REQUISITIONING OF A GENERAL MEETING
October 20 2008 - 8:34AM
UK Regulatory
PILAT TECHNOLOGIES INTERNATIONAL LTD
REQUISITIONING OF A GENERAL MEETING
Pilat Technologies International Ltd ("the Company") announces that it was
notified on 19 October 2008 that Go.D.M and Alpha Fund, both shareholders in
the Company, have given notice of the requisitioning of a general meeting (the
"Requisition").
The resolutions proposed in the Requisition are the removal of David Sapiro,
Chaim Helfgott and Trevor Toolan and the appointment of Dov Goldstein, Chairman
and CEO of Go.D.M, David Johan and Gabby Dishi, CEO of Alpha Fund as directors
of the Company. It should be noted that, as announced on 15 October 2008, David
Sapiro has given notice of his resignation as a director, which will take
effect on 27 November 2008.
Go.D.M. and Alpha Fund together hold approximately 14.5 per cent. of the issued
share capital of the Company. Under Israeli company law, shareholders holding
in excess of 10 per cent of the share capital can validly requisition a general
meeting. The Company has 21 days from the notice of requisition to convene the
general meeting, which must take place within 35 days thereafter. The Board
will meet to discuss the Requisition.
The Requisition also stated that Go.D.M and Alpha Fund have entered into an
agreement pursuant to which each party has a right of first refusal on the sale
of shares of the Company by the other party, as well as a right to participate
in any sale of such shares by the other party.
Pilat Technologies International Ltd 00 972 3 767 9200
Chaim Helfgott, Corporate Secretary
Hanson Westhouse Limited 0113 246 2610
Tim Feather
Matthew Johnson
END
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