26th Jan 2006 14:21
Orad Hi-Tec Systems26 January 2006 Orad Hi-Tec Systems Limited (the "Company") Board Changes Following the resignation of Mr Yehuda Bronicki's as director and Chairman ofthe Board, the board of the Company has adopted the following resolutions: Resolved, that pursuant to article 16.3 of the Company's articles ofassociation, Mr Daniel Furman shall serve as a director of the Company as anon-executive director (in place of Mr Yehuda Bronicki, ie not as an "externaldirector as defined in Israeli company law), until the next annual generalmeeting of shareholders. Mr Daniel Furman is hereby appointed as a member ofthe audit committee. Further resolved, that as a result of the resignation of Mr Yehuda Bronicki, MrDan Falk shall serve as the Chairman of the Board of Directors until the nextannual general meeting of shareholders. Mr Falk shall cease serving as a member of the audit committee and as its Chairman. Further resolved, that Anat Segal will serve as the Chairman of the auditcommittee. Mr Furman is aged 61 and holds 753,300 shares in the Company, representing 6.98per cent of the Company's issued share capital. He is currently a director of: The First International Bank of Israel Cohanzick Credit Opportunities Fund Cohanzick Absolute Return Fund MMRI Photonics Limited Telemessage Limited. He has had no other directorships in the last 5 years. Nothing else falls duefor disclosure under the AIM rules. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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