Sangoma Announces Grant of Stock Options
November 20 2010 - 5:21PM
Marketwired
Sangoma Technologies Corporation (TSX VENTURE: STC) today announced
the grant of stock options effective November 19, 2010.
The Company granted 2,654,160 options to two recently appointed
executives of the Company, CEO, William Wignall and CFO, David
Moore. Per the terms of the previously reported employment
agreements, these options total 8% of the fully diluted shares of
the Corporation, expire in 5 years, vest over a period from 1 year
to 5 years, and have exercise prices from $0.45 to $0.5625. In
accordance with TSX Venture Exchange requirements, approximately
half of these options are conditional upon disinterested
shareholder approval at the Corporation's Annual and Special
Meeting on December 20, 2010.
About Sangoma Technologies Corporation
Sangoma is the premium provider of voice and data connectivity
components for software-based communication applications. Sangoma's
data cards, voice cards, gateways and connectivity software are
used in leading PBX, IVR, contact center and data-communication
applications worldwide. The product line represents a comprehensive
toolset for deploying cost-effective, powerful, and flexible
software communication applications.
Founded in 1984, Sangoma Technologies Corporation is publicly
traded on the TSX Venture Exchange (TSX VENTURE: STC). Additional
information on Sangoma can be found at: www.sangoma.com.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Sangoma Technologies Corporation David Moore Chief
Financial Officer (905) 474-1990 Ext. 107 dsmoore@sangoma.com
www.sangoma.com
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