Howard Johnson to lead audit committee; Art Mesher appointed chairman
TORONTO, April 24 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a leading
provider of radio frequency identification (RFID) technology, today reported
the election of a new Director to the Company's Board at the Annual General
Meeting, held on Thursday, April 20, 2006.
During the meeting, shareholders elected seven directors to the Company's
Board, now comprised of Norbert Dawalibi, Cal Haverstock, Suresh Kumar, George
C. McKinnis, Richard I. Segal, Art Mesher and Howard Johnson. Subsequent to
the Annual General Meeting ("AGM"), Art Mesher was appointed Chairman of the
Board of Directors.
"Art and Howard bring thought leadership and proven execution skills in
supply chain and the arena of mergers and acquisitions," commented Norbert
Dawalibi, President and CEO, Sirit Inc. "As we continue to execute on our
growth plans both through organic growth and potential additional
acquisitions, it's imperative to build a Board that brings a wealth of
business development, operational and M&A expertise that will help us to meet
those corporate goals going forward."
Mr. Johnson is President of Veracap Corporate Finance Ltd. and a Partner
with Campbell Valuation Partners Limited in Toronto. He is widely recognized
for his expertise in business valuation, acquisitions and divestitures,
private equity financing and shareholder value enhancement strategies.
Mr. Mesher is Chief Executive Officer of Descartes Systems Group Inc. a
leading provider of on-demand, software-as-a-service (SaaS) delivery
management solutions for transportation, logistics, manufacturing, retail,
distribution and service provider enterprises. Before joining Descartes, Art
launched Integrated Logistics Strategies Services for the Gartner Group,
building the practice into a leading advisor to major global corporations. Mr.
Mesher joined the Sirit board in September 2005.
About Sirit Inc.
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency
Identification (RFID) technology worldwide. Harnessing the power of Sirit's
enabling-RFID technology, customers are able to more rapidly bring high
quality RFID solutions to the market with reduced initial engineering costs.
Sirit's products are built on more than 12 years of RF domain expertise
addressing multiple frequencies (LF/HF/UHF), multiple protocols and are
compliant with global standards. Sirit's broad portfolio of products and
capabilities are easily customized to address new and traditional RFID market
applications including Supply Chain & Logistics, Cashless Payment, Access
Control, Automatic Vehicle Identification, Inventory Control & Management,
Asset Tracking and Product Authentication. For more information, visit
www.sirit.com.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities
Litigation Reform Act of 1995: Except for the statements of historical fact
contained herein, the information presented constitutes "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Sirit to be materially different from any future
results, performance or achievements expressed or implied by such forward-
looking statements. Readers are cautioned not to place undue reliance on these
forward-looking statements. Actual results may differ materially from those
indicated by these forward-looking statements as a result of risks and
uncertainties impacting Sirit's business which are discussed in the section
entitled "Description of the Business - Risks Factors" in Sirit's Annual
Information Form dated March 16, 2006 as filed with the securities regulatory
authorities in Canada via SEDAR. Although Sirit has attempted to identify
important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated or
intended.
