BATM Advanced Communications Ld
26 June 2000
BATM Advanced Communications Limited
AGM Statement
At the Annual General Meeting of BATM Advanced
Communications Limited held earlier today all resolutions
were duly passed. The Chairman, Peter Sheldon, also made
the following statement:-
'As shareholders will appreciate, we are holding this AGM
on a date very close to the end of the first half of our
fiscal year which we will be reporting on in due course.
It is not therefore appropriate for me to anticipate
these results, other than to confirm that current trading
accords with our expectations and that I am confident
that I will be reporting further good progress at the
interim stage. The various partnerships that we have
announced over the last few months are also proceeding in
line with our expectations.
Shareholders will be particularly pleased to hear that
the integration of Telco Systems, which we acquired in
March this year, is going well and that the Board is
confident that Telco will make a significant contribution
to your company. Telco is also greatly assisting our
push of new BATM products into North America and we are
very encouraged by the rate of progress achieved so far.
I am also pleased to report that holding and settlement
in our shares through BATM Depository Instruments were
admitted to the CREST system earlier this month. As you
will know, we have today approved a 10 for 1 share split,
which we believe, will widen the appeal of our shares to
private investors. The record date for the share split
will be Friday, 30 June and it is expected that the new
ordinary shares of nominal value of NIS 0.01 will
commence trading on Monday, 3 July 2000.
For further information, please contact: www.batm.com
BATM Advanced Communications Limited
Peter Sheldon, Chairman today 020 7253 2252
Dr Zvi Marom, thereafter 00972 393 86888
Shore Capital and Corporate 020 7408 4090
Graham Shore,
Dresdner Kleinwort Benson 020 7623 6000
Mark Smith
Ludgate Communications
Edward Macquisten, 020 7253 2252
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