Enablence Adds to Board
Enablence announces board appointment and creation of a compensation committee
August 11, 2008
OTTAWA -- Enablence Technologies Inc. (TSX VENTURE:ENA - News), ("Enablence" or the "Corporation") a leading supplier of fiber-to-the-home (FTTH) equipment for triple-play residential and business services and optical components and subsystems for access, metro and long haul markets, announced today that its Board of Directors 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 is comprised of Stephan Guerin (Chairman), Nishith Goel and John Ryan.
As announced on August 8, 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 (3,100,000). 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 August 7, 2018. After these grants, 4,000,000 common shares remain available for issuance under the Company's stock option plan.
Enablence Technologies Inc. (Toronto: ENA)
You May Also Like