Formula Systems Announces Annual General Meeting Results

• Press Release
• Source: Formula Systems Ltd.
• On 1:32 pm EDT, Thursday October 29, 2009

HERZLIYA, Israel, October 29 /PRNewswire-FirstCall/ -- Formula Systems (1985) Ltd (the "Company") (NASDAQ: FORTY; TASE: FORT) a leading provider of information technology products, solutions and services, announced today the results of the Company's annual general meeting of shareholders which was held on October 29, 2009 at the Company's offices in Herzliya, Israel.

The following resolutions were approved by the shareholders:

1. The appointment of Naftali Shani, Shimon Laor, Tal Barnoach, Dafna Cohen and Dr. Shlomo Nass as directors of the Company;

2. The reappointment of Dr. Ronnie Vinkler and Ofer Lavie as outside directors for an additional three-year term;

3. The reappointment of BDO Ziv Haft as the Company's independent auditor; and the authorization of the Board of Directors to delegate to the Audit Committee the authority to fix their remuneration.

About Formula

Formula Systems Ltd. is a global information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products and providing computer-based business solutions.

Contact: Guy Bernstein, chief executive officer, Formula Systems Ltd. +972-9-959-8800