Redline Communications Announces Additional Board Nominee
(Canada Newswire Via Acquire Media NewsEdge)
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
Nomination of Mr. Demirianfor 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
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.
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