MARKHAM, ONTARIO--(Marketwire - Nov. 20, 2010) - Sangoma Technologies Corporation (TSX VENTURE:STC) today announced the grant of stock options effective November 19, 2010.
The Company granted 2,654,160 options to two recently appointed executives of the Company, CEO, William Wignall and CFO, David Moore. Per the terms of the previously reported employment agreements, these options total 8% of the fully diluted shares of the Corporation, expire in 5 years, vest over a period from 1 year to 5 years, and have exercise prices from $0.45 to $0.5625. In accordance with TSX Venture Exchange requirements, approximately half of these options are conditional upon disinterested shareholder approval at the Corporation's Annual and Special Meeting on December 20, 2010.
About Sangoma Technologies Corporation
Sangoma is the premium provider of voice and data connectivity components for software-based communication applications. Sangoma's data cards, voice cards, gateways and connectivity software are used in leading PBX, IVR, contact center and data-communication applications worldwide. The product line represents a comprehensive toolset for deploying cost-effective, powerful, and flexible software communication applications.
Founded in 1984, Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSX VENTURE:STC). Additional information on Sangoma can be found at: www.sangoma.com.