MONTREAL, July 15 /CNW Telbec/ - iWeb Group Inc. (the "Company") announced today that its Board of Directors has approved the increase of the number of shares reserved for issuance pursuant to the Stock Option Plan. The number of shares will be increased to 5,632,252 shares (i.e. 20% of iWeb's outstanding shares), all subject to the disinterested shareholders' approval on the next shareholders meeting to be held in March 2011. Any options issued pursuant to the plan permitting the issuance of shares beyond the limit of 4,227,673 common shares will not be exercised by its beneficiary before the approval of the increase by the disinterested shareholders.
About iWeb Group Inc. (iWeb.com)
iWeb.com is a worldwide provider of Internet hosting services and IT Infrastructure. With the opening of its fourth secured data center in Montreal, iWeb's capacity will near 35,000 dedicated servers. Since 2004, the company's compounded annual growth rate has been above 75%, making it one of Canada's 100 fastest growing companies according to PROFIT Magazine.
Founded in 1996 in Montreal, iWeb now generates more than 60% of its revenues from abroad; and employs over 180 full-time employees providing Dedicated Server Hosting, Co-location and Web Hosting services to close to 22,000 customers in 150 countries. iWeb's shares are listed on the TSX Venture Exchange (TSX-V: IWB); for more information please consult: http://investors.iweb.com
SOURCE iWeb Group Inc.
For further information: For further information: Philip Tousignant, iWeb Group Inc., Chief Financial Officer, (514) 286-4242 ext. 2149, firstname.lastname@example.org; Bernard Dahl, Presentis, Investor Relations/Media Relations, (514) 802-2801, email@example.com