logo-loader
RNS
BATM Advanced Communications Ltd

BATM Advanced Comm - Notice of Shareholders' Meeting and Options Grant

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
 
 
MSCGMGGKDRFGRZM
NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read