OTTAWA, March 16 /CNW Telbec/ - Allen-Vanguard Corporation ("Allen-Vanguard" or the "Company") (TSX:VRS) is pleased to announce the results of the Annual General Meeting of the shareholders of the Company held on March 16, 2009 in Ottawa and several initial decisions of the new Board regarding appointments.
At the meeting the shareholders voted in favour of: - the appointment of KPMG LLP as auditors of the Corporation and to authorize the directors of the Corporation to fix the auditors' remuneration; - the election of Peter M Kozicz, Cary McWhinnie, David O'Blenis, Philip O'Dell, Lawrence Cavaiola and David Luxton as the members of the board of directors for the upcoming year. - the ordinary resolution in the form included in the Information Circular authorizing the issuance by the Company, from time to time, of Top-Up Warrants, all as more particularly described in the Circular. - the ordinary resolution in the form included in the Information Circular authorizing the creation and issuance by the Company of SAR Replacement Warrants, all as more particularly described in the Circular. - the special resolution in the form included in the Information Circular approving a plan of arrangement pursuant to section 182 of the Business Corporations Act (Ontario), involving Tailwind Financial Inc., AV Acquisition Corp. and the Company, all as more particularly described in the Circular.
Following the Annual and Special Meeting of shareholders, Mr. O'Blenis was re-appointed Chairman of the Board, Mr. McWhinnie was re-appointed Chair of the Governance Committee, Mr. Kozicz was re-appointed Chair of the Audit Committee and Mr. Cavaiola was re-appointed Chairman of the Human Resources Committee.
The Company also issued a correction to its announcement earlier today of $10 million in EOD contract awards which stated that $6 million was from DoD for Iraq. The Company receives such orders from DoD but in this instance $5 million of the $6 million order was through an agent for the government of Iraq.
About Allen-Vanguard
Allen-Vanguard Corporation supports the mission of military and homeland security forces around the world with leading proprietary solutions for protection and counter-measures against hazardous devices of all kinds, whether chemical, biological, radiological or explosive (CBRNE), including improvised explosive devices (IEDs) and remotely controlled IEDs (RCIEDs). Allen-Vanguard equipment is in service in more than 120 countries. Products include Electronic Counter-Measures ("ECM") equipment for jamming remote detonation of terrorist devices, specialty security equipment for Explosive Ordnance Disposal ("EOD"), remote intervention robots for hazardous applications, and personal protective wear for use in dealing with explosive and bio-chemical agents. Allen-Vanguard is the developer and/or sole, worldwide licensee of proprietary technologies such as the Med-Eng bomb suit, the Defender(TM) and Vanguard(TM) Mk2 bomb disposal robots, and the Universal Containment System and CASCAD Foam system for blast mitigation and decontamination of bio-chemical warfare agents. Professional services encompass counter-IED intelligence, training and advisory services, including the Triton(TM) Report on terrorist incidents around the world. The Company operates globally through its wholly-owned subsidiaries under the names "Allen-Vanguard", "Med-Eng" and "Hazard Management Solutions". Head office operations are located in Ottawa, Ontario, Canada, with manufacturing operations in Stoney Creek and Pembroke, Ontario; Ogdensburg, New York; Tewkesbury, U.K.; and Cork, Ireland; The Company has professional services operations in Shrivenham, UK, Canada and in the U.S. in Arlington, Virginia, plus sales offices in Canada, the U.S., the U.K. and Asia. Allen-Vanguard's shares are listed on The Toronto Stock Exchange (TSX) under the symbol "VRS".
To learn more about Allen-Vanguard Corporation (TSX: VRS), visit www.allenvanguard.com.
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