Posted on July 11, 2014
OTTAWA, ON - July 11, 2014 - International Datacasting Corporation (TSX:IDC) is pleased to announce that the following Management nominees were elected to its Board of Directors at its Annual General and Special Meeting ("AGM") held on July 10, 2014:
- Mr. Chris Van Staveren
- Mr. Eric Apps
- Mr. David Charron
- Mr. Doug Lowther
- Mr. David Smith
Mr. Apps and Mr. Charron are newly elected members of the Board, and have joined Mr. Van Staveren, Mr. Lowther and Mr. Smith on the Board.
Doug Lowther, IDC's President and Chief Executive Officer, stated, "I am very pleased to welcome Eric Apps and Dave Charron to our Board of Directors. Both have substantial leadership experience and are expected to play key roles in guiding IDC's turnaround and subsequent growth. I look forward to working with them."
A total of 17,398,715 common shares were represented at the AGM, being 29.73% of IDC's issued and outstanding shares as of May 28, 2014, the record date for the AGM. Shareholders voted in favour of all matters brought before the AGM. Detailed results of the vote for the election of directors are set out below.
Final voting results on all matters voted on at the AGM will be filed with Canadian securities regulators and made available at www.sedar.com.
About International Datacasting Corporation:
International Datacasting Corporation (TSX:IDC) is a global leader in digital content distribution for the world's premiere broadcasters in radio, television, data and digital cinema. IDC's products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, satellite news gathering, sports contribution, VOD, and IPTV. IDC is headquartered in Ottawa, Canada, with regional offices in Arnhem, the Netherlands and in San Diego, California. For more information visit: www.datacast.com.
This press release contains certain information that may constitute "forward-looking information" and/or "forward-looking statements" within the meaning of applicable Canadian securities laws. All forward-looking information and forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. All statements other than statements which are reporting results as well as statements of historical fact are forward-looking statements that may involve a number of known and unknown risks, uncertainties and other factors; many of which are beyond the ability of IDC to control or predict.
Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan or "project" or the negative of these words or other variations on these words or comparable terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Risk and uncertainties that might cause actual results to differ materially include, but are not limited to: competitive developments; expectations regarding new product initiatives and timing, including the STAR Pro AudioTM Solution, LASER™ Targeted Ad Insertion Platform and TITAN-3 Video Encoder; any difficulties or disputes with IDC's subcontractors, contract manufacturers and suppliers; IDC's dependence on the development and growth of the satellite services market; a lengthy and variable sales cycle for IDC's products and services; IDC's reliance on a small number of customers for a large percentage of its revenue; expectations with respect to the sufficiency of its financial resources and liquidity; regulatory risks and intellectual property infringement.
More detailed information about potential factors that could affect IDC's financial and business results is included in the public documents IDC files from time to time with Canadian securities regulatory authorities and which are available on SEDAR at www.sedar.com, including, without limitation, IDC's MD&A for the year ended January 31, 2014, dated April 29, 2014.
Except as expressly required by applicable law, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are provided to assist external stakeholders in understanding IDC's expectations as at the date of this release and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such statements.