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E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE |
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Validian Announces Annual Meeting Of Shareholders Results |
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OTTAWA, ONTARIO, Oct. 5 -/E-Wire/--
Validian Corporation (OTCBB: VLDI), a leader in application security software and solutions, held its annual meeting of shareholders (Annual Meeting) on Thursday, October 4, 2007 in Ottawa. At the Annual Meeting, shareholders re-elected Bruce Benn and Ronald Benn as Directors for a term to expire at the next Annual Meeting.
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Also approved at the Annual Meeting were a proposal to amend the Company's Restated Articles of Incorporation to increase the number of shares of common stock authorized for issuance from 100,000,000 shares to 300,000,000 shares and to increase the number of shares of preferred stock authorized for issuance from 7,000,000 shares to 50,000,000 shares; a proposal to amend and restate the Company's 2004 Amended Incentive Equity Plan (the ?Plan?) to make certain changes including an increase in the maximum number of shares reserved for issuance pursuant to the Plan from 3,087,698 to 6,087,698; and a proposal to ratify KPMG LLP as Validian's independent auditor for the fiscal year ending December 31, 2007.
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"I'd like to thank our shareholders who voted or provided proxies for our meeting. I'm happy to report that as a result of focusing on outreach to our shareholders, sharing information with them about our corporate governing process, more than 40 million shares, representing more than 85% of the total shares issued and outstanding, have been voted at this meeting," said Bruce Benn, President and CEO of Validian. "I'd also like to thank our shareholders who attended the meeting." About Validian
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Validian Corporation is a leader in the development and marketing of innovative application-security and secure data-exchange software and solutions for public and private enterprises. Validian ASI? is a software-only development and deployment environment for peer-to-peer (P2P) and client-server architectures that enables application authentication and secure data exchange to be integrated directly into applications rapidly and easily, lowering development and deployment costs. ASI protects against attacks by authenticating applications thereby preventing the hacking of applications, and by encrypting and decrypting data within applications to ensure data exchanged between trusted applications never travels in the clear, thereby preventing the theft of data during transit. Cost-effective, simple-to-deploy and easy to manage, Validian solutions facilitate security audit compliance. A U.S. corporation, Validian has offices in the U.S, Canada and Switzerland.
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For more information about Validian Corporation, visit www.validian.com.
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Safe Harbor Statement
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Investors should carefully consider the preceding information as well as information contained in this news release before making an investment in the shares of the company. Information contained in this news release contains "forward looking statements", which can be identified by the use of forward-looking terminology such as "believes," expects," "may," "should," or "anticipates" or negative thereof or given that the future results covered by such forward -looking statements will be achieved. The preceding matters constitute cautionary statements identifying important factors with respect to such forward-looking statements, including certain risks and uncertainties that could cause actual results to vary materially from the future statements. Other factors could also cause actual results to vary materially from the future results covered in such forward-looking statements.
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/SOURCE:
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Validian Corporation |
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10-05-2007 |
/CONTACT:
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The Del Mar Consulting Group, Inc.
Robert B. Prag, President
bprag@delmarconsulting.com
(858) 794-9500
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Bruce Benn
President & CEO
Validian Corporation
(613) 230-7211 Ext 226
bruce.benn@validian.com |
| /WEB SITE: |
http://www.validian.com
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