TORONTO, Jan. 15, 2014 /CNW/ - BSM Technologies Inc. ("BSM" or the "Company") (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, today announced that Louis De Jong has been appointed Chief Financial Officer of the Company.
"Louis brings extensive financial and accounting experience to BSM and will play an integral role as we continue to grow the company," said Aly Rahemtulla, President and Chief Executive Officer of BSM. "Our ability to attract an individual of Mr. De Jong's calibre speaks to the growth potential of our telematics business."
Mr. De Jong has over 20 years of experience in the financial and investment industries. Mr. De Jong's previous roles include Managing Director at Jemekk Capital Management, Head of Canadian Equities at Credit Suisse, and Head of Institutional Sales at Sprott Securities. Mr. De Jong started his career as an accountant with PricewaterhouseCoopers LLP. Most recently Mr. De Jong founded and is the Managing Partner at De Jong & Co., a boutique merchant bank engaged in principal investment and financial advisory services. Mr. De Jong is both a CPA and CA Charterholder, and earned his Economics degree from the University of Western Ontario.
BSM also announced the grant of 225,000 stock options to Mr. De Jong. Each stock option allows Mr. De Jong to acquire a common share of the Company at an exercise price of $3.21 for a period of five years, subject to vesting requirements. Of the 225,000 stock options, 168,750 vest immediately, and the remainder will vest evenly six, 12 and 18 months following January 14, 2014. The Company also announced that on December 19, 2013, it granted 100,000 stock options to Mr. Periyalwar, the Chief Operating Officer of the Company. Each stock option allows Mr. Periyalwar to acquire a common share of the Company at an exercise price of $3.12 for a period of five years, subject to vesting requirements. Of the 100,000 stock options, 75,000 vested on December 19, 2013, and the remainder will vest evenly six, 12 and 18 months following December 19, 2013. The Company's common shares closed at $3.12 on the TSX Venture Exchange on December 19, 2013.
About BSM Technologies (bsmwireless.com)
BSM Technologies, through its subsidiary BSM Wireless Inc., is a leading provider of remote monitoring, fleet tracking, fleet maintenance, and business intelligent engine 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
SOURCE: BSM Technologies Inc.
For further information:
President & CEO
BSM Technologies Inc.
(416) 815-0700 ext. 289
(416) 815-0700 ext. 278