SponsorsOne held its annual and special shareholders’ meeting on June 11, 2014. At this meeting, the Company’s board of directors was re-elected with an overwhelming majority of support, the Company’s auditors, MNP LLP were re-appointed and approvals were obtained in respect of enhancing the Company’s ability to raise financing through the creation of three new classes of flexible preferred shares, issuable in series.
The Board also appointed Mr. Fairbairn as the Company’s new CFO. Mr. Fairbairn joins the management team of SponsorsOne to assist the Company in executing its M&A strategy of acquiring boutique digital marketing agencies and social networking companies.
James Fairbairn is a Chartered Accountant who brings to SponsorsOne strong financial leadership skills and extensive experience in both publicly and privately-held companies. He has extensive experience in corporate governance, leadership, mergers & acquisitions, corporate finance, investor relations, financial management and reporting. He is an effective leader with extensive boardroom level experience and strong communication skills.
“James’ impressive accounting and finance experience, specifically as it relates to M&A, is very valuable to SponsorsOne,” said CEO Myles Bartholomew. “We welcome him to our team and believe the timing, as it relates to executing our strategic plan, is ideal for him to maximize his value and significantly contribute to SponsorsOne’s planned rapid, global growth.”
Mr. Fairbairn succeeds Jonathan Leong as CFO. Gary Bartholomew, Executive Chairman of SponsorsOne, commented “Jonathan was effective as an interim CFO, instrumental in guiding us through the first annual audit and quarterly report as a public company and we are grateful for all of his contributions. The Company wishes Jonathan success in his future endeavors.”
In connection with his appointment as CFO, the Company has granted 100,000 stock options to Mr. Fairbairn. The stock options are exercisable at a price of $0.95 and expire ten years from the date of grant. The stock options shall vest 10% upon issuance, 45% on the first anniversary of the date of grant, and the balance on the second anniversary of the date of grant.
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