TORONTO, Sept. 25, 2015 /CNW/ - Posera-HDX Ltd. (TSX: HDX) (the "Company" or "Posera-HDX") announces that Paul K. Howell has stepped down as Chief Executive Officer effective immediately. Mr. Howell will continue as a director of the Company. An interim Chief Executive Officer will be appointed as soon as possible. The Board thanks Mr. Howell, who remains a significant shareholder of the Company, for founding the current organization and for leading it over a considerable period of time.
Additionally, the Company today announces that its letter of intent to acquire Premier Payments Systems Inc. ("Premier") of Oak Brook, Illinois, USA has expired and the potential acquisition, originally announced on October 1, 2014, will not proceed.
Posera-HDX is listed on the TSX under the symbol "HDX".
About the Company
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware support services.
HDX leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and "line buster" mobile POS terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
HDX develops, deploys, and supports a restaurant POS software known as "Maître 'D" which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 85 value added reseller partners in 25 countries with approximately 550 reseller representatives selling, supporting & installing its software.
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 HDX'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 31st 2015 with the regulatory authorities. HDX 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.
For further information: Please contact: Kevin Mills, Chief Financial Officer, Posera-HDX Ltd. (HDX), 350 Bay Street, Suite 700, Toronto, Ontario M5H 2S6, (800) 465-2400 ext. 2203