Business
Thermal Energy International Provides Corporate Update and Results from its Annual Shareholders Meeting
(via TheNewswire) OTTAWA, ONTARIO / TheNewswire / November 29, 2016 - Thermal Energy...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy International Provides Corporate Update and Results from its Annual Shareholders Meeting(via TheNewswire)\n \n \nOTTAWA, ONTARIO / TheNewswire / November 29, 2016 - Thermal Energy International Inc. (\"Thermal Energy\" or the \"Company\") (TSXV: TMG), a global provider of proprietary energy efficiency solutions to the industrial, commercial and institutional sectors, held its annual general meeting of shareholders (\"AGM\") on Monday, November 28, 2016, in Ottawa. \n\n \n \nAt the AGM, the shareholders approved the increase in the size of the board of directors from seven to eight. To somewhat offset the increased board expenses, the board reduced the annual retainer paid to each director. Kathy Milsom and William White were duly elected to the Company's Board of Directors, and Bruce Linton retired from the Board effective with the AGM. Each of the other director nominees put forth by management were re-elected by the shareholders at the AGM.\n\n \n \nThe Company granted each of these new directors options to purchase 250,000 common shares. The stock options form part of the overall annual remuneration package for directors and are exercisable at $0.115 per share. Stock option grants are subject to necessary regulatory approvals.\n\n\n \nKathy Milsom is a professional engineer and a graduate of the Institute of Corporate Directors' Director Education Program. Kathy is currently a member of the Board of Directors of the Greater Toronto Airports\n\n\n \nAuthority and the chair of its Risk Oversight Committee. She is also the Chair of the Advisory Board for the Direct Construction Company Limited, and a director and the former Chair of the Standards Council of Canada. Prior to focusing on board work, Kathy held executive leadership roles with both private and public sector organizations, including President and CEO of the Technical Standards and Safety Authority, President and CEO of the Canada Lands Company Limited, President of Vestar Facility Management, and Director of Vertical Markets and Regional Director of Healthcare Support Services for Johnson Controls World Services, Inc.\n\n \n \nWilliam White is currently the Chief Operating Officer for Woodland Biofuels, which is commercializing technology for low cost bio-ethanol production, and Director and Chairman of CHAR Technologies, a catalytic desulfurization co...