OTTAWA, ONTARIO--(Marketwired - Jul 24, 2013) - International Datacasting Corporation (IDC.TO) is pleased to announce that the Management slate consisting of the following directors was elected at its Annual General Meeting (AGM) held earlier today:
- Mr. Del Lippert, retired, past President and CEO of Med-Eng Systems
- Mr. Georges Ata, President and CEO of Intelcan Technosystems Inc.
- Mr. Peter Strom, President and CEO of March Networks
- Mr. Graham McBride, President and CEO of Larchhill Capital Inc.
- Mr. Chris Van Staveren, President of Chrysalis4 Investments
- Mr. Doug Lowther, President and CEO of International Datacasting Corporation
All existing members of the Board prior to the AGM have been re-elected, with the exception of Mr. Chris Van Staveren, who is a newly elected director. Mr. Van Staveren is the President of Chrysalis4 Investments, an independent advisory firm focused on developing new business ventures and investing in private companies. Mr. Van Staveren was formerly a partner at KPMG, an international accounting and advisory firm, where he focused on mergers and acquisitions for numerous North American and international-based clients with particular emphasis on the satellite and broadcast/technology sectors.
Doug Lowther, President and Chief Executive Officer of IDC stated, "IDC has a strong, seasoned leadership team with the experience to take IDC to the next level of performance. IDC is appreciated by customers for delivering innovative solutions and is focused on driving revenue growth and profitability."
A total of 18,185,056 common shares were represented at the AGM, being 31.1% of IDC's issued and outstanding shares as of May 27, 2013, the record date for the AGM. Shareholders voted in favour of all matters brought before the AGM. Detailed results of the vote for the election of directors are set out below.
|Director||Votes For||% For||Votes Withheld||% Withheld|
|Chris Van Staveren||16,339,338||98.1%||323,601||1.9%|
Final voting results on all matters voted on at the AGM have been filed with Canadian securities regulators and are available at www.sedar.com.
About International Datacasting Corporation:
International Datacasting Corporation (IDC.TO) is a global leader in digital content distribution for the world's premiere broadcasters in radio, television, data and digital cinema. IDC offers a broad portfolio of advanced solutions including the STAR Pro Audio™ Solution, LASER™ Targeted Ad Insertion Platform, and the Digital Tattoo™ DTH Over IP Gateway. The company's products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, satellite news gathering, sports contribution, VOD, and IPTV. IDC is headquartered in Ottawa, Canada, with regional offices in Arnhem, the Netherlands and in San Diego, California. The company has installations in over 100 countries and service offices in Thailand and Singapore, and an international network of value-added partners and resellers. For more information visit: www.datacast.com.
This press release contains certain information that may constitute "forward-looking information" and/or "forward-looking statements" within the meaning of applicable Canadian securities laws. All forward-looking information and forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. All statements other than statements which are reporting results as well as statements of historical fact are forward-looking statements that may involve a number of known and unknown risks, uncertainties and other factors; many of which are beyond the ability of IDC to control or predict.
Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan or "project" or the negative of these words or other variations on these words or comparable terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Risk factors that might cause actual results to differ materially include, but are not limited to: competitive developments; risks associated with IDC's growth; expectations regarding new product initiatives and timing, including the STAR Pro Audio™ Solution, LASER™ Targeted Ad Insertion Platform and Digital Tattoo™ DTH Over IP Gateway; any difficulties with integrating acquired product lines into IDC's business and/or manufacturing procedures; any difficulties or disputes with IDC's subcontractors, contract manufacturers and suppliers; IDC's dependence on the development and growth of the satellite services market; a lengthy and variable sales cycle for IDC's products and services; IDC's reliance on a small number of customers for a large percentage of its revenue; expectations with respect to the sufficiency of its financial resources and liquidity; regulatory risks and intellectual property infringement.
More detailed information about potential factors that could affect IDC's financial and business results is included in the public documents IDC files from time to time with Canadian securities regulatory authorities and which are available on SEDAR at www.sedar.com,
Except as expressly required by applicable law, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are provided to assist external stakeholders in understanding IDC's expectations as at the date of this release and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such statements.