Calgary, Alberta – June 3, 2011 — AeroMechanical Services Ltd. (TSX-V: AMA) (the “Company” or “AMA”) today announced it has granted incentive stock options for 2,099,000 common shares, subject to regulatory approval, to employees, officers and directors under the stock option plan approved at the Annual and Special Meeting yesterday.
“We have approved the stock option plan as a tangible performance incentive to people at several levels of the Company,” said Bill Tempany, Chairman and CEO of AMA. “We have set the exercise price of the options above the current trading price of our shares. For that reason we believe that the plan serves to fully align employees, officers, board members and investors in the pursuit of shareholder value.”
The options provide for an exercise price of $0.25 per share, which is approximately 40% above the current trading price on the TSX Venture Exchange. They also feature immediate vesting and an expiration date of December 31, 2014. A maximum of 10% of the issued and outstanding shares are reserved under the Company’s stock option plan. The options are subject to a four-month hold period expiring September 3, 2011.
About AeroMechanical ServicesAeroMechanical Services Ltd., under the brand name FLYHTTM, provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS™ UpTime™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real-time. If an aircraft encounters an emergency, AMA’s emergency data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The company has been publicly traded on the TSX Venture Exchange since 2003 under the trading symbol AMA.
AFIRS, UpTime, FLYHT, FLYHTStream and aeroQ are trademarks of AeroMechanical Services Ltd.
AeroMechanical Services Ltd.
Thomas R. French, CGA
VP Finance and CFO
Barnes Communications Inc.
416-367-5000 ext. 225
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