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Technology Stocks : FLYHT Aerospace Solutions Ltd.

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From: Sultan11/13/2017 12:02:34 PM
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FLYHT Appoints Matieu Plamondon Chief Operating Officer


CALGARY, AB--(Marketwired - November 13, 2017) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) ( FLYLF) (the "Company" or "FLYHT"), the leading provider of real-time data streaming technology that enhances the efficiency and safety of aircraft, today announced that it has appointed Matieu Plamondon as Chief Operating Officer of the Company.

Previously, Mr. Plamondon was Vice President Operations & Customer Fulfillment, leading FLYHT's global operations team in the areas of hardware production, supply and maintenance, account management and customer support, as well as program and supplier management. In his new role, Mr. Plamondon will develop and enhance operational policies and strategic plans aimed at driving profitable growth, while monitoring organizational productivity and customer satisfaction. Functional areas reporting to Mr. Plamondon will be FLYHT's operations, aircraft certification engineering and software personnel, as well as program management and production supply teams.

"Mat is a results-oriented leader who, over the last 15 years, has led several airline operations teams as well as aerospace product and service teams," stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. "During his tenure at FLYHT, Mat has been instrumental in streamlining and improving our various operating areas at home and abroad, in addition to continuously increasing customer satisfaction." Schmutz added, "We look forward to Mat driving FLYHT's organizational effectiveness even higher and continuing to maximize the value that customers get from our leading products and services."

As part of Mr. Plamondon's promotion to his new role, he was granted 20,000 additional incentive stock options on November 3, 2017. Also on this date, 75,000 incentive stock options were granted Derek Payne, who became FLYHT's Chief Financial Officer effective November 6, 2017.

Both Mr. Plamondon and Mr. Payne's stock options were issued at FLYHT's closing price on November 3, 2017. The stock options issued to each of Mr. Plamondon and Mr. Payne are exercisable at a price of $2.10 per common share, will vest on November 3, 2018, and expire on December 31, 2021.

A maximum of 10% of FLYHT's issued and outstanding shares are reserved under the Company's stock option plan. The stock options and any common shares issued upon exercise of the stock options are subject to a four-month resale restriction.
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