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Formula Systems Announces Annual General Meeting Of Shareholders

OR YEHUDA, Israel, February 21, 2013 /PRNewswire/ --



Formula Systems (1985) Ltd. (NASDAQ: FORTY) today announced that it will hold its Annual General Meeting of Shareholders on Tuesday, April 2, 2013. The record date for shareholders entitled to vote at the Annual Meeting is February 26, 2013.

The agenda for the meeting is as follows:

  1. The re-election of Mr. Marek Panek and Ms. Dafna Cohen, and election of Mr. Rafal Kozlowski, to Formula's Board of Directors, each for a term expiring at Formula's next Annual General Meeting of Shareholders;
  2. The election of Mr. Eli Zamir and Ms. Iris Yahal as external directors of Formula, each to hold office for a three-year term, subject to, and in accordance with, the provisions of the Israeli Companies Law, 5759-1999, or the Companies Law, and the approval of the terms of their compensation;
  3. Subject to his election pursuant to Item 1 above, the approval of the compensation to be paid to Mr. Kozlowski as a member of the Board of Directors; and
  4. The ratification and approval of the re-appointment of Kost Forer Gabbay & Kasierer, registered public accounting firm, a member firm of Ernst & Young Global, as Formula's independent registered public accounting firm for the year ended December 31, 2012 and until its next annual general meeting of shareholders, and the authorization of Formula's audit committee to determine the compensation of such accounting firm.

In addition, members of Formula's management will be available to review and discuss Formula's auditor's report and consolidated financial statements for the year ended December 31, 2011.

Approval of each of Items 1, 2, 3 and 4 above requires the affirmative vote of the holders of a majority of the voting power represented at the Annual Meeting in person or by proxy and voting on the item.

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