Mr. Alexander Galitsky has been appointed as an Independent Non-Executive Director of the Company. Mr.Galitsky is a co-founder and Managing Partner of Almaz Capital, an international venture fund based in California. The fund was backed in 2008 by Cisco Systems, EBRD and IFC. Among the most well-known transactions undertaken by Almaz Capital are Yandex (IPO NASDAQ), QIK (sold to Skype) and SensitySystems (sold to Verizon Communications). Mr. Galitsky is a well-known innovator, entrepreneur and investor in the United States and Europe and has founded five successful high-tech companies: ELVIS+, TrustWorksSystems (sold to Hamsard), EzWIM (sold to TMT Ventures), ELVIS Telecom (sold to Telenor) and NPC ELVIS, all of which he led as CEO. Currently he serves as a member of the Board of Directors at: CarPrice,Jelastic, Octonion/PIQ, Parallels, PetCube and StarWind, and as Institute Advisor at the B612 Foundation. Mr.Galitsky has a Ph.D. in Computer Science and holds a Master’s degree in Physics.