TORONTO, March 19, 2012 /CNW/ - BSM Technologies Inc. (TSXV: GPS) ("BSM or the Company") announces that Aly Rahemtulla, Frank Maw, Garry West, Robert Latham, Pierre Belanger, Nick Cirella, John Bell and Greg Rokos were re-elected to the Board of Directors of the Company (the "Board") for the upcoming year at the annual and special meeting of shareholders held today. However, the Company recently adopted a majority voting policy (the "Policy") that provides that any director nominee who receives a greater number of votes "withheld" than "for'" is required to submit his resignation as a director. Messrs. West and Latham received a greater number of votes "withheld" than "for" and consequently, in accordance with the Policy, have submitted their resignations to the Board. The Board will refer the resignations for consideration by the Company's Nominating and Corporate Governance Committee, which is expected to determine whether or not the resignations will be accepted by April 30, 2012.
About BSM Technologies
BSM Technologies, through its subsidiary BSM Wireless Inc., is a leading provider of remote monitoring, fleet tracking, fleet maintenance, and automated vehicle security systems providing real time, web-based tracking of mobile and fixed assets. BSM provides solutions for commercial, government, and law enforcement organizations who manage and operate diverse assets and large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles, and lower business costs.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For more information, please visit http://www.bsmwireless.com
Certain statements in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events, and is therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. Forward-looking information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect" or "believe", or grammatical variations thereof. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from the expectations of the Company include, among other things, potential acquisitions and investments, volatility in stock price, credit risk, competition, foreign currency risk and environment and market risk. Such forward-looking information should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
For further information:
Mr. Aly Rahemtulla
President & CEO
BSM Technologies Inc.
TMX | Equicom
416-815-0700, ext. 290