SimiGon Limited Executive Management & Directorate Change (6262K)

TIDMSIM

RNS Number : 6262K

SimiGon Limited

30 August 2019

SimiGon Ltd

("SimiGon", or the "Company")

Executive Management & Directorate Change

SimiGon, Ltd. (LSE: SIM), a global leader in modelling, simulation and training solutions, is pleased to announce, further to the announcement dated 1 August 2019, the appointment of a Chief Operating Officer of Simigon Inc., the main trading subsidiary of the Company, and a further change to the composition of the Company's Non-Executive board.

Chief Operating Officer

Jack Sarnicki has been appointed as Chief Operating Officer of Simigon Inc. Mr. Sarnicki has been identified as the best person to drive the Company's US business forward and will work alongside Ami Vizer and the rest of the executive team to execute on existing opportunities as well as driving new business opportunities.

Mr. Sarnicki has over 24 years' experience in the United States Air Force ("USAFR") where he held communication, combat and technical engineering positions, ending his military career as Chief Evaluation Engineer at the USAF's Simulation & Analysis Facility. Mr. Sarnicki was also a command pilot having flown five different USAF aircraft types during his career. Over the last thirty years Mr. Sarnicki has held multiple private sector sales and management positions for various aerospace and defence businesses. Most recently Mr. Sarnicki held the position of Chief Operating Officer at VT-Miltope, where he was responsible for the daily management and operation of a $70 million ruggedized computer manufacturer selling directly to the U.S. government, defense contractors and commercial aerospace companies. The Board believe his military and civilian careers make him a perfect candidate to spearhead the growth of the Company's operations with a clear focus on accelerating revenue growth.

Non-Executive Director

Deborah Bitman has decided to step down from the Board of Directors and her position as Independent Non-Executive Director. Mrs. Bitman will be replaced by Mrs. Ronit Schwartz subject to the approval of her appointment by the Company's shareholders. Mrs. Schwartz has considerable experience at board level of government and publicly-traded companies, and has held a wide variety of executive and non-executive roles during the course of her career. Mrs. Schwartz is currently a director at Petroleum & Energy Infrastructures, Ltd., Elad Canada and Amir Agricultural Investments, Ltd. Mrs. Schwartz has 21 years' experience in banking part of them as a financial executive and deputy director, skilled in finance, credit risk, foreign currency trading, budgeting and corporate governance. Mrs. Schwartz holds a BA in Economics and MBA in Marketing and Finance from Tel Aviv University.

Ami Vizer, SimiGon's Chief Executive Officer and Chairman said: "I am delighted to welcome Jack Sarnicki and Ronit Schwartz to the SimiGon team as we continue to strengthen our corporate structure and strategic reach. I am confident that Jack's considerable experience in both the USAF and various related commercial roles will be of great benefit to the Company as we focus on delivering further revenue growth in the future. Jack has a large number of relevant contacts in the industries which we see as our main customer bases and we are confident that he will be able to utilise these as we continue to broaden our customer base in line with our ever developing service offerings.

Mrs. Schwartz brings significant financial and banking experience as she joins the board as Independent Non-Executive Director and I am confident that her considerable experience and knowledge will be of great benefit to the Company".

Enquiries:

 
 SimiGon Ltd 
 Ami Vizer, Chief Executive Officer/Chairman       [phone] 
 Efi Manea, Chief Financial Officer 
 
 finnCap (NOMAD & Broker)                          [phone] 
 Scott Mathieson / Matthew Radley (corporate 
  finance) 
 

About SimiGon

SimiGon (AIM: SIM) is a leading developer and supplier of distributed simulation solutions for defence and civilian applications. SimiGon is the creator of SIMbox, a leading PC-based platform for creating, managing and deploying simulation-based content across multiple domains. Through its off the-shelf training solutions for demanding high-skill occupations, SimiGon provides diverse organizations with faster and more cost-effective training. SimiGon's growing client base includes blue-chip training and simulation systems providers as well as air forces and commercial airlines worldwide. Founded in 1998, SimiGon maintains offices in Israel and the United States.

The following information regarding Ronit Schwartz (aged 53) is disclosed under Schedule 2(g) of the AIM Rules for Companies:

 
 Current Directorships               Directorships held in the past 
                                      5 years 
 Petroleum & energy Infrastructure   The Port of Ashdod Company Ltd 
  Ltd 
                                    ------------------------------- 
 Elad Canada realty Inc.             Chim-Nir Group 
                                    ------------------------------- 
 Amir Agricultural Investments       Ronit Schwartz Pollack Ltd 
  Ltd 
                                    ------------------------------- 
                                     2theloo Israel Ltd 
                                    ------------------------------- 
 

As at the date of this announcement, Ronit Schwartz is not beneficially interested in any Ordinary Shares in the Company.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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 [e-mail] or visit www.rns.com.

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August 30, 2019 02:01 ET (06:01 GMT)