AeroMechanical Services Ltd.
TSX-V Trading Symbol "AMA"
A Tier 2 Industrial Issuer
CALGARY
,
Aug. 5
/CNW/ - AeroMechanical Services Ltd. ("AMA") announces that
Mr. Richard Hayden
, currently, Director, Business Aviation at AMA, will replace
Mr. Darryl Jacobs
as President of AMA.
Mr. Jacobs
, has been offered a senior position focusing his efforts on the product and research for products applicable to AMA's business.
Mr. Jacobs
will remain on the advisory board as well as remain a director of AMA.
Mr. Hayden
will be joining the board as a director, subject to the Exchange's approval.
Mr. Hayden
, a mechanical engineer by training (BS, Norwich University; MS, Purdue University), has led the development and successful transition into production of new monitoring and diagnostic technologies and products for aviation for 25 years. The common theme has been automated acquisition, processing, and fusion of sensor data to support improved operations, compliance, and maintenance enhancements. As founder and CEO of Technology Integration Inc., he provided vision and collaborated with end users, OEMs, and industry partners to optimize product capabilities and suitability, as well as building staff and partners that created two innovative products that are now industry standards: IMD-HUMS (Integrated Mechanical Diagnostics-Health and Usage Management System) for helicopters, acquired and produced by Goodrich Corporation (GR:NYSE) and now standard fit on several Sikorsky Aircraft (UTX:NYSE) products and several US military platforms; and ANOMS(TM) (Airport Noise and Operations Monitoring System), now a Lochard (
www.lochard.com
) product installed at major airports globally.
Mr. Hayden
was with Meggitt (MGGT:L) from 2002 until
June 30
of this year and has served as the primary interface between AMS and Meggitt for the past 2-1/2 years. In his new role, he will continue to provide connectivity and coordination between the two organizations to help deliver highly effective monitoring and data delivery solutions to the aviation industry.
Mr. Hayden
brings a wealth of industry contacts and opportunities within many sectors of the aviation industry.
Mr. Hayden
said, "I am excited about this new role in AMA and have been a strong proponent of the technologies, people, and customers that AMA has assembled during Darryl's tenure. I am looking forward to working with Darryl and the whole AMA team to drive a world class organization."
Bill Tempany, AMA's CEO said "The board and I really feel that the team will benefit from the experience that Dick brings to our company and we believe that AMA will receive a huge benefit by having Darryl focused on our products and our future. We are fortunate to be able to attract an executive of Dick's caliber and experience in introducing new technology into aviation and look forward to the help and direction he can give our organization."
AMA also wishes to also announce that it has granted incentive stock options for a total of 250,000 common shares of the Corporation at a price of
$0.47
per share for a period of three years, under the formal stock option plan approved at the Annual General Meeting held in May, 2008, subject to regulatory approval. 200,000 options are being issued to
Mr. Hayden
and the balance (50,000) to an employee of AMA. A maximum of 10% of the issued shares are reserved for issuance for the Corporation's Stock Option Policy. The options are subject to a four month hold period expiring
December 2, 2008
.
