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VendTek Systems Announces Granting of Options to Officer(November 01, 2011)
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/01/11 -- VendTek Systems Inc. (TSX VENTURE:VSI) (the "Company"), a developer and licensor of software for the global prepaid and financial services markets, today announced that it has issued options to one of its officers pursuant to the Company's Incentive Stock Option Plan, subject to approval of the TSX Venture Exchange.
200,000 options were granted to Francois Chevalier, Chief Operating Officer. Each option permits the holder to acquire a common share of the Company for $0.43. The options vest in equal parts over 18 months, with the first 1/7 vesting immediately upon grant, and 1/7 vesting on each of the subsequent three month anniversaries of the date of grant. The options expire five years from the date of grant.
VendTek is headquartered in Vancouver, British Columbia, Canada, and develops and licenses automated transaction system software and supporting technologies that improve the efficiency of product delivery, reduce costs to clients and offer superior safety measures. VendTek's customers, its division, Now Prepay and its subsidiaries are using e-Fresh(TM) software to build electronic, prepaid services networks, which enable consumers to purchase prepaid services via point-of-sale terminals (POS) and self-serve terminals connected to a central e-Fresh(TM) server. This system creates significant value through improved efficiencies compared to the traditional distribution paradigm. e-Fresh(TM) reduces shrinkage and inventory requirements while improving consumer access to prepaid services by completely eliminating physical cards and vouchers. For further information please visit the Company's websites www.vendteksystems.com and www.nowprepay.com.
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.
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