Neotel International Inc.
TSX VENTURE : NIT

Neotel International Inc.

October 25, 2005 07:00 ET

Neotel International Inc.: Results of Annual Shareholders Meeting

MARKHAM, ONTARIO--(CCNMatthews - Oct. 25, 2005) - Neotel International Inc. ("Neotel") (TSX VENTURE:NIT), and its President, Howard Phee announce that, at its Annual and Special Meeting of shareholders held on September 28, 2005 the following nominees were appointed to the Board of Directors. Howard Phee, George Solomos, Samuel Runza, Gordon Gow and Herbert Horowitz were all re-appointed. Messrs. Patrick Sherman and Donald Hathaway are new appointees.

Mr Sherman has had 35 years of experience in the information technology industry, 25 years at a senior management level, involved in a variety of line and staff roles with IBM in Delivery Management, Marketing and Sales. During that time he has actively managed large projects in the public sector, in banking, finance, and in the utilities industry. Mr. Sherman has extensive experience in the areas of project management, systems integration, systems development and Privacy and security assessments with very large corporate and public sector clients.

Donald B. Hathaway, FCMC, is a senior executive with broad experience and industry knowledge and has demonstrated success in diverse corporate settings, including the US. As a senior partner in management consulting he developed specialist skills including corporate "work-outs," finance and capital markets, business valuation, negotiation and contracting, telecommunications and information technology, and corporate governance (especially audit, compensation and nominating committees). Currently, he is the Chairman of the Board of Atlantis Systems Corp. (TSX: AIQ), its wholly-owned subsidiary Atlantis Systems International and of the not-for-profit Softcare Institute. He is a member of the Institute of Corporate Directors and of its Corporate Governance College. Mr. Hathaway obtained a B. Eng (Electrical,) and a B.Sc (Mathematics) from Sir George Williams University and an MBA from the Schulich Business School, York University, followed by a diploma in Economic Value Analysis (EVA for Executives) from the Kellogg Business School, Northwestern University.

Shareholders approved the re-appointment of Kraft, Berger, Grill, Schwartz, Cohen & March LLP as auditors for the Company and authorized the Board of Directors to fix their remuneration.

Shareholders also approved the 2005 Stock Option Plan. Under the 2005 Stock Option Plan a maximum of 10% of the issued and outstanding common shares of the Company will be reserved for options to be granted at the discretion of the Board of Directors. The Plan will now be filed with TSX Venture Exchange for approval prior to the granting of any options.

At the directors meeting, held immediately following the shareholders meeting, George Solomos was appointed Chairman & Founder; Howard Phee was appointed President and CEO; Cam Johnston was appointed Chief Technical Officer and Senior Vice President.

The Audit and Governance/Compensation Committees for the ensuing year are both comprised of Donald Hathaway, Chair, Samuel Runza and Gordon Gow.

ABOUT NEOTEL INTERNATIONAL INC.

Neotel International Inc. is a provider of identity, security and trust solutions as well as professional services specializing in industry based biometric identification solutions.

Additional information about Neotel is available at www.neotel.ca

13,920,784 shares outstanding

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Neotel International Inc.
    Howard Phee
    President
    (905) 948-9229 ext: 22