TORONTO, ONTARIO--(April 16, 2012) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company") announces that, during a Special General Meeting of shareholders held April 13, 2012, Dale F. Sparks, formerly an officer of Star, resigned as a director of the Company.
The Special General Meeting, held at the Company's expense, had been called at the request of shareholders for the sole purpose of considering a resolution removing Mr. Sparks as a director. Mr. Spark's unexpected resignation came immediately prior to discussion of the resolution. The resignation was accepted.
The meeting was also advised that the Board, at its next meeting, will consider a change of Company policy to implement majority voting for directors at the next Annual General Meeting of shareholders. This would allow shareholders to vote on the election of directors on an individual basis, as opposed to voting for or against a slate of directors.
The vacancy now existing on the Board of Directors will be filled shortly.
About Star Navigation:
Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance-trends and predicting incident-occurrence enhances aviation safety and improves fleet management while reducing costs for the operator.
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will" and similar expressions, as they relate to Star or its management are intended to identify forward-looking statements. Such statements reflect Star's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Star's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Star does not assume any obligation to update these forward-looking statements, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
