Amiad Water Systems Ltd Appointment of CFO (8366H)

TIDMAFS

RNS Number : 8366H

Amiad Water Systems Ltd

08 December 2020

8 December 2020

Amiad Water Systems Ltd.

("Amiad" or the "Company")

Appointment of Chief Financial Officer

Further to the Company's announcement of 28 October 2020, Amiad (AIM: AFS), a leading global producer of water treatment and filtration solutions, announces the appointment of Relly Shimko as Chief Financial Officer ("CFO") of the Company with immediate effect.

While, similar to her predecessor, Mrs Shimko is not being appointed to the Board of Amiad, she will be responsible, along with the Board and Dori Ivzori, 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. She will also attend Board meetings when requested to do so by the Board.

Mrs Relly Shimko (neé Rozenbaum), aged 49, is a Certified Public Accountant with over 20 years' experience in managing the financial operations of companies in Israel and the USA. This includes three years as CFO of Gadot Chemical Tankers & Terminals Ltd of the Gadot Group, an international leader in operations service provision and supply and value chain management in the chemical industry, where she had overall responsibility for the group's financial systems and reporting as well as leading a number of M&A transactions. She also spent four years as CFO of Retalix USA, Inc, a global enterprise technology provider for the retail and hospitality industries.

Other experience includes working as a Controller at Apax Partners, one of the world's largest private equity and venture capital firms. In this role, Mrs Shimko managed the financial tracking of portfolio companies in Israel from investment to exit and was involved in a number of financial transactions. Mrs Shimko began her career as an auditor with a local firm before becoming Auditor Supervisor at PricewaterhouseCoopers in Tel Aviv, Israel.

Yariv Avisar, Chairman of Amiad, said: "We are pleased to welcome Relly Shimko as CFO of Amiad. She brings great experience of working with global companies and investment communities. We look forward to benefiting from her expertise as we continue to progress and seek to expand our business."

Other than the below, there are no other matters required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies as regards Mrs Shimko's appointment. Mrs Shimko has no shareholding in the Company.

 
 Current directorships/partnerships   Directorships/partnerships within 
                                       the last five years 
 K.H.R Pharmaceutical Study Funds     VLS-GROUP GERMANY GMBH 
                                       VLS-Group Belgium NV 
                                       Chemship BV 
                                     ---------------------------------- 
 

Enquiries

 
 Amiad Water Systems Ltd. 
 Yariv Avisar, Chairman 
  Dori Ivzori, Chief Executive 
  Officer                         [phone] 
                                 ----------------- 
 
 Stifel Nicolaus Europe Ltd. 
                                 ----------------- 
 Stewart Wallace, Ben Maddison    [phone] 
                                 ----------------- 
 
 Luther Pendragon 
                                 ----------------- 
 Harry Chathli, Claire Norbury    [phone] 
                                 ----------------- 
 

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 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.

FIMI Opportunity Funds, the leading private equity investor in Israel, is a controlling shareholder of Amiad, with an interest in 39.5% of the Company's outstanding issued share capital.

For additional information or product details, please visit www.amiad.com

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December 08, 2020 02:00 ET (07:00 GMT)