Directorate Change
Orad Hi-Tec Systems
28 September 2006
Press Release
Kfar Saba, Israel
Orad's Annual Shareholders' meeting decided to strength the Board of Directors
with a nomination of a new Chairman and the addition of two new board members.
Orad Hi-Tec Systems (Symbol: OHT), announced today that Mr. Dan Falk's
nomination as Chairman to its Board of Directors and the appointment of two new
board members, Mr. Uzi Peled and Dr. Shimon Ravid were approved at the annual
shareholders' meeting.
As part of the company's build-up both in the fields of marketing and finance,
and to prepare for its growth plans for 2007, Orad has strengthen its Board of
Directors with two new members who bring managerial experience from the
broadcast and financial markets.
Mr. Dan Falk, who served as a board member for the last four years, was
nominated as the Chairman of Board. Mr. Falk was previously the CEO of Sapiens
and the Executive Vise President and CFO of Orbotech. He serves as board member
in several publicly traded Hi-Tec companies such as Orbotech, Nice and Ormat
Technology.
Dr. Shimon Ravid, age 70, is a retiree of the Bank Hapoalim Group, where he
served in different capacities. His last roles in Bank Hapoalim were Joint
Managing Director, CFO, Head of International Division and Chairman of the
Bank's subsidiaries abroad and Chairman of Bank Otzar Hahayal, a subsidiary of
Bank Hapoalim. He also serves as a Director on the board of U-Bank, Iskoor Ltd.,
Golan Heights Winery Ltd, Elge Technologies Ltd., and as Chairman of the
investment committee of 'Harel' Insurance Group. Dr. Ravid holds a B.A. degree
in Economics and Statistics, an M.A. degree (cum laude) in Economics, and a Ph.
D. degree in Economics, all from the Hebrew University of Jerusalem.
Mr. Uzi Peled, age 69, has many years of managerial and broadcasting experience.
From 1993 to 2004 he was the Managing Director and Part Owner of Tel-Ad
Broadcasting, which held a franchise to broadcast on Israel's Channel 2. Mr.
Peled was the Managing Director and Part Owner of Tel-Ad Jerusalem Studios Ltd,
Idan Films Ltd. and Idan Advertising Ltd. He also served as Director General of
the Israel Institute of Applied Social Research, as well as serving as an
instructor both at the Hebrew University Graduate Schools of Communications and
Business Administration, and the Communications department at the Technion in
Haifa, Israel. From 1967 to 1969 Mr. Peled founded and served as Deputy Director
of Israel TV. Mr. Peled is the author of various articles on Social Research and
Communications and the author of the book 'Managerial Climate in Israel'. He is
also the producer of over 800 documentary films, TV programmes and series. Mr.
Peled holds a B.A. degree in Economics & Statistics from the Hebrew University
of Jerusalem and an M.A. degree in Sociology from Brandeis University, USA.
No further information requires to be disclosed under Schedule Two, paragraph
(g) of the AIM Rules.
About ORAD
Founded in 1993, Orad is a world leader in TV production technology and is
rapidly increasing its position in the Virtual Reality industry. Orad's lines of
products include virtual sets, on-air graphics systems, virtual advertising,
sports production solutions and hardware for the Virtual Reality industry. Orad
is a publicly traded company in the Prime Standard on Frankfurt's
Wertpapierborse Prime Standard and Alternative Investment Market of the London
Stock Exchange (symbol: OHT).
www.orad.tv
For further information contact:
ORAD Hi-Tec Systems Ltd
Ehud Ben-Yair 972 9 7676 862
C.F.O ehudb@orad.tv
Shore Capital
Graham Shore, London, UK 44 20 7408 4090
Edicto Investor Relations
Dr. Sonke Knop, Frankfurt Germany 49 608494859-1
This information is provided by RNS
The company news service from the London Stock Exchange