Chris - I guess I just had the years mixed up. News release is attached below. Also, isn't it just wonderful at the way things (incentive?) get repriced.........
Unitec names Hotrum as COO, Grandich as director
Unitec International Controls Corp UIC
Shares issued 21,209,129 1999-12-07 close $0.08
Wednesday Dec 8 1999
Mr. John Smyth reports
Unitec has appointed Earl Hotrum, P.Eng., as interim chief operating officer and Peter Grandich as director. Mr. Hotrum will also act as chairman of the board of directors, allowing John Smyth to focus on product and market development.
"I have asked Earl to actively assist us in a full-time capacity to allow me to focus full time on establishing Unitec's global distribution network and maintaining our competitive technology leadership. Earl has a broad experience in and knowledge of SCADA in the markets we focus on and brings an added leadership depth to the Unitec team. I look forward to working with him as the company moves forward," said Mr. Smyth.
Mr. Hotrum has been a shareholder of Unitec since 1994 and has served on the board since 1996. He has a broad experience in marketing and management across a wide range of industries including such leading companies as the Canadian Utilities Group, Nova Scotia Power, Hydro Mississauga, and Union Carbide. He has experience from the user group in SCADA, and has also been active in the control room market with Evan's Consoles. Earl is a registered professional engineer, and has an MBA from Concordia University in Montreal.
Earl will take charge of the day-to-day company operations and management, enabling Mr. Smyth to focus his energies toward marketing and product development.
"I am delighted to be able to serve Unitec as the chief operating officer at this very important time in the development of the company. I believe very strongly in the SCADA products that Unitec offers, and believe them to be unparalleled in innovation, design and functionality. I also will have an opportunity to work more closely with John Smyth, a man for who I have the highest regard, and with the many other bright and competent people on the Unitec team. I look forward to helping to take the company to greater achievement over this next period," said Mr. Hotrum.
Peter Grandich is president of Peter Grandich Company of Englishtown, N.J., is a former market analyst and newsletter writer. He appears regularly on national television and radio and is widely quoted in leading financial publications. He is the editor and publisher of the Grandich Letter and is a featured speaker at international investment conferences.
Mr. Grandrich, in his capacity as the head of investment policy for leading Wall Street firms and the portfolio manager of several hedge funds, has extensive experience in corporate development and finance. He is a member of the Market Technical Association, the Society of Quantitative Analysts and the New York Society of Security Analysts. Mr. Grandich will assume direction of the company's investor relations program.
The company would also like to thank Verne Rourke for his past contributions and has accepted his resignation as director.
At the same time the company, subject to regulatory approval, will be granting 505,000 new incentive options to all its employees and directors and repricing 720,000 existing incentive options under which a new total of 1,225,000 shares of the company may be acquired from treasury, at an exercise price of 15 cents per share for a period of five years. |
