Texada Software Inc. (TSX VENTURE:TXS) (the "Company") is pleased
to announce the following appointments to its management and Board
of Directors.
Nabil Kassam, a current director of the Company, has been
appointed to the role of Executive Chairman of the Board, effective
November 10, 2011. Mr. Kassam is a representative of 1610488
Ontario Ltd., the Company's largest shareholder, and has served as
a director on the Company's Board since October 2010. Over that
period, he has worked closely with William Swisher and Texada's
management team to develop and successfully execute a number of
strategic initiatives.
Prior to Mr. Kassam's appointment as Executive Chairman, the
dual role of Chairman and CEO were held by William Swisher, who
will continue to lead the Company in his role as CEO and as a
director. Mr. Swisher had occupied the position of Chairman of
Texada Software Inc. since June 2010, and in October 2010 was
appointed to the position of CEO of the Company.
"Since my appointment as CEO one year ago," said Mr. Swisher,
"it has been our intention to find a suitable replacement for the
position of Chairman of the Board, so that we could split the
responsibilities of Chairman and CEO for the purposes of good
governance. I have worked closely with Nabil for a number of years
and I am confident that his appointment as Executive Chairman will
strengthen Texada's ability to continue to successfully carry out
its strategic objectives."
As Managing Director of Zynik Capital Corporation, a
Vancouver-based investment firm, Mr. Kassam has led a wide variety
of successful private and public company investments in multiple
sectors, including equipment rental, retail, real estate and
technology. He has also previously worked at Booz & Company,
Katzenbach Partners and Ernst & Young. Mr. Kassam holds an
undergraduate degree from Harvard University and an MBA from the
Stanford Graduate School of Business.
In addition, the Company is also pleased to announce the
appointment of Samir Manji and William Palmer to the Company's
Board of Directors, subject to the receipt of all regulatory
approvals.
Mr. Manji is the founder, President and CEO of Amica Mature
Lifestyles Inc., an industry leading, TSX-listed company that
manages and owns luxury independent living retirement communities.
Mr. Manji obtained his Chartered Accountant designation in
1992.
Mr. Palmer is a seasoned entrepreneur and executive with over 35
years of starting, operating, growing and financing a variety of
businesses. He has operating experience in the United States,
Canada and Europe and was the founder and CEO of one of Europe's
largest self-storage companies with 65 locations in England, France
and Germany. Mr. Palmer holds an MBA from Harvard Business School.
Both Mr. Manji and Mr. Palmer are expected to be independent
members of the Board of Directors.
In connection with their appointment as directors, Mr. Palmer
and Mr. Manji were each granted 100,000 stock options, and further
to the Company's press release dated November 9, 2011, Mr. Kassam
was granted 250,000 stock options to purchase common shares of the
Company, each at an exercise price of $0.10 per share and
exercisable for a period of 10 years from the date of grant,
subject to all required regulatory, stock exchange and shareholder
approvals including all required approvals to the amendments to the
Company's stock option plan as set out in the press release dated
November 9, 2011.
More information may be found at www.sedar.com
About Texada Software (TXS: TSX Venture Exchange)
Texada Software Inc. operates in two complementary businesses,
enterprise asset management software and equipment rental.
Texada's enterprise software business continues as the premier
provider of software solutions for equipment rental and mobile
equipment. Texada's solutions are fully flexible and scalable to
meet the unique needs of any sized operation and are backed by
proven implementation, services and support. Texada's market-driven
software products combine knowledge and best practices from over
5,000 users worldwide, resulting in solutions that manage the
complete asset life-cycle from acquisition through to disposal. The
enterprise software's customers enjoy the many benefits of this
enhanced efficiency through better asset utilization, effective
location tracking, and optimized scheduling.
The Company, through its wholly owned US equipment rental
subsidiary, conducts business as Rolls High Reach at four locations
in Southern California with a wide range of over 1,000 aerial fleet
units.
Texada can be reached at 1-800-361-1233 or 1-519-836-7073, or at
www.texadasoftware.com.
This news release may contain forward-looking statements which
reflect the Company's current expectations regarding future events.
The forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate", "plan,
"estimate", "expect", "intend" and statements that an event or
result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions. These forward-looking
statements involve risk and uncertainties, including the difficulty
in predicting acceptance of and demands for new products, the
impact of the products and pricing strategies of competitors,
delays in developing and launching new products, fluctuations in
operating results and other risks, any of which could cause
results, performance, or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
Many risks are inherent in the industry; others are more specific
to the Company. Investors Texada's ongoing quarterly filings should
be consulted for additional information on risks and uncertainties
relating to these forward-looking statements. Investors should not
place undue reliance on any forward-looking statements. Management
assumes no obligation to update or alter any forward-looking
statements whether as a result of new information, further events
or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor PROIV accepts responsibility for the adequacy
or accuracy of this release.
Contacts: Corporate communications contact: Texada Software Inc.
Jim McInnis Chief Financial Officer 1-800-361-1233 x-
2104jmcinnis@texadasoftware.comwww.texadasoftware.com
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