Enablence Technologies appoints Bower as director
2008-08-11 13:11 ET - News Release
Mr. Arvind Chhatbar reports
ENABLENCE ANNOUNCE BOARD APPOINTMENT AND CREATION OF A COMPENSATION COMMITTEE
Enablence Technologies Inc. has appointed Steve Bower to the board of Enablence, and established a compensation committee. Mr. Bower is a chartered accountant and chief financial officer (CFO) of the Consumers Waterheater Income Fund.
With the addition of Mr. Bower there are now seven directors, of which four are not officers of the corporation. Mr. Bower will serve as the chairman of the audit committee. The compensation committee established by the board of directors comprises Stephan Guerin (chairman), Nishith Goel and John Ryan.
As announced in Stockwatch on Aug. 11, 2008, the board of directors granted options to employees to acquire a total of 4,342,000 shares of the corporation. These were granted to certain officers (1,242,000) and other employees (3.1 million). The options vesting schedule is in line with the employee stock option plan. The stock options have an exercise price of $1.15 per share, exercisable on or before Aug. 7, 2018. After these grants, four million common shares remain available for issuance under the company's stock option plan.
We seek Safe Harbor.
