MTT Metal-Tech

    RNS Number : 7253A
  Metal-Tech Ltd
  06 August 2008
   

    6 August 2008


    Metal-Tech Ltd
    ("Metal-Tech" or "the Company")

    Notice of AGM 

    Metal-Tech announces that the annual general meeting of the Company (the "AGM") is to be held at 11:00am BST on Wednesday 17 September
2008 at St. Magnus House, 3 Lower Thames Street, London EC3R 6HE. A circular to shareholders, which includes the notice of the AGM, has been
posted today and will shortly be available on the Company's website (www.metal-tech.co.il).  

    The business to be conducted at the AGM will be to consider and, if thought fit, pass resolutions: 
    *     to receive the Company's audited financial statements for the year ended 31 December 2007;

    *     to re-appoint Kost Forer Gabbay & Kasierer (a member firm of Ernst & Young Global) as the Company's auditors;

    *     to authorise the directors of the Company to fix the remuneration of the Company's auditors;

    *     to re-appoint Dr Graham Lawson as a director of the Company who retires in accordance with Article 47 of the Company's Articles of
Association (the "Articles") and, being eligible, offers himself for re-appointment;

    *     to re-appoint Mr Peter Syme as a director of the Company who retires in accordance with Article 47 of the Articles and, being
eligible, offers himself for re-appointment;

    *     to remove Mr Ran Maimon, who ceased to be the chief executive officer of the Company in April 2008, as a director of the Company;


    *     to appoint Mr Jonathan Ben-Cnaan as a director of the Company;

    *     to approve the draft letter of appointment as a director of the Company between the Company and Mr Ben-Cnaan;


    *     to approve the draft agreement between the Company and Mr Ben-Cnaan in respect of his employment as chief executive officer;

    *     to approve the draft indemnification agreement between the Company and Mr Ben-Cnaan;

    *     to approve the draft vehicle lease agreement between the Company and Zenith Investments Ltd.; 

    *     to approve the 2008 Israeli share option plan of the Company;
 
    *     to approve the draft option agreement between the Company and Mr Ben-Cnaan;
to grant authority to the directors to allot shares in the Company; and

    * to approve the draft agreement between the Company and Ms Niri Rosenberg in respect of her employment as a part-time tungsten
salesperson (or similar position).

    Copies of the circular and notice of AGM are available from Panmure Gordon (UK) Limited, Moorgate Hall, 155 Moorgate, London EC2M 6XB,
England. 

    Under the Israeli Companies Law, 5759-1999 ("Israeli Law"), companies incorporated under the laws of the State of Israel, which shares
have been offered to the public in or outside Israel, are required to appoint two external directors within three months following such
offering.  The appointment of one of the Company's two current external directors, Ms Michaela Shamir-Chartoff, will expire, in accordance
with Israeli Law, on 20 September 2008. Ms Shamir-Chartoff will not be reappointed due to her desire to focus on other business interests. 
The Company will issue a further announcement once a proposed successor to Ms Shamir-Chartoff has been selected.


    Enquiries:

 Metal-Tech                                             
 Jonathan Ben-Cnaan, Chief Executive Officer     +972 3 7419190
                                                                 
 Panmure Gordon                                                  
 Grant Harrison, Jonathan Lack, Stuart Gledhill  +44 20 7459 3600
                                                                 
 Corfin Communications                                           
 William Cullum, Harry Chathli                   +44 20 7977 0020



This information is provided by RNS
The company news service from the London Stock Exchange
 
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