XTL Biopharmaceuticals Announces Appointment of David Grossman and Boaz Shweiger to Board of Directors
12 February 2009 - 8:05AM
PR Newswire (US)
VALLEY COTTAGE, N.Y., Feb. 11 /PRNewswire-FirstCall/ -- XTL
Biopharmaceuticals Ltd. (NASDAQ:XTLB)(TASE:XTL) today announced
that Mr. David Grossman and Mr. Boaz Shweiger have been appointed
to XTL's Board of Directors, effective today. In addition, Mr.
Grossman will also be assuming the role of Co-Chief Executive
Officer, with no remuneration, to assist in XTL's analysis of its
strategic alternatives. Ron Bentsur, Co-Chief Executive Officer of
XTL, commented, "We decided to make these appointments at this time
in order to ensure management continuity and a more effective
transition in the event that at the upcoming March 11 shareholders'
meeting, the proposed slate of directors are elected." Mr.
Grossman, 34, served as a Vice President of Eurocom Investments LP,
a private equity fund focused on long-term investments mainly in
Israeli public companies, from March 2006 to December 2008. Also
from March 2006 to December 2008, Mr. Grossman was Vice President
of Sahar Investments Ltd, (TASE:SAIN) which focused on investments
in the Life Sciences arena. From July 2003 to March 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 audit committee of Bio Light
Israeli Life Science Investments Ltd. (TASE:BOLT) since December
2008, and from May 2007 to July 2008 was a Director and member of
the audit committee of Gilat Satcom Ltd. (AIM: GLT). Mr. Grossman
received a BA business administration with a focus on information
technology, from the Interdisciplinary 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. Shweiger was an attorney at S. Horowitz & Co, practicing
commercial law, from June 2001 to January 2005. From December 2001
to April 2005, Mr. Shweiger served as Director and a member of the
investment committee of Isal Amlat Investments (1993) Ltd., an
investment company (TASE:ISAL), engaged in the fields of industry,
commerce, real estate and advanced technologies services. Mr.
Shweiger received an LL.B, magna cum laude, from the College of
Management and an MBA in finance and auditing from Tel - Aviv
University. XTL also announced that its appeal hearing date for its
Nasdaq listing has been changed to March 19, 2009 from March 12,
2009. Cautionary Statement Some of the statements included in this
press release, particularly those anticipating future business
prospects growth and operating strategies and similar matters, may
be forward-looking statements that involve a number of risks and
uncertainties. For those statements, we claim the protection of the
safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. Among the factors that
could cause our actual results to differ materially is our ability
to maintain our Nasdaq Stock Market listing and our ability to
continue to fund our operations; our ability to successfully find
successful merger or in-licensing opportunities or other factors;
and other risk factors identified from time to time in our reports
filed with the Securities and Exchange Commission, including our
annual report on Form 20-F filed with the Securities and Exchange
Commission on March 27, 2008. Any forward-looking statements set
forth in this press release speak only as of the date of this press
release. We do not intend to update any of these forward-looking
statements to reflect events or circumstances that occur after the
date hereof. This press release and prior releases are available at
http://www.xtlbio.com/. The information in our website is not
incorporated by reference into this press release and is included
as an inactive textual reference only. DATASOURCE: XTL
Biopharmaceuticals Ltd. CONTACT: Ron Bentsur, Chief Executive
Officer of XTL Biopharmaceuticals Ltd., +1-845-267-0707 ext. 224
Web Site: http://www.xtlbio.com/
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