RELM Wireless Reports Upon Annual Meeting
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- Directors Reelect George N. Benjamin III as Chairman of the Board -
WEST MELBOURNE, Fla., June 19 /PRNewswire-FirstCall/ -- At the Company's
Annual Meeting on May 21, 2008 directors of RELM Wireless Corporation (Amex:
RWC) reelected George N. Benjamin III to his sixth one-year term as Chairman
of the Board and amended the company's corporate governance guidelines to
eliminate the provision for mandatory retirement of directors at age 72.
Mr. Benjamin has served on the Board of Directors at RELM Wireless
(www.relm.com) since January 1996. A longtime business leader, his career has
included senior executive experience with The Marmon Group; BICC Cables, NA;
TIE/Communications, Inc.; Ericsson, Inc.; and TRIG Systems.
Currently, Mr. Benjamin is a Director of Stonebridge Financial
Corporation, the parent company of Stonebridge Bank (www.stonebridgebank.com),
an Internet-based bank focused on national customer accounts while directing
its lending practice in the Delaware Valley from its headquarters in West
Chester, PA. Mr. Benjamin serves as Chairman of the Compensation Committee,
and as a member of the Asset and Liability Committee of Stonebridge Financial
Corporation.
In addition, Mr. Benjamin continues to serve as the Lead Independent
Director of Seattle-based AuBeta Networks Corporation (www.aubeta.net), a
Secured Wide Area Networks (SWAN) company serving the commercial and financial
industry, and as Chairman of the Corporate Strategy Committee and a member of
the Audit and Capital Committees.
In recent years Mr. Benjamin has specialized in consulting on acquisitions
and mergers, restructuring and turnarounds, entrepreneurial startups, and new
business expansion for domestic and international companies in the
telecommunications technology, electronic instrumentation, electro-mechanical
equipment, and wire and cable industries through TRIG Systems, a worldwide
management consulting company. From 1997 to 1999 he served as President of
BICC Brand-Rex and from 1998 to 1999 as President and Chief Executive Officer
of BICC Cables Corp., N.A. From 1988 to 1995 he was Group Vice President of
The Marmon Group, Inc.; from 1992 to 1995 he was President and Chief Executive
Officer of TIE/Communications, Inc.; and from 1985 to 1987 he was President of
Ericsson, Inc., a wholly owned subsidiary of Ericsson, N.A.
Mr. Benjamin holds three U.S. patents involving solid dielectric insulated
high-voltage cable design and manufacturing equipment and processes.
Additionally, the Board amended the company's corporate governance
guidelines to eliminate a provision that no individual will be eligible to be
nominated for election or reelection as a director upon attaining the age of
72.
The full text of the company's corporate governance guidelines may be
found in the corporate governance section of the Company's web site at
www.relm.com.
About RELM Wireless
For more than 60 years, RELM Wireless Corp. has manufactured and marketed
high-specification two-way communications equipment for use by public safety
professionals and government agencies, as well as radios for use in a wide
range of commercial and industrial applications, including disaster recovery.
Advances include new interoperable, low-cost digital two-way radios compliant
with APCO Project 25 technical specifications. Products are manufactured and
distributed under BK Radio, RELM/BK and RELM product lines. The Company
maintains its headquarters in West Melbourne, Florida and can be contacted
through its web site at www.relm.com or directly at 1-800-821-2900.
This press release contains certain forward-looking statements that are
made pursuant to the "Safe Harbor" provisions of the Private Securities
Litigation Reform Act Of 1995. These forward-looking statements concern the
Company's operations, economic performance and financial condition and are
based largely on the Company's beliefs and expectations. These statements
involve known and unknown risks, uncertainties and other factors that may
cause the actual results, performance or achievements of the Company, or
industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Such factors and risks include, among others, the following:
reliance on contract manufacturers; heavy reliance on sales to the U.S.
Government;; federal, state and local budget deficits and spending
limitations; limitations in available radio spectrum for use by land mobile
radios; general economic and business conditions; changes in customer
preferences; competition; changes in technology; changes in business strategy;
the debt and inventory levels of the Company; quality of management, business
abilities and judgment of the Company's personnel; and the availability, terms
and deployment of capital. Certain of these factors and risks, as well as
other risks and uncertainties, are stated in more detail in the Company's
Annual Report on Form 10-K for the year ended December 31, 2007 and in the
Company's subsequent filings with the SEC. These forward-looking statements
are made as of the date of this press release, and the Company assumes no
obligation to update the forward-looking statements or to update the reasons
why actual results could differ from those projected in the forward-looking
statements.
SOURCE RELM Wireless Corporation
Company Contact, David Storey, President & CEO of RELM Wireless Corporation,
+1-321-984-1414; or Investor Relations Contact, R Jerry Falkner, CFA of R J
Falkner & Company, Inc., 1-800-377-9893
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