BATM Advanced Communications Ld Notice of Shareholders' Meeting and Options Grant (3979N)
May 08 2018 - 9:06AM
UK Regulatory
TIDMBVC
RNS Number : 3979N
BATM Advanced Communications Ld
08 May 2018
LEI: 213800FLQUB9J289RU66
8 May 2018
BATM Advanced Communications Limited
("BATM" or "the Group")
Notice of Special Shareholders' Meeting and Grant of Options
BATM Advanced Communications Limited (LSE: BVC), a leading
provider of real-time technologies for networking solutions and
medical laboratory systems, gives notice that a special
shareholders' meeting (the "Meeting") of the Company is to be held
at the offices of Luther Pendragon Limited, 48 Gracechurch Street,
London, EC3V 0EJ on 6 June 2018 at 9.30am BST.
The Notice of Special Shareholders' Meeting circular, which
includes information on the resolutions to be considered at the
Meeting, along with forms of proxy and direction, have been
published on BATM's website:
http://www.batm.com/investor-relations/agm-egm/ and hard copies
will be posted to shareholders on or around 10 May 2018.
Among the items to be considered at the Meeting is the grant of
the following long-term incentives to Dr Zvi Marom, CEO of the
Company, conditional on independent shareholder approval:
-- A grant of four million options to purchase BATM ordinary shares of NIS 0.01 each.
-- The exercise price per share will be the average price of the
Company's shares on the London Stock Exchange in the month
preceding the date of shareholder approval of the grant.
-- Half of the options will vest at the end of 24 months from
the date of grant and the other half at the end of 36 months,
provided that Dr Marom remains in his position at the Company as at
the date of each vesting and that the Group has achieved a gross
profit of at least $33 million for the previous calendar year in
which the vesting date falls.
The total number of options over ordinary shares to be granted
represents 0.99% of the current issued share capital of 403,300,820
ordinary shares. Dr Marom holds 23.98% of the current issued share
capital.
Enquiries:
BATM Advanced Communications
------------------------------- -----------------
Dr Zvi Marom, Chief Executive
Officer +972 9866 2525
------------------------------- -----------------
Moti Nagar, Chief Financial
Officer
------------------------------- -----------------
Shore Capital
------------------------------- -----------------
Mark Percy, Anita Ghanekar +44 20 7408 4050
------------------------------- -----------------
Luther Pendragon
------------------------------- -----------------
Harry Chathli, Claire Norbury +44 20 7618 9100
------------------------------- -----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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