ART Advanced Research Technologies Announces Results of the 2008 Annual Shareholders' Meeting
28 May 2008 - 4:47AM
Marketwired
MONTREAL, CANADA (TSX: ARA), a Canadian medical device company
and a leader in optical molecular imaging products for the
healthcare and pharmaceutical industries, is pleased to announce
that it held its annual shareholders' meeting in Montreal on May
27, 2008. At the meeting, the shareholders of the Company elected
the members of the Board of Directors who will serve until the next
annual shareholders' meeting. Immediately following the annual
meeting of shareholders, the Board of Directors appointed Mr.
Sebastien Gignac Chairman of the Company, succeeding Mr. Benoit
LaSalle who is stepping down after over five years in that
role.
The number of Board members was reduced from six to four,
effective as of the close of the annual meeting. The directors of
the Company, who were elected until the next annual meeting of
shareholders, are: Mr. Jacques Courville, Former Vice President,
Medical Research of Merck Frosst Canada Inc.; Mr. Raymond Cyr,
Chairman of the Board, Polyvalor Inc.; Mr. George N. Fugelsang,
Former CEO of Dresdner Kleinwort Benson North America; and Mr.
Sebastien Gignac, Chairman & CEO of ART. Mr. Raymond Cyr will
act as lead director of the Board.
ART shareholders also approved a resolution to amend both the
employee stock option plan and the director stock option plan of
the Company to change the maximum number of common shares reserved
for issuance under all security-based compensation arrangements of
the Company from 8% to 10% of the outstanding issue (as defined in
the employee stock option plan and director stock option plan of
the Corporation) and to make consequential amendments (Resolution
2008-1). Finally, shareholders approved a resolution to adopt a
deferred share unit plan for the directors of the Company,
including setting the maximum number of common shares of the
Company issuable thereunder (Resolution 2008-2).
Speaking as President and Chief Executive Officer of ART
Advanced Research Technologies, Sebastien Gignac provided the
meeting with an overview of the Company's progress over the last
year. On behalf of the Company, Mr. Gignac also thanked Mr. Benoit
LaSalle and Mr. Pierre Dutheil, who are retiring from the Board of
Directors, for their many contributions to the Company's
development.
About ART
ART Advanced Research Technologies Inc. is a leader in molecular
imaging products for the healthcare and pharmaceutical industries.
ART has developed products in medical imaging, medical diagnostics,
disease research, and drug discovery with the goal of bringing new
and better treatments to patients faster. The Optix� optical
molecular imaging system, designed for monitoring physiological
changes in living systems at the preclinical study phases of new
drugs, is used by industry and academic leaders worldwide. The
SoftScan� optical medical imaging device is designed to improve the
diagnosis and treatment of breast cancer. Finally, the Fenestra�
line of molecular imaging contrast products provide image
enhancement for a wide range of preclinical Micro CT applications
allowing scientists to see greater detail in their imaging studies,
with potential extension into other major imaging modalities. ART
is commercializing some of these products in a global strategic
alliance with GE Healthcare, a world leader in mammography and
imaging. ART's shares are listed on the TSX under the ticker symbol
ARA. For more information on ART, visit our website at
www.art.ca.
This press release may contain forward-looking statements
subject to risks and uncertainties that would cause actual events
to differ materially from expectations. These risks and
uncertainties are described in the most recent Annual Information
Form and the financial statements for the year ended December 31,
2007, available on SEDAR (www.sedar.com).
Contacts: ART Advanced Research Technologies Inc. Jacques Bedard
Chief Financial Officer 514.832.0777 jbedard@art.ca www.art.ca
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