AeroMechanical Services Ltd. TSX-V Trading Symbol "AMA"
A Tier 2 Industrial Issuer
CALGARY, May 22 /CNW/ - AeroMechanical Services Ltd. ("AMA") announced
today that AMA, under the formal stock option plan approved at the Annual
General and Special Meeting held on May 21, 2009, has granted incentive stock
options for a total of 1,350,000 common shares, subject to regulatory
approval, to employees, directors, and officers of AMA. Terms include: an
exercise price of $0.27 per share; vesting of all of the options occurring
immediately; and 1/3 of the total options granted expiring equally at the end
of each year on December 31 of 2010, 2011 and 2012. A maximum of 10% of the
issued shares are reserved for the issuance of AMA's Stock Option Policy. The
options are subject to a four month hold period expiring September 22, 2009.
AMA also wishes to announce that 150,000 options, exercisable at $0.27
per share, have been granted to The Howard Group Inc. (AMA's contracted
investor relations firm), subject to regulatory approval. The options will
vest 50% December 31, 2009 and 50% December 31, 2010 and all expire December
About AeroMechanical Services Ltd.
AeroMechanical Services Ltd. provides proprietary technological solutions
and services designed to reduce costs and improve efficiencies in the airline
industry. The company has successfully patented and commercialized three
products and associated services currently marketed to airlines, manufacturers
and maintenance organizations around the world. Its premier technology,
afirs(TM) UpTime(TM), allows airlines to monitor and manage aircraft
operations anywhere, anytime, in real-time.
afirs, UpTime, FLYHT and aeroQ are Trade Marks of AeroMechanical Services
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Tom French, CFO, AeroMechanical Services Ltd,
(403) 291-7427, email@example.com, www.amscanada.com; Bob Beaty, The
Howard Group Inc., Toll Free: 1-888-221-0915, Info@howardgroupinc.com,