Texada Software Inc. Announces Results of Board Elections at Annual General Meeting and Grant of Options to President & CEO
23 July 2009 - 6:45AM
Marketwired
Texada Software Inc. (TSX VENTURE: TXS), the premier provider of
equipment rental and mobile asset management software, is pleased
to announce the election of the following board members at the
Company's annual general meeting held on July 22, 2009: Harry
Jaako, John Kirincic, James Lolley, Jim McInnis and Brian Spilak.
Following the annual general meeting, Jim McInnis was appointed
as Chair of Texada's board of directors. Mr. McInnis is President
of Sycamore Capital Corp. a private investment and consulting
business and is acting CFO of Texada. Mr. McInnis takes over as
Chair from Brian Pedlar, who had served as Chair since July
2008.
"On behalf of the entire board and shareholders, I would like to
thank Brian Pedlar for his guidance as chairman of the Company for
this past year", said Brian Spilak, the Company's President and
CEO.
Mr. Pedlar and Steven Lamb chose to retire from the board of
directors and not stand for re-election.
"I would like to thank Steven Lamb and Brian Pedlar for their
service as directors of Texada", said Brian Spilak. Mr. McInnis
added, "we will miss their input at the board and thank them for
their efforts in moving Texada forward".
"Follow the AGM, the board met and discussed the Company's
operations for the first six months of the year and for the balance
of 2009", said Jim McInnis. "As we had anticipated the current
worldwide economic downturn has to some extent, affected the
Company's operations. However, when we set out at the beginning of
2009 with Brian Spilak as Texada's incoming President & CEO we
developed a plan which took this macro influence into
consideration."
"Texada has a strong customer base and Brian Spilak has done an
outstanding job of reconnecting with all of our strategic customers
over the past six months. We are pleased with our overall results
to date and are working on several initiatives to make Texada a
stronger, leaner organization which will be poised to assert itself
as an industry leader as the overall economy improves in the coming
years," added Mr. McInnis.
The Company also announced that it had entered into a formal
employment agreement with Brian Spilak and completed the grant of
438,637 stock options to him as previously set out in the Company's
press release dated November 10, 2008 which announced Mr. Spilak
appointment as Texada's President & CEO.
About Texada Software (TXS: TSX Venture Exchange)
Texada Software Inc. is the premier provider of enterprise
software solutions for equipment rental and mobile equipment.
Texada's solutions are fully flexible and scalable to meet the
unique needs of any sized operation and are backed by proven
implementation, services and support.
Texada's market-driven software products combine knowledge and
best practices from over 5,000 users worldwide, resulting in
solutions that manage the complete asset life-cycle from
acquisition through to disposal. The Company's customers enjoy the
benefits of enhanced efficiency through better asset utilization,
effective location tracking, and optimized scheduling.
Texada can be reached at 1-800-361-1233 or 1-519-836-7073, or on
the internet at www.texadasoftware.com
This news release may contain forward-looking statements which
reflect the Company's current expectations regarding future events.
The forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate", "plan,
"estimate", "expect", "intend" and statements that an event or
result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions. These forward-looking
statements involve risk and uncertainties, including the difficulty
in predicting acceptance of and demands for new products, the
impact of the products and pricing strategies of competitors,
delays in developing and launching new products, fluctuations in
operating results and other risks, any of which could cause
results, performance, or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
Many risks are inherent in the industry; others are more specific
to the Company. Texada's ongoing quarterly filings should be
consulted for additional information on risks and uncertainties
relating to these forward-looking statements. Investors should not
place undue reliance on any forward-looking statements. Other than
as required by applicable law, management assumes no obligation to
update or alter any forward-looking statements whether as a result
of new information, further events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Corporate communications contact: Texada Software Inc.
Brian Spilak, President & CEO 1-800-361-1233 x - 2123
bspilak@texadasoftware.com
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