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SIO

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0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:SIO TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

SENSIO Announces New Composition of Its Board of Directors

24/01/2014 8:00pm

Marketwired Canada


SENSIO Technologies Inc. ("SENSIO" or "the Company") (TSX
VENTURE:SIO)(OTC:SNIOF), announced today the new composition of its Board of
directors, following its annual meeting which took place earlier today in
Montreal.


The Board of directors elected today comprises the following new members:



--  Mr. Georges Karam - Chairman of the Board 
    
--  Mr. Yann Paquet - Board director and member of the Audit committee 
    
--  Mr. Mathieu Peloquin - Board director and member of the Audit committee 



Additionally, two members of the outgoing Board of directors are renewing their
tenure:




--  Mr. Yvan Goineau - Board director and President of the Audit committee 
    
--  Mr. Nicholas Routhier - Board director and President & Chief Executive
    Officer of the Company 



Changes to remuneration and structure

For the purpose of enabling the company to use its funds for further development
of 3DGO!, a new remuneration method has been established, under which
independent Board members will be remunerated solely in stock options of the
Company. The remuneration will be applied as follows, at the price of $0.12 per
share, representing the closing price of the stock on January 23, 2014:




--  Chairman of the Board: 225,000 options 
    
--  Chairman of the Audit committee: 175,000 options 
    
--  Other independent members of the Board: 125,000 options 
    
--  Total: 650,000 options 



"We strongly believe in SENSIO and we wish to show our commitment to the Company
by forfeiting a traditional form of remuneration in favor of this options-based
method," said Georges Karam, Chairman of the Board. "By doing so, we are
ensuring that SENSIO's financial resources will be dedicated to development
efforts for the years to come. We're eager to contribute to the success of the
Company in the coming months and years, and this is merely one of our first
efforts to that end."


In order to alleviate the structure of the Board, its members have also agreed
to abolish the Human Resources committee. Instead, related decisions will now
devolve directly to the Board.


Extension of options for outgoing members of the Board of directors

Current members of the Board have also agreed to extend the validity of options
belonging to outgoing members of the Board until January 23rd, 2015, subject to
the approval of the TSX Venture Exchange. 


"By extending the validity of their options, we wish to acknowledge the
outstanding work of our outgoing Board members", said Nicholas Routhier,
President & Chief Executive Officer of the Company. "Their support and
continuous efforts over all these years were crucial for the development of the
Company, notably for the inception and launch of 3DGO!, and we owe them a great
part of our continued success."


For further information on SENSIO and its technologies, please visit www.sensio.tv 

About SENSIO Technologies Inc. (SENSIO): 

SENSIO Technologies Inc. (www.sensio.tv) has been leading the floor in bringing
3D video to the consumer since 1999. Its vision, expertise and state-of-the-art
solutions, based on diversified stereoscopic image-processing technologies, have
been trusted by some of the biggest names in the media and entertainment
industries to power numerous industry firsts, initiate new business models and
generate immediate revenue with a distinctive 3D offering.


SENSIO enables its clients to deliver the best possible 3D experience for the
end-user through a broad portfolio of products, including its flagship,
award-winning technology, SENSIO(R) Hi-Fi 3D. Through SENSIO solutions,
consumers can access - with effortless interaction and complete peace of mind -
3D content of superior quality to common frame-compatible formats distributed
over existing infrastructure (cable, satellite or over IP) and displayed using
any existing digital equipment (cinema, home cinema, TV, game consoles or PC).
SENSIO is listed on the Toronto TSX Venture Exchange.


SENSIO(R) is a registered trademark of SENSIO Technologies Inc.

Caution Concerning Forward-Looking Statements 

Certain statements made in this press release that are not historical facts are
forward-looking statements and are subject to important risks, uncertainties and
assumptions, both general and specific, which give rise to the possibility that
actual results or events could differ materially from our expectations expressed
in or implied by such forward-looking statements. As a result, we cannot
guarantee that any forward-looking statement will materialize and readers are
cautioned not to place undue reliance on these forward looking statements. For
more exhaustive information on these risks and uncertainties, the reader should
refer to the risk factors described in the management's discussion and analysis
of SENSIO for the quarter ended November 30, 2013. The forward-looking
statements contained in this press release represent our expectations as of the
date hereof. We disclaim any intention and assume no obligation to update or
revise any forward-looking statements. Forward-looking statements are presented
for the purpose of providing information about management's current expectations
and plans and allowing investors and others to obtain a better understanding of
our anticipated operating environment. Readers are cautioned that such
information may not be appropriate for other purposes. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


Facebook: http://www.facebook.com/SENSIO3D 

Twitter: http://twitter.com/SENSIO3D 

LinkedIn: http://www.linkedin.com/company/337733?trk=tyah 

YouTube: http://www.youtube.com/sensio3dtech

FOR FURTHER INFORMATION PLEASE CONTACT: 
SENSIO
Eric Choquette
Chief Financial Officer
+1 514-846-2022
eric.choquette@sensio.tv

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