Calgary, Alberta – May 11, 2012 – FLYHT Aerospace Solutions Ltd. (TSX-V: AMA, to be updated to FLY upon TSX approval) (the “Company” or “FLYHT”) today announced it has granted incentive stock options to acquire up to 2,168,500 common shares, subject to regulatory approval, to employees, officers and directors under the stock option plan approved at the Annual and Special Meeting of shareholders on Wednesday.
“The stock option plan is an important performance incentive for FLYHT employees,” said Bill Tempany, President and CEO of FLYHT. “We feel stock options also motivate employees to increase shareholder value.”
The stock options are exercisable at an exercise price of $0.25 per share. They also feature immediate vesting and expire on December 31, 2015. A maximum of 10% of the issued and outstanding shares are reserved under the Company’s stock option plan. The options, and any common shares issued upon exercise of the stock options are subject to a four-month resale restriction.
About FLYHT Aerospace Solutions Ltd.
FLYHT 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, FLYHT’s triggered 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 and recently changed its trading symbol from AMA to FLY. Shareholders approved a Company name change from AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd. in May 2012.
AFIRS, UpTime, FLYHT, FLYHTStream and aeroQ are trademarks of FLYHT Aerospace Solutions Ltd.
FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
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