IOU Financial Announces New Director and Reports on AGM Results and on Grant of Stock Options

IOU Financial (TSXV:IOU) has reported results of its Annual General and Special Meeting of Shareholders held on June 20, 2017.
As quoted in the press release:

At the Meeting, shareholders approved the appointment of all directors proposed for election, which comprised the existing slate of directors other than Jason Cawley, who chose not to stand for re-election for personal reasons and who was replaced by Wayne Pommen. Shareholders also approved the reappointment of PricewaterhouseCoopers LLP as the Company’s auditors as well as the Company’s rolling Stock Option Plan.
Wayne Pommen is President and CEO of Health Smart Financial Services. Mr. Pommen is currently a director and the Chairman of the Audit Committee of Hudson’s Bay Company. Previously, Mr. Pommen was a Principal at TorQuest Partners, one of Canada’s leading private equity firms, and a management consultant with Bain & Company in the United Kingdom, the United States, and Canada. Mr. Pommen also served as a strategy director at BPP Holdings plc, a publicly listed provider of professional education in the United Kingdom and Europe. Mr. Pommen holds a Ph.D. from the University of Cambridge and an A.B. from Harvard University. Mr. Pommen has also completed the Directors Education Program of the Institute of Corporate Directors and has received his ICD.D designation.
In acknowledging Jason Cawley’s contribution to IOU Financial, Evan Price, Chairman of the Board of Directors, stated “We thank Jason Cawley for his valuable services to the Board of Directors. We wish him much success in his future endeavours.”
Grant of Stock Options
On this date, the Company granted options entitling directors, officers, employees and consultants to acquire up to an aggregate of 2,058,000 Common Shares of the Corporation (“Common Shares”); these options have an exercise price of $0.27 and a term of five years from the date of grant with one-third (1/3) vesting immediately and one-third (1/3) vesting on each of the first and second anniversaries of the date of grant.

Click here to read the full press release.