28th Sep 2006 15:45
Orad Hi-Tec Systems28 September 2006 Press Release Kfar Saba, Israel Orad's Annual Shareholders' meeting decided to strength the Board of Directorswith 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'snomination as Chairman to its Board of Directors and the appointment of two newboard members, Mr. Uzi Peled and Dr. Shimon Ravid were approved at the annualshareholders' 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 ofDirectors with two new members who bring managerial experience from thebroadcast and financial markets. Mr. Dan Falk, who served as a board member for the last four years, wasnominated as the Chairman of Board. Mr. Falk was previously the CEO of Sapiensand the Executive Vise President and CFO of Orbotech. He serves as board memberin several publicly traded Hi-Tec companies such as Orbotech, Nice and OrmatTechnology. Dr. Shimon Ravid, age 70, is a retiree of the Bank Hapoalim Group, where heserved in different capacities. His last roles in Bank Hapoalim were JointManaging Director, CFO, Head of International Division and Chairman of theBank's subsidiaries abroad and Chairman of Bank Otzar Hahayal, a subsidiary ofBank 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 theinvestment committee of "Harel" Insurance Group. Dr. Ravid holds a B.A. degreein 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-AdBroadcasting, 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 ofthe Israel Institute of Applied Social Research, as well as serving as aninstructor both at the Hebrew University Graduate Schools of Communications andBusiness Administration, and the Communications department at the Technion inHaifa, Israel. From 1967 to 1969 Mr. Peled founded and served as Deputy Directorof Israel TV. Mr. Peled is the author of various articles on Social Research andCommunications and the author of the book "Managerial Climate in Israel". He isalso the producer of over 800 documentary films, TV programmes and series. Mr.Peled holds a B.A. degree in Economics & Statistics from the Hebrew Universityof 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 israpidly increasing its position in the Virtual Reality industry. Orad's lines ofproducts include virtual sets, on-air graphics systems, virtual advertising,sports production solutions and hardware for the Virtual Reality industry. Oradis a publicly traded company in the Prime Standard on Frankfurt'sWertpapierborse Prime Standard and Alternative Investment Market of the LondonStock Exchange (symbol: OHT). www.orad.tv For further information contact:ORAD Hi-Tec Systems LtdEhud Ben-Yair 972 9 7676 862C.F.O [email protected] Shore CapitalGraham Shore, London, UK 44 20 7408 4090 Edicto Investor RelationsDr. Sonke Knop, Frankfurt Germany 49 608494859-1 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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