Notice of EGM

RNS Number : 1297B

BATM Advanced Communications Ld

14 February 2011

 



BATM Advanced Communications Ltd (the "Company")

Notice of Extraordinary General Meeting

The Company announces that a circular has been posted to shareholders today to convene an Extraordinary General Meeting to be held at the offices of Singer Capital Markets Ltd, 1 Hanover Street, London W1S 1YZ on 9 March 2011 at 11.00am.

The full text of the Chairman's letter is set out as follows:

Dear Shareholder

Extraordinary general meeting

I am pleased to enclose the notice to the extraordinary general meeting of the company to be held at the offices of Singer Capital Markets Limited, 1 Hanover Street, London, W1S 1YZ on 9 March 2011 at 11.00am.  The purpose of this meeting is two fold.  Under the requirements of the laws of the State of Israel there must be at least two external directors and following the resignation of Roger Lacey in November it is necessary to appoint an additional external director at this time in order to approve the annual report for 2010 and not to wait for the next annual general meeting to be held later on this year.

At the same time, the Chief Executive's employment agreement has come to an end and as such there is a necessity to enter into a new contract of employment.  As it is a requirement of the laws of the State of Israel that any such employment agreement is authorised by the members in general meeting, this is being brought to the vote of the members of the company at the this time.  As the contract of employment has expired this cannot be held over until the annual general meeting and hence is being brought to the extraordinary general meeting to be held next month.

Recommendation

The directors of the company consider that all such proposals to be considered at the extraordinary general meeting are in the best interests of the company and its members as a whole and are most likely to promote the success of the company for the benefit of its members as a whole.

The directors unanimously recommend that you vote in favour of all the proposed resolutions as they intend to do so in respect of their own beneficial holdings to the extent that they have any.

Yours sincerely,

Peter Sheldon

Chairman

A copy of the Circular and related form of proxy have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do. The Notice of Extraordinary General Meeting will also be available on the Company's website at www.batm.com.

Enquiries:

BATM Advanced Communications: Dr Zvi Marom, Chief Executive Ofer Bar-Ner, Chief Financial Officer	[phone]
Threadneedle Communications: Josh Royston / Graham Herring	020 7653 9850
Singer Capital Markets Ltd: Shaun Dobson	020 3205 7626
Shore Capital: Pascal Keane	020 7408 4090

 

END

 

 

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