YAHUD, Israel, August 21 Magal-Security
YAHUD, Israel, August 21 /PRNewswire-FirstCall/ -- Magal Security
Systems, Ltd. (NASDAQ GM: MAGS; TASE: MAGS), today announced the results of
its Annual General Meeting of Shareholders held on August 20, 2008, at the
Company's headquarters in Yehud, Israel.
Following are the meeting results with respect to the different items on
the agenda:
1. Election of Jacob Perry, Jacob Even-Ezra, Izhar Dekel,
Nathan Kirsh, Jacob Nuss and Zeev Livne as Directors of the Company -
was approved
2. Terms of compensation for certain of the Company's
Directors - was approved
3. Terms of compensation of Mr Jacob Perry, Chairman of the
Board - was approved.
4. Extension of the exercise period of Share Options granted
to Mr. Jacob Even-Ezra, a Company Director and former Chairman of the
Board - was approved
5. Grant of a bonus to Mr Izhar Dekel, the Company's Chief
Executive Officer - was not approved
6. Amendment to the Company's Articles of Association
providing for the grant of the authority to appoint, dismiss and set
the terms of employment Company officers (excluding the Company's
Directors and Chief Executive Officer) to the Company's Chief
Executive Officer - was not approved
7. Amendments to the Company's Articles of Association in
order to conform those provisions with respect to Directors and
Officers liability insurance and indemnification to meet the
requirements of the Israeli Companies Law - was approved.
8. Amendment to the Company's 2003 Israeli Share Option Plan,
to extend its term and to increase the number of ordinary shares
reserved and authorized for issuance thereunder - was approved
9. Reappointment of Kost Forer Gabbay & Kasierer, independent
registered public accountants, a member firm of Ernst & Young Global,
as the Company's independent registered public accountants for the
year ending December 31, 2008 and to authorize the Company's audit
committee to fix the remuneration of the auditors in accordance with
the volume and nature of their services - was approved
About Magal Security Systems, Ltd.
Magal Security Systems Ltd. (Magal) is engaged in the development,
manufacturing and marketing of computerized security systems, which
automatically detect, locate and identify the nature of unauthorized
intrusions. The Company's products are currently used in more than 70
countries worldwide to protect national borders, airports, correctional
facilities, nuclear power stations and other sensitive facilities from
terrorism, theft and other threats.
Magal trades under the symbol MAGS in the U.S. on the Nasdaq Global
Market and in Israel on the Tel-Aviv Stock Exchange (TASE).
Contacts:
Company Investor Relations
Magal Security Systems, Ltd Gelbart Kahana Investor Relations
Lian Goldstein, CFO Ehud Helft/Kenny Green
Tel: +972-3-5391444 Tel: +1-866-704-6710
Fax: +972-3-5366245 E-mail: info@gkir.com
E-mail: magalssl@trendline.co.il
SOURCE Magal Security Systems Ltd
