2 ALERT: (MRKLE) .02 Technest Holdings Inc. Applies for NASDAQ Market Listing
Thursday March 16, 8:00 am ET
Company Appoints New CEO and Independent Board of Directors
BOSTON--(BUSINESS WIRE)--March 16, 2006--Technest Holdings, Inc. www.technestholdings.com (OTCBB:TCNH - News), a defense and homeland security company transforming advanced laboratory technology into real-world products, announced today that it has submitted an application for listing of its shares of common stock on the NASDAQ Capital Market.
Company management with co-operation from its majority shareholder, Markland Technologies Inc (OTCBB: MRKLE - News), has restructured its corporate governance and has appointed three members to its Board of Directors, all of whom meet the "independent" and corporate governance requirements of NASDAQ. Effective on March 15, 2006, newly appointed board members: Major General (Ret) David R. Gust, Robert Doto and Darlene Deptula Hicks have formed the requisite independent audit, compensation, and nominating and corporate governance committees.
Also as part of the corporate governance restructuring, Robert Tarini has resigned his positions of CEO and director of Technest Holdings Inc. He will remain as CEO and Director of Technest's majority shareholder, Markland Technologies, Inc. Dr. Joe Mackin has been appointed the new CEO of Technest Holdings and will remain a director of Technest Holdings along with the CFO, Gino Pereira. Dr. Mackin has resigned as a director and President of Markland Technologies.
Robert Tarini stated, "It has been my pleasure to work with the talented management team here at Technest to help form the new operating and equity structure and I am quite pleased Dr Joe Mackin has accepted the position of CEO. These structural changes allow Technest to proceed to grow its business and future as a public entity. Dr Mackin and Gino Pereira will do a fabulous job as CEO and CFO, respectively. The newly appointed independent board of directors will come to the job with a wealth of industry and public company experience."
"A NASDAQ listing of our common stock would represent an important milestone for our company," said Dr Joe Mackin, newly appointed CEO of Technest Holdings. "By moving to the NASDAQ, we hope to provide greater transparency and liquidity for our shareholders and to elevate our company's visibility and standing in the financial community." |
