QUEBEC CITY, June 29 /CNW Telbec/ - Fortsum Business Solutions Inc.
(Fortsum Business Solutions) (TSX Venture Exchange: FRT) announced the
election of new Directors to its Board of Directors and the adoption of a new
Stock Options Plan by the majority of the disinterested Shareholders having
exercised their voting right during the annual and special meeting of the
Corporation held Thursday, June 28, 2007.
Consequently, following the annual and special meeting of the
Shareholders of Fortsum Business Solutions and the withdrawal of Denis Ratté's
candidacy as administrator, the following eight (8) persons were elected as
Directors of Fortsum Business Solutions, with Messrs. Noel Dubé and
André Thompson being newly elected to the Board of Directors:
- Jean Bédard
- Michel Berthelot
- Noel Dubé
- Jean-Guy Lambert
- Louis Lessard
- Jean St-Hilaire
- François Taschereau
- André Thompson
When the Board of Directors met following the annual and special meeting,
the administrators set the framework of the Stock Option Plan adopted by a
majority of its disinterested Shareholders on June 28, 2007. The Board
approved a motion that states that stock options grants to administrators,
directors, consultants or employees can not exceed 10% of all issued and
outstanding shares of the Corporation at the time of the grant and the number
of reserved common shares of six million eight hundred fifty-seven thousand
three hundred and forty-two shares.
The Board of Directors authorized the grant of 700,000 stock options to
its outside administrators. Each of the seven outside administrators was
granted 100,000 stock options. The exercise price for the options is set at
$0.55. One sixth of the options can be exercised upon issue and the remainder
in equal portions each quarter until October 27, 2008. All options expire
June 27, 2012.
About Fortsum Business Solutions
Fortsum Business Solutions Inc. is mainly involved in the development,
integration, marketing and support of accounting, commercial and banking data
management software. For more information: www.fortsum.com.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of the release.
For further information:
For further information: Fortsum Business Solutions Inc.; François
Taschereau, Chief Executive Officer, firstname.lastname@example.org; Dany Beaudet,
Shareholder Communications Coordinator, email@example.com,(418) 877-0088,
ext. 2272, Toll-free: 1-888-268-0088, Fax: (418) 877-9994