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GuestLogix Grants Options to Directors and Officers
(Canada Newswire English Via Acquire Media NewsEdge) Attention Business Editors
TORONTO, May 5 /CNW/ - GuestLogix Inc. (TSX-V: GXI), the leading provider of on-board retail solutions to the airline industry, announced today that its Board of Directors has authorized the grant of 355,500 options to its directors and senior officers as follows:
<<
Name No. of Options Vesting
---- -------------- -------
Officers 280,500 Vesting annually in arrears on
November 30, 2008; November 30,
2009, and, November 30, 2010
Directors 75,000 Vesting quarterly in arrears on
March 31, 2008; June 30, 2008,
September 30 2008 and December 31,
2008
>>
Each option entitles its holder to purchase one common share for $1.22 and expires May 2, 2013, and is subject to further terms set forth in the company's stock option plan. There are 6,655,932 common shares reserved for issuance pursuant to options that may be granted under the company's stock option plan, with 3,209,252 common shares remaining to be issued.
About GuestLogix
GuestLogix is the leading provider of on-board retail technology and solutions to the passenger travel industry. Through its proprietary Mobile Virtual Store(TM) platform, the Company provides air, rail and ferry operators the tools to become successful on-board retailers, enhance service and drive ancillary revenue growth. With a customer base consisting of world leading airlines such as American Airlines, Delta Air Lines, Ryanair, Air Canada and Alaska Airlines, GuestLogix currently serves more than 600 million passenger trips annually. For additional information please visit www.guestlogix.com or www.sedar.com.
Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on April 23, 2008 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
%SEDAR: 00024725E
Media/Analysts: Josef Zankowicz, VP Marketing & Communications, GuestLogix, (647) 500-1563, josefz@guestlogix.com; Investors: Kristen Dickson, Investor Relations, The Equicom Group, (416) 476-7814, kdickson@equicomgroup.com
Copyright ? 2008 Canada Newswire Ltd. All Rights Reserved.
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