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CALGARY, June 29 /CNW/ - Sylogist Ltd. ("SYZ" - TSX Venture Exchange) Sylogist today announced the voluntary cancellation of 250,003 stock options which had previously been granted to management, employees and members of its board, which are currently unvested and out-of-the-money. No new grants of options have been made at this time. While the company's existing stock option plan remains in place, the compensation committee of the board is currently considering various incentive arrangements for its staff and other personnel.
About Sylogist
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Sylogist delivers information management and technology solutions to local government, education and private sector clients. The Company provides implementation services for enterprise software under a traditional software and support model as well as software as a service model. Sylogist enhances its ERP support through its proprietary connectivity products, which link major ERP systems with other packaged and custom vertical market solutions. Sylogist's software solutions, along with related services are delivered through its own sales and delivery organization, as well as through OEM channels.
The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at http://www.sylogist.com.
Forward-looking statements: This press release contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and Sylogist's capability to execute and implement its future plans. Actual results may differ materially from those projected by management.
Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Sylogist can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and Sylogist undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
-The TSX-Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release -