TIDMAFS

RNS Number : 8308C

Amiad Water Systems Ltd

24 January 2018

24 January 2018

Amiad Water Systems Ltd.

("Amiad" or the "Company")

Notice of EGM and Directorate Change

Amiad (AIM: AFS), a leading global producer of water treatment and filtration solutions, gives notice that an Extraordinary General Meeting ("EGM") of the Company is to be held at 11.00am GMT on Wednesday 28 February 2018 at the offices of Berwin Leighton Paisner LLP, Adelaide House, London Bridge, London, EC4R 9HA, England, to consider and, if thought fit, pass the following resolutions:

   1.                To appoint Mr Arie Schor as a statutory external director of the Company.

2. (Conditional upon the passing of resolution 1), to approve the terms of appointment and remuneration of Mr Arie Schor as a statutory external director of the Company.

   3.                To re-appoint Mr Derek Zissman as a statutory external director of the Company.

4. (Conditional upon the passing of resolution 3), to approve the terms of appointment and remuneration of Mr Derek Zissman as a statutory external director of the Company.

Proposed Director Appointment

Mr Arie Schor, aged 62, has extensive experience in leading substantial manufacturing-based businesses with international sales and operations. From 2009 to 2016, he was CEO of Tnuva Group, the largest food manufacturer and distributor in Israel, which owns multiple food brands and had sales of NIS 6.6 billion in 2015. Mr Schor joined Tnuva from Hogla-Kimberly (now known as Kimberly-Clark Israel), which was the largest non-food consumer company in Israel with manufacturing facilities in Israel and Turkey. Prior to this, he spent six years as CEO of Caniel Industries A.T.G., a leading provider of metal packaging for food and beverage industries. Mr Schor currently serves as the chairman of the board of directors of Tadbik Ltd., an international packaging business, chairman of the business cooperative of Kibbutz Afikim and as an independent director at Paz Oil Company Ltd., the largest oil & gas company in Israel and which is listed on the Tel Aviv Stock Exchange.

Mr Schor will serve as a statutory external director of the Company, as required under Israeli law (the "Law"), for a three-year period commencing on 1 April 2018. He will be replacing Mr Simon Olswang who will be finishing his third three-year tenure as an external director on 31 March 2018 and has to retire from the Board of Directors under the provisions of the Law.

Other than set out below, there are no other matters required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies as regards Mr Schor's appointment. Mr Schor does not hold any shares in the Company.

Regulatory disclosures:

 
 Mr Arie Schor 
--------------------------------------------- 
 Current Directorships   Directorships within 
                          the last five years 
----------------------  --------------------- 
 Paz Oil Company Ltd.    N/A 
----------------------  --------------------- 
 Kibbutz Afikim 
----------------------  --------------------- 
 Tadbik Ltd. 
----------------------  ---------------------

In 2017, an investigation by the Israeli Antitrust Authority against Tnuva, for violations of competition law during the years 2008-2011, was closed by a settlement order, pursuant to which Tnuva was fined NIS 25m and Mr Schor (due to his role as CEO at the time) and another former officer were each fined NIS 75,000 (c. GBP15,000).

Enquiries

 
 Amiad Water Systems Ltd. 
--------------------------------  ----------------- 
 Dori Ivzori, Chief Executive 
  Officer 
  Irit Ben-Dov, Chief Financial 
  Officer                          +972 4 690 9500 
--------------------------------  ----------------- 
 
 Stifel Nicolaus Europe 
  Ltd. 
--------------------------------  ----------------- 
 Stewart Wallace, Ben 
  Maddison                         +44 20 7710 7600 
--------------------------------  ----------------- 
 
 Luther Pendragon Ltd. 
--------------------------------  ----------------- 
 Harry Chathli, Claire 
  Norbury                          +44 20 7618 9100 
--------------------------------  -----------------

About Amiad

Amiad Water Systems (AIM: AFS) is a leading global producer of automatic, self-cleaning water treatment and filtration products and systems. Through its engineering skills and ability to innovate, Amiad provides cost-effective "green" solutions for the industrial, municipal, irrigation, oil & gas and ballast water markets. In these segments its patented products are being integrated into the core of systems for filtration and water treatment, micro irrigation and membrane protection, wastewater and potable water treatment, cooling systems and sea water filtration.

Headquartered in Israel, Amiad provides these solutions through nine subsidiaries and a comprehensive network of over 170 distributors to customers in more than 80 countries.

For additional information or product details, please visit www.amiad.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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