LEI: 213800FLQUB9J289RU66
1 February 2023
BATM Advanced Communications Limited
("BATM" or "the Group")
Appointment of Chief Financial Officer
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces the appointment of Ran Noy as Chief Financial Officer of the Group with immediate effect. This follows the promotion of Moti Nagar, the previous CFO, to Chief Executive Officer on 1 January 2023. Mr. Noy will also be appointed to the Board of BATM subject to, in accordance with the Group's articles of association and the Israeli Companies Law, shareholder approval at a general meeting that is to be convened.
Mr. Noy, aged 43, has been serving as VP Finance of BATM since joining the Group in 2021. During this time, he assisted Mr. Nagar in discharging his responsibilities as CFO, including regulatory obligations with regards to the London Stock Exchange and Tel Aviv Stock Exchange.
Prior to BATM, Mr. Noy spent 10 years in the finance department, latterly as Financial Reporting Manager, at ADAMA Ltd., a global agri-chem business that delivered sales of $5bn in 2021. In this role, he was responsible for ADAMA's financial reporting to the Shenzhen Stock Exchange and the Tel-Aviv Stock Exchange as well as to the management team and Board of Directors. Mr. Noy implemented and managed financial systems that covered more than 70 subsidiaries worldwide. He was also instrumental in ADAMA's listing on the Shenzhen Stock Exchange via the reverse takeover of a subsidiary of ChemChina and was responsible for the financial integration of that business. Mr. Noy is an Israeli Certified Accountant who began his career as an auditor at EY Israel.
Moti Nagar, CEO of BATM, said: "We are delighted to appoint Ran as our new CFO. He has made a valuable contribution to BATM since joining us, building on his experience with other international, public companies. This is an exciting time for BATM, and I look forward to what lies ahead."
There is no further information required to be disclosed in relation to Mr. Noy pursuant to Listing Rule 9.6.13 and Mr. Noy does not have any beneficial interest in BATM's ordinary shares.
An accessible version of this announcement can be found on the Group's website at www.batm.com
Enquiries:
| BATM Advanced Communications | |
| Moti Nagar, Chief Executive Officer Ran Noy, Chief Financial Officer | +972 9866 2525 |
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| Shore Capital | |
| Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory) | +44 20 7408 4050 |
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| Gracechurch Group | |
| Harry Chathli, Claire Norbury | +44 20 4582 3500 |
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