CALGARY, Jan. 3 - AeroMechanical Services Ltd. ("AMA") announced today it has completed the exercise of warrants and stock options that expired on December 31st, 2007. During that past year, 7.6 million shares were purchased for total proceeds of $3.6 million. Fully 19% of those shares were exercised by employees, directors, officers, and contractors.
"That brings the tally to 92% of our employees now holding shares in our company," said CEO Bill Tempany. "We are very pleased by that show of confidence, and this committed group of people will accelerate the progress made in 2007. We want to thank all of our shareholders for their support and well wishes throughout last year and we will strive to make 2008 a year to remember. The patience of our shareholders has been greatly appreciated by the management and board of AMS."
About AeroMechanical Services Ltd.
AeroMechanical Services Ltd. provides proprietary technological solutions and services designed to reduce costs and improve efficiencies in the airline industry. The company has successfully commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology afirs(TM) UpTime(TM) allows airlines to monitor and manage aircraft operations anywhere, anytime, in real-time. Due to the competitive nature of the marketplace AMS is maintaining its position to withhold the airline's name and specific location. For further clarification of potential contract values please refer to AMA quarterly reports.
afirs, UpTime, FLYHT and aeroQ are Trade Marks of AeroMechanical Services Ltd.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
Contacts
Tom French
CFO
AeroMechanical Services Ltd.
(403) 291-7427
tfrench@amscanada.com
www.amscanada.com
Bob Beaty
The Howard Group Inc.
Toll Free: 1-888-221-0915
Info@howardgroupinc.com
www.howardgroupinc.com
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