Board Elects R. Preston Roberts Chairman of the Board
CHICAGO, March 26 /PRNewswire-FirstCall/ -- Veltex Corporation (Pink Sheets: VLXC) announced that at the 2009 Annual Meeting of Stockholders held in Chicago on March 10, 2009, its shareholders elected a complete slate of five new directors to the board. Those elected were R. Preston Roberts, Wayne H. Hanson, James Jacob, Robert Fletcher and Stephen G. Macklem which now comprise the entire Board of Directors of Veltex.
Additionally, at the regularly scheduled meeting of the Board of Directors held in conjunction with the Annual Meeting, the Board elected R. Preston Roberts, Chairman of the Board.
Mr. Roberts told those attending at the meeting that "I am honored to lead Veltex into the next phase and shareholders should expect to see developments in the near future as we are exploring all options available to us to augment shareholder worth. I am excited about working with this highly experienced and talented board of directors. This is a team long overdue at Veltex."
Wayne H. Hanson was named as President. Mr. Hanson also commented that "Veltex under this new leadership will be putting a renewed emphasis on raising capital and securing lines of credit. Further, we will be looking to the current economic downturn which should present numerous opportunities for the Board to explore. This new Board intends to move swiftly with plans to vitalize Veltex."
Veltex recently moved its corporate operations to 123 West Madison Avenue in Chicago, Illinois. The company has also changed transfer agents and is now contracted with the Illinois Stock Transfer Company in Chicago.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Veltex or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
SOURCE Veltex Corporation