MONTREAL, April 16 /CNW Telbec/ - Kolombo Technologies Ltd. ("Kolombo" or
the "Company") (TSXV: KOL) today announced that on April 4, 2007 the Board of
Directors approved a stock option plan (the "plan") for directors, executives,
key employees and Kolombo suppliers. This plan is subject to the approval of
the TSX Venture Exchange and the Company's shareholders.
The plan foresees that the options granted would not exceed a five (5)
year term and they would be granted by the Board of Directors at a price that
cannot be lower than the closing price on the day preceding the grant date.
The maximum number of common shares that can be issued under the plan has been
set at 3,500,000 but will never exceed ten per cent (10%) of the number of
common shares issued and outstanding. In addition, the number of common shares
under option per holder must not exceed five per cent (5%) of common shares
issued and outstanding.
About Kolombo (www.systemekolombo.com)
Kolombo was founded in Quebec City in 2000 and is listed on the TSX
Venture Exchange (TSX-V: KOL). The Company is focusing its activities on the
research, technological development and commercialization of vehicle
management, protection and anti-theft systems, in particular for heavy
machinery, trailers and commercial merchandise.
Distribution of Kolombo's products is ensured by Detroit Diesel Allison
Canada East, a major distributor of engines and transmissions for trucks and
heavy machinery and a member of the Wheeltime network, which has 225 branches
in North America (www.ddace.com). Installation of Kolombo's products is
provided by Ajilon, a subsidiary of Adecco, a world leader in the
communications and project management industry with 6,600 offices in
70 countries (www.ajiloncom.com).
Local or international land transport, industrial complexes and
widespread work sites, all present security challenges for their managers.
Kolombo's technological platform offers these various clienteles both
reliability and flexibility with made-to-measure solutions for specific
For further information on Kolombo Technologies Ltd, please consult the
Company's website www.systemekolombo.com.
The TSX Venture Exchange does not approve nor accept responsibility for
the adequacy or accuracy of this press release.
For further information:
For further information: Martin Arsenault, President and Chief Executive
Officer, (418) 686-3837, Cell: (514) 726-2432, Fax: (418) 686-2531; Frédéric
Tremblay, HKDP Communication and Public Affairs, (514) 395-0375, ex. 234