VALLEY COTTAGE, N.Y., Feb. 11 XTLBiopharmaceuticals Ltd. (Nasdaq: XTLB; TASE: XTL) today announced that Mr.David Grossman and Mr. Boaz Shweiger have been appointed to XTL's Board ofDirectors, effective today. In addition, Mr. Grossman will also be assumingthe role of Co-Chief Executive Officer, with no remuneration, to assist inXTL's analysis of its strategic alternatives.
Ron Bentsur, Co-Chief Executive Officer of XTL, commented, "We decided tomake these appointments at this time in order to ensure management continuityand a more effective transition in the event that at the upcoming March 11shareholders' meeting, the proposed slate of directors are elected."
Mr. Grossman, 34, served as a Vice President of Eurocom Investments LP, aprivate equity fund focused on long-term investments mainly in Israeli publiccompanies, from March 2006 to December 2008. Also from March 2006 to December2008, Mr. Grossman was Vice President of Sahar Investments Ltd, (TASE: SAIN)which focused on investments in the Life Sciences arena. From July 2003 toMarch 2006, Mr. Grossman was a Senior Analyst at Israel Health Care Ventures,an Israeli healthcare venture capital fund. From 2001 to March 2003, Mr.Grossman was a senior investment banker with Reliance Capital Ltd. From 2001-2003, he was a partner of Magna Business Development, a consulting boutique.In addition, Mr. Grossman is currently a director and member of the auditcommittee of Bio Light Israeli Life Science Investments Ltd. (TASE: BOLT)since December 2008, and from May 2007 to July 2008 was a Director and memberof the audit committee of Gilat Satcom Ltd. (AIM: GLT). Mr. Grossman receiveda BA business administration with a focus on information technology, from theInterdisciplinary Center Herzliya.
Mr. Shweiger, 33, has served as a partner and Managing Director of Sean S.Holdings Ltd., a private investment company, since August 2005. Mr. Shweigerwas an attorney at S. Horowitz & Co, practicing commercial law, from June 2001to January 2005. From December 2001 to April 2005, Mr. Shweiger served asDirector and a member of the investment committee of Isal Amlat Investments(1993) Ltd., an investment company (TASE: ISAL), engaged in the fields ofindustry, commerce, real estate and advanced technologies services. Mr.Shweiger received an LL.B, magna cum laude, from the College of Management andan MBA in finance and auditing from Tel - Aviv University.
XTL also announced that its appeal hearing date for its Nasdaq listing hasbeen changed to March 19, 2009 from March 12, 2009.
Some of the statements included in this press release, particularly thoseanticipating future business prospects growth and operating strategies andsimilar matters, may be forward-looking statements that involve a number ofrisks and uncertainties. For those statements, we claim the protection of thesafe harbor for forward-looking statements contained in the Private SecuritiesLitigation Reform Act of 1995. Among the factors that could cause our actualresults to differ materially is our ability to maintain our Nasdaq StockMarket listing and our ability to continue to fund our operations; our abilityto successfully find successful merger or in-licensing opportunities or otherfactors; and other risk factors identified from time to time in our reportsfiled with the Securities and Exchange Commission, including our annual reporton Form 20-F filed with the Securities and Exchange Commission on March 27,2008. Any forward-looking statements set forth in this press release speakonly as of the date of this press release. We do not intend to update any ofthese forward-looking statements to reflect events or circumstances that occurafter the date hereof. This press release and prior releases are available athttp://www.xtlbio.com. The information in our website is not incorporated byreference into this press release and is included as an inactive textualreference only.
SOURCE XTL Biopharmaceuticals Ltd.