POSERA Announces Resignation of Director Paul K. Howell

TORONTO, May 24, 2016 /CNW/ - Posera Ltd. (TSX : PAY) ("Posera" or the "Company"), a leading provider of software solutions for the hospitality industry, today announced that Paul K. Howell has tendered his resignation as a member of the Board of Directors of Posera Ltd

Mr. Howell was one of the key contributors to Posera's transformation since becoming a director and Chief Executive Officer of the organization in November, 2006. Mr. Howell stepped down from the role as Chief Executive Officer of Posera on September 25, 2015.

Loudon Owen, the Chairman of the Company's Board of Directors, thanked Mr. Howell on behalf of the Board and the Company for his long-time dedication. "Paul has been an integral part of Posera for the past 9 years. We thank him for his commitment and leadership, and of course wish him well in all of his future endeavours."

About POSERA

For more than 30 years, POSERA has been supporting merchant business success in the hospitality industry. POSERA is in the business of managing merchant transactions with consumers and facilitating all aspects of the payment transaction. Posera's Maitre 'DTM and FingerPrintsTM Point-of-Sale solutions are trusted by the top fine dining and quick-service hospitality brands around the world.

A TSX company trading under the symbol "PAY", POSERA's full service solutions include integrated and non-integrated debit and credit processing, EMV compliant Pay-At-The-Table ("PATT") applications, system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware customer support.

Posera's POS system software solutions, associated enterprise management tools have been deployed in 25 countries and 8 different languages at over 30,000 merchant locations worldwide. POSERA's direct sales force is bolstered by a global dealership network of approximately 80 resellers which translates to approximately 500 representatives selling, supporting and installing its software and related products and services. Posera prides itself on its long and established track record of exceptional customer service and continued technological innovation. Posera's success will continue to be driven by the Company's unwavering objective to ensuring the business success of its growing base of merchant clients.

More information about Posera can be found on the Company's website at www.posera.com or under the Company's profile on SEDAR at www.sedar.com.

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Annual Information Form to be filed on March 30th,2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law. 

SOURCE Posera Ltd.

For further information: Kevin Mills, Chief Financial Officer, 1.416.703.6462 ext. 2203, kmills@posera.com, www.posera.com; Investor Relations Contact: Caleb Jefferies, 1.604.684.6730


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