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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Elcom Itl | LSE:ELC | London | Ordinary Share | COM SHS USD0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9162Y Elcom International Inc 25 June 2007 Elcom International, Inc. ("Elcom" or the "Company") Board changes NORWOOD, MA, June 25, 2007 - Elcom International, Inc. ("Elcom" or the "Company") (PINKSHEETS: ELCO), a leading international provider of Commerce Process Management solutions for buyers, suppliers and commerce communities, today announces that the Company and John Halnen have mutually agreed to separate and that with effect from June 20, 2007, Mr Halnen is no longer President and Chief Executive Officer of the Company. The Company is discussing final severance arrangements with Mr. Halnen. On June 20, 2007, Gregory King, was appointed as the Company's Chief Executive Officer on an interim basis until such time as the Company appoints a new officer to serve in this position. Gregory King was appointed as a Director of the Company on April 21, 2006. On the same date, Mr. King was appointed Executive Vice President of Business Development of the Company. Mr. King, who is 54, originally joined the Company's Elcom, inc. technology subsidiary in April of 1997 as Vice President of Product Marketing, in conjunction with the acquisition of a procurement software application by Elcom, inc. Mr. King was a part owner of rights to the acquired technology. Mr. King has been the Vice President of Sales and Marketing of Elcom, inc., and has served in similar capacities for over five years. Mr. King is also the global head of the Company's sales and marketing functions. Mr. King is a citizen of the United States. About Elcom International, Inc. Elcom International, Inc. (PINKSHEETS:ELCO), is a leading international provider of Commerce Process Management solutions for buyers, suppliers and commerce communities. Commerce Process Management refers to the ability to effectively manage the large-scale exchange of goods and services, using information technology and best practices, between different organizations, including the purchase, sale, exchange of commodities and services and their receipt and payment in one seamless end-to-end integrated process. Beyond the current generation of "On Demand" solutions available in the market, Commerce Process Management Solutions provided by Elcom offer true value for money by eliminating the burden and cost of in-house programming, IT infrastructure and ongoing system management. More information is available from Elcom's website at: www.elcom.com STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT Except for the historical information contained herein, the matters discussed in this press release could include forward-looking statements or information. All statements, other than statements of historical fact, including, without limitation, those with respect to the Company's objectives, plans and strategies set forth herein and those preceded by or that include the words "believes", "expects", "targets", "intends", "anticipates", "plans", or similar expressions, are forward-looking statements. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that the Company's expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties which could cause the Company's future results to differ materially from those anticipated, including: (i) the necessity for the Company to control its expenses as well as to generate incremental, ongoing operating revenues and whether this objective can be met given the overall marketplace and clients' acceptance and usage of eCommerce software systems, eProcurement and eMarketplace solutions including corporate demand therefore, the impact of competitive technologies, products and pricing, particularly given the substantially larger size and scale of certain competitors and potential competitors; (ii) the consequent results of operations given the aforementioned factors; and (iii) the necessity of the Company to achieve profitable operations within the constraints of its existing resources, and if it can not, the availability of incremental capital funding to the Company, particularly in light of the audit opinion from the Company's independent registered public accounting firm in the Company's 2005 Annual Report on Form 10-KSB, as amended, and other risks detailed from time to time in its March 31, June 30, and September 30, 2006 Quarterly Reports on Form 10-QSB and in its other SEC reports and statements, including particularly the Company's "Risk Factors" contained in the prospectus included as part of the Company's Registration Statement on Form S-3 filed on June 21, 2002. The Company assumes no obligation to update any of the information contained or referenced in this press release. - END - This information is provided by RNS The company news service from the London Stock Exchange END BOAKGGZVNZLGNZM
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