Business
Star Adds New Director - Grants Options
TSX Venture Exchange Symbol: SNA TORONTO, Jan. 22 /CNW/ - Star Navigation Systems Group Ltd. ("St...
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\nTSX Venture Exchange Symbol: SNA\n\n\nTORONTO, Jan. 22 /CNW/ - Star Navigation Systems Group Ltd. ("Star" or\nthe "Company") is pleased to announce that, subject to TSX-V approval, Mr.\nCharles Wyburn has joined the Board of Directors of the Company.\n\n\nMr. Wyburn is a Fellow of the Institute of Chartered Accountants in\nEngland & Wales and has been a partner in a professional practice since the\nearly 1970s. He specialises in Management Consultancy and Audit, and has\nextensive experience in large public companies in a variety of differing\nsectors. Upon TSX-V approval, Mr. Wyburn is expected to be appointed Chairman\nof the Audit Committee.\n\n\nThe Company also announces that, pursuant to its 2006 Incentive Stock\nOption Plan, it has granted incentive stock options to ten of its directors,\nofficers, employees and consultants to purchase up to an aggregate of\n1,700,000 common shares in the capital stock of the Company. The options\nexpire at various times between January 1, 2010 and December 15, 2012 and are\nexercisable at a price of $0.20 per share. The 2006 Stock Option Plan reserves\n10% of the issued and outstanding common shares of the Company from time to\ntime for option grants. The grant of options is subject to regulatory\napproval, including approval of the TSX Venture Exchange.\n\n\nAbout Star Navigation: Star Navigation Systems Group Ltd.\n(www.star-navigation.com) owns the exclusive worldwide license to its\nproprietary, patented In-flight Safety Monitoring System, the first system in\nthe world to feature in-flight data-analysis, monitoring and diagnostics with\na real-time connection between aircraft and ground. Its real-time capability\nof tracking performance-trends and predicting incident-occurrence enhances\naviation safety and improves fleet management while reducing costs for the\noperator.\n\n\nCertain statements contained in this News Release constitute\nforward-looking statements. When used in this document, the words "may",\n"would", "could", "will" and similar expressions, as they relate to Star or\nits management are intended to identify forward-looking statements. Such\nstatements reflect Star's current views with respect to future events and are\nsubject to certain risks, uncertainties and assumptions. Many factors could\n...