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ELSIGHT LIMITED — Remuneration Information 2018
Nov 14, 2018
64836_rns_2018-11-14_7a980491-a842-4886-a273-7508a2284e05.pdf
Remuneration Information
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ASX Announcement
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15 November 2018
Chief Executive Officer Remuneration
Elsight Limited (ASX: ELS ) ( Elsight or Company ) advises that an internal performance review was recently concluded on its CEO, Nir Gabay.
As part of his performance review, the directors considered a salary survey by the Nisha Group showing remuneration levels for company officers in Israel in 2018.
Since the Company’s listing on the ASX, under Mr Gabay’s stewardship, the Company has reached certain milestones set out in its Prospectus, raised over AU$9 million in a secondary offering and increased its share price by as much as approximately fourfold since listing. Having considered Mr Gabay’s total remuneration including his entitlements under the Company’s ESOP, the directors noted that Mr Gabay’s aggregate remuneration is below market.
The Board has agreed to increase his salary by ILS 27,389 per month to a total of ILS 772,668 per annum (circa AU$290,000 which would bring Mr Gabay’s cash remuneration within the band for the CEO of small, high tech companies. The board has agreed to pay ILS $189,679 (circa AU$50,000) up front. This salary will be reviewed annually subsequent to a performance review which will include his performance against a set of KPIs to be set before the start of the new year. In line with good corporate practice, the KPIs will be agreed mutually and created to support the short and long-term goals of the Company.
-ENDS-
For more information, please contact:
Corporate Enquiries
Nathan Barbarich RM Corporate Finance T: +61 6380 9200 E: [email protected]
Justin Rosenberg Gleneagle Securities T: +61 2 8277 6683 E: [email protected]
Australian Media and Business Enquiries
Howard Digby Elsight Limited T: +61 434 987 750 E: [email protected]
About Elsight
Elsight (www.elsight.com) is a solution provider of ground-breaking hybrid video and data transport services (on-themove or fixed) for large Safe-City projects, sensitive facilities management, and surveillance and protective activities. The platform supports video capturing, recording, and highly secured transmission against video interception and hacking. Elsight ’s platform was designed to address the most demanding requirements of Special Forces across enemy lines and sophisticated intelligence organizations. These systems underwent the most rigorous testing in combat situations as well as extensive testing by the most demanding laboratories. As a result, they present an unmatched level of reliability, lowest latency, and highest adaptive bandwidth over cellular networks that enables HD and 4K tv transmission quality, with “never-fail” redundancy and much more. For the first time they offer strict military requirements for civil usage. Elsight ’s customers range from defence and homeland security, industrial security, broadcasting, first responders and healthcare.
Elsight Limited ACN 616 435 753 T: +61 8 6189 1155 | A: C/- Platinum Corporate Secretariat, Level 2, 46-50 Kings Park Road, West Perth WA 6005