Amiad Water Systems Ltd Completion of Investment and Directorate Change (5817L)
May 01 2020 - 3:00AM
UK Regulatory
TIDMAFS
RNS Number : 5817L
Amiad Water Systems Ltd
01 May 2020
1 May 2020
Amiad Water Systems Ltd.
("Amiad" or the "Company")
Completion of Investment and Directorate Change
Further to the Company's announcements of 27 February and 29
April 2020, Amiad (AIM: AFS), a leading global producer of water
treatment and filtration solutions, announces that the 7,652,174
new Ordinary Shares issued pursuant to the Subscription and Open
Offer have been admitted to trading on AIM today ("Admission"). As
a result of Admission, the Capital Raising has completed raising
gross proceeds for the Company of approximately GBP15.63 million
from FIMI pursuant to the Subscription and GBP1.97 million from
certain existing shareholders under the Open Offer.
In accordance with the terms of the Relationship Agreements and
the HaChoshlim/FIMI Share Purchase Agreement and with effect from
Admission, Mr Ishay Davidi has joined the Board of Amiad and each
of the following has resigned as directors of the Company: Mr Dori
Ivzori, Ms Jenny Cohen Derfler and Ms Zehava Simon. Mr Ivzori
continues to serve as the Chief Executive Officer of the
Company.
Mr Ivzori, along with Mr Avishay Afriat, Chief Financial
Officer, will continue to be responsible, along with the Board, for
the Company's compliance with the AIM Rules and for providing the
Board with information that the Company needs in order to comply
with those Rules. They will also continue to attend Board meetings
when requested to do so by the Board.
Further to the announcement made on 4 March 2020, it is noted
that no additional information is required to be disclosed pursuant
to paragraph (g) of Schedule 2 of the AIM Rules in relation to the
appointment of Mr Davidi.
Mr Yariv Avisar, Chairman of Amiad, said:
"We are delighted to have completed this important capital
raising and appreciate the strong support shown for it by both FIMI
and other shareholders."
"We also warmly welcome Ishay Davidi to the Board of Amiad with
his extensive background in business and finance, as well as his
experience as a director of various public companies. We look
forward to benefiting from his expertise, and that of Lilach
Asher-Topilsky and Ran Shahor, who also recently joined the Board,
as Amiad enters the next chapter in its development."
"We would like to thank Jenny Cohen Derfler and Zehava Simon for
their valuable contributions to Amiad over the years and wish both
of them the very best in their future endeavours. We also look
forward to continuing to work closely with Dori Ivzori in his role
as CEO."
Unless otherwise defined, capitalised terms used in this
announcement shall have the same meanings as defined in the
circular sent to shareholders of the Company on 27 February
2020.
Enquiries
Amiad Water Systems Ltd.
Dori Ivzori, Chief Executive
Officer
Avishay Afriat, Chief Financial
Officer +972 4 690 9500
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Stifel Nicolaus Europe Ltd.
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Stewart Wallace, Ben Maddison +44 20 7710 7600
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Luther Pendragon
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Harry Chathli, Claire Norbury,
Rachel So +44 20 7618 9100
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About Amiad
Amiad Water Systems (AIM: AFS) is a leading global producer of
automatic, self-cleaning water treatment and filtration products
and systems. Through its engineering skills and ability to
innovate, Amiad provides cost-effective "green" solutions for the
irrigation and industrial purposes. In these markets, its unique
and high-quality products are being integrated into the core of
systems for filtration and water treatment, micro irrigation and
membrane protection, wastewater and potable water treatment,
cooling systems and sea water filtration.
Headquartered in Israel, Amiad provides these solutions through
ten subsidiaries and a comprehensive network of distributors to
customers in more than 80 countries.
For additional information or product details, please visit
www.amiad.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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