has held various
technical and senior management positions around the
world. These include a variety of technical, engineering and managerial positions in Europe,
the former Soviet Union, Africa and Australia.He was president of Eastern Region and Global Subsea Systems for Vetco International from 2004
to 2007. Prior to this position, Mr. Lamont
was senior vice president of the Eastern Region, Europe, the Commonwealth of Independent
States and Africa at Vetco Gray, initially under
the ownership of ABB. Mr. Lamont has also held various senior operational positions at
Schlumberger Limited where he worked for over 18
years.
The Board is confident that Mr. Lamont has the necessary experience and ability to take
the Company to, through and beyond its next
phase of growth.
For the purposes of paragraph (g) of Schedule Two to the AIM Rules for Companies, the
following are the companies of which Mr. Lamont
has been a director within the past 5 years:
Past Directorships:
Vetco Group Limited Vetco Gray Italia S.R.L.
Vetco Gray Holding Limited Vetco Gray Eastern Limited
Vetco International Holding 4 Vetco Gray Egypt Limited
Vetco Gray Controls Limited Vetco Gray North Africa Limited
Vetco Gray U.K. Limited Vetco Gray Poland SP Z.o.o.
Vetco Holding (USD) Limited Vetco Gray Australia Pty. Limited
Vetco Holding (NOK) Limited West Africa Completion Services Limited
Vetco Gray Scandinavia AS Pressure Control Systems Nigeria Limited
Mr. Lamont holds no current directorships.
Mr. Lamont was awarded options over 345,821 shares in the capital of the Company under the
Company's Long Term Incentive Plan on 28
March 2008.
There are no other disclosures in relation to Mr Lamont required under either Rule 17 or
paragraph (g) of Schedule Two to the AIM Rules
for Companies.
David Granot, proposed non-executive director
Mr. Granot, aged 61, has over 35 years of experience in the international finance sector
and has held various senior management
positions. He is currently working for the BSG Group, and as such will represent the
controlling shareholder of the Company on the Board.Prior to joining the BSG Group, Mr. Granot was, amongst others, Chief Executive Officer of The
First International Bank of Israel Ltd,
Israel Discount Bank and Union Bank of Israel.
The Board is of the opinion that Mr. Granot, with his financial background, will have
added value for the Company.
For the purposes of paragraph (g) of Schedule Two to the AIM Rules for Companies, the
following are the companies and/or partnerships of
which Mr. Granot has been a director within the past 5 years:
Current Directorships:
Scorpio Real Estate Ltd
BSG Resources Ltd
BSG Capital Markets PCC Limited
Past Directorships:
The First International Bank of Israel Ltd.
There are no other disclosures in relation to Mr. Granot required under either Rule 17 or
paragraph (g) of Schedule Two to the AIM Rules
for Companies.
Max Abitbol, current executive director, proposed as non-executive director
Mr. Abitbol, currently an executive director and the Company's business development
officer, is to step down as executive director and
as the Company's business development officer. The Company, however, will be able to retain
his valuable knowledge and know-how of the
business as Mr. Abitbol is proposed to be appointed as non-executive director. In addition Mr.Abitbol will continue to work for the Company
in a part-time consulting capacity.
Resolutions to approve these appointments, as well as the amendments to the articles of
association, will be considered at an EGM to be
held at Haaksbergweg 59, 1101 BR Amsterdam Zuidoost, The Netherlands on Tuesday 24 June 2008
at 09:00 a.m. CEST (08:00 a.m. BST). A notice
of the EGM is being posted to shareholders today and is available on the Company's website,
www.bateman-litwin.com.
The draft deed of amendment to the Company's articles of association, the employment
agreement of Mr. Lamont and the letters of
appointment of Mr. Granot and Mr. Abitbol will be available for inspection at the registered
office of the Company, Haaksbergweg 59, 1101 BR
Amsterdam Zuidoost, The Netherlands during normal business hours in The Netherlands and at the
offices of Berwin Leighton Paisner LLP,
Adelaide House, London Bridge, London EC4R 9HA, England during normal business hours in
England, from the date of this notice until the date
of the EGM and at the EGM itself from 09:00 a.m. CEST (08:00 a.m. BST) until the conclusion of
the meeting.
About Bateman Litwin N.V.
Bateman Litwin N.V. is a mid-sized Oil, Gas, Power and Renewable Energy EPC (engineering
procurement and construction) contractor and a
proprietary technology provider in the Renewable Energy and the Phosphate and Solvent
Extraction dependent industries. It is developing its
reputation by combining its world class EPC skills with its leading technology expertise. To
find out more, visit Bateman Litwin at:
www.bateman-litwin.com
Enquiries:
Bateman Litwin
Shuki Raz, Chief Executive Officer Tel: +31 (0)20 5640 491
David Lamont, Designate Chief Executive Officer Tel: +44 (0)20 7484 8761
Eyal Cohen, Chief Financial Officer Tel: +31 (0)63 4659 348
Ingrid Boon, Investor Relations Manager Tel: +44 (0)20 7484 8762
Caroline Been, Group Secretary Tel: +31 (0)20 5640 491
This information is provided by RNS
The company news service from the London Stock Exchange
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