TORONTO, June 21, 2013 /CNW/ - Redline Communications (www.rdlcom.com) Group Inc. (TSX: RDL), a leading provider of broadband wireless solutions for machine-to-machine (M2M) communications, announced today that management is proposing an additional nominee for election to the board of directors of the Company (the "Board") at the annual general meeting of shareholders to be held on June 26, 2013 (the "Annual Meeting").
The shareholders of the Company have empowered the directors of the Company to determine, from time to time, the number of directors of the Company pursuant to section 3.1 of the Company's by-laws and the directors have passed a resolution to increase the size of Board from four to five directors.
The Company is pleased to announce that Eric Demirian will be put forth as a fifth nominee for election to the Board at the Annual Meeting in addition to the four nominees described in the management information circular of the Company dated May 30, 2013 that was previously mailed to shareholders.
Nomination of Mr. Demirian for Election to the Board of Directors
Mr. Demirian is a seasoned business executive with a unique blend of financial, operational, restructuring and governance experience. He has significant transaction experience involving mergers, acquisitions, divestitures, and public and private financings with experience in a wide range of industries including technology, communications and entertainment, clean-tech, manufacturing, distribution, financial, consumer goods and real estate.
Mr. Demirian is currently President of Parklea Capital (a boutique advisory firm), a position he has held since 2003. From 2000 to 2003 he was Executive Vice President of Group Telecom (a public telecom company), from 1983 to 2000 Mr. Demirian was with PricewaterhouseCoopers LLP (an international accounting and consulting firm) where he was a Partner and Industry Practice Head (Information & Communications) and from 1980 to 1983 he was internal auditor at the Ontario Lottery and Gaming Corporation.
Mr. Demirian has extensive public company board of directors, audit committee and special committee experience and is currently a director of Descartes Systems Group (a public technology company), Imax Corporation (a public entertainment and media technology company) and Enghouse Systems Limited (a public software company). Mr. Demirian is a former director of Leisure Canada Inc. (2010-2011), Menu Foods Income Fund (2005-2010) and Keystone North America Inc. (2007-2010). He is a CPA, CA and CGA. Mr. Demirian's accounting experience combined with his substantial business and transaction experience make him well suited to assist the Board in its assessment of financial and accounting matters.
Philippe de Gaspé Beaubien III, Chairman of the Board, commented, "I am very pleased to be adding Eric's name to the list of nominees to be tabled for election at Redline's next annual shareholders meeting to be held on June 26, 2013. Eric brings a wealth of expertise and his insights will be valuable to Redline as it continues with its strategic expansion."
Mr. Demirian is a Canadian citizen and resides in Toronto, Ontario, Canada. As disclosed above, this will be the first time Mr. Demirian will seek election to the Board.
If elected, Mr. Demirian will be Chair of the Audit Committee and a member of the Corporate Governance and Nominating Committee.
Mr. Demirian currently does not hold any shares of the Company.
About Redline Communications
Redline Communications (www.rdlcom.com) is the innovator of Virtual Fiber™, a specialized wireless broadband system used by companies and governments worldwide to cost-effectively deploy distributed services and applications. Redline Virtual Fiber™ solutions are used to facilitate and enhance public safety networks, deploy and extend secure networks, connect digital oil fields and smart grids, and bring dedicated Internet access wherever and whenever it's needed. Redline has been delivering powerful, versatile and reliable wireless systems to governments, the military, oil and gas, and the telecom industry for over a decade through its global network of certified partners. For more information visit www.rdlcom.com.
Forward Looking Statements
Certain statements in this release may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws. In some cases, forward-looking statements can be identified by terms such as "could", "expect", "may", "will", "anticipate", "believe", "intend", "estimate", "plan", "potential", "project" or other expressions concerning matters that are not historical facts. Readers are cautioned not to place undue reliance upon any such forward-looking statements.
Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance, achievements or developments of Redline to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements, by their nature, are based on certain assumptions regarding expected growth, management's current plans, estimates, projections, beliefs, opinions and business prospects and opportunities (collectively, the "Assumptions"). While the Company considers these Assumptions to be reasonable, based on the information currently available, they may prove to be incorrect.
SOURCE: Redline Communications Group Inc.
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