The shareholders of CESY have approved the company's proposal to change the name of the company to Homeland Security Capital Corporation. A new ticker symbol will follow.
Celerity Systems Announces Name Change to Homeland Security Capital Corporation
Friday December 30, 11:16 am ET
Company Elects New Board of Directors and Formalizes Strategic Direction
ARLINGTON, Va., Dec. 30 /PRNewswire-FirstCall/ -- Celerity Systems, Inc. (OTC Bulletin Board: CESY - News) announced today that its shareholders elected new directors and voted to change the name of the company to Homeland Security Capital Corporation. At a special meeting, stockholders elected C. Thomas McMillen, Zev Kaplan, Phil McNeil and Rick Rickertsen to the board of directors.
The company's name change was effective immediately. A new ticker symbol for the company will be announced once an effective date has been confirmed.
In other actions, shareholders withdrew the company's election as a business development company under Section 54 of the Investment Company Act of 1940, approved the company's 2005 Stock Option Plan and voted to increase the number of authorized shares of the company's common stock to 20 billion.
C. Thomas McMillen, CEO of Homeland Security Capital Corporation, said, "These shareholder actions enable us to move forward with our new business strategy. The name change is important because it will help investors better understand our strategic direction. The new board members bring tremendous financial savvy, operational expertise and key contacts to the company. There are outstanding opportunities in the homeland security market where we have valuable expertise and knowledge that will help us create an exciting new company for the benefit of our shareholders."
McMillen has served as the company's chairman, CEO and president since August 2005. He currently serves as chairman of Fortress America Acquisition Corp., a special-purpose acquisition corporation focused on the homeland security industry and traded over the counter under ticker symbol FAAC. Previously, McMillen co-founded and served as CEO of Global Secure Corp., a homeland security company providing integrated products and services for critical-incident responders. He was appointed by President Clinton to co- chair the President's Council on Physical Fitness and Sports from 1993 to 1997. From 1987 through 1993, McMillen served three consecutive terms in the United States House of Representatives from the 4th Congressional District.
Carl J. Rickertsen is managing partner of Pine Creek Partners, a private equity investment firm. He was formerly COO and partner at Thayer Capital Partners, a private equity firm managing three investment funds totaling over $1.4 billion. Rickertsen is also a member of the board of MicroStrategy, Inc., Convera Corporation and United Agri Products. He received a B.S. from Stanford University and an M.B.A. from Harvard Business School.
Zev Kaplan is the founder of a law firm concentrating its practice in the areas of transportation, infrastructure, government relations, business and administrative law. Kaplan has also had a key role in the planning and financing of numerous major public infrastructure projects in Las Vegas. Prior to starting his law firm, Kaplan spent 15 years in government service. Kaplan received his J.D. from Southwestern University School of Law and attended Georgetown University for post-graduate legal studies, received an M.B.A. from the University of Nevada, Las Vegas, and received a B.S. from the Smith School of Business at the University of Maryland.
Philip A. McNeill is a managing partner and the chief investment officer of SPP Mezzanine Partners. He previously served as managing director of Allied Capital Corporation, where he was co-head of its Private Finance and Mezzanine activities and a member of its investment committee. McNeill joined Allied Capital directly from M&T Capital, where he was a vice president and an investment professional from 1988 to 1993. McNeill graduated from Syracuse University in 1981 with a B.S. in business administration with concentrations in accounting, finance and law and public policy. He earned an M.B.A. from Harvard Business School in 1985.
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