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GINSMS Inc. Announces Appointment of New CEO
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Marketwire
GINSMS Inc.
January 8, 2013 - 10:11:08 PM
GINSMS Inc. Announces Appointment of New CEO
CALGARY, ALBERTA--(Marketwire - Jan. 8, 2013) - GINSMS Inc. (TSX VENTURE:GIN)
is pleased to announce the appointment of Joel Siang Hui Chin as Chief
Executive Officer ("CEO") of the Corporation effective immediately. Mr. Chin
will also remain the CEO of Inphosoft Group Pte Ltd. the Singapore based
provider of mobile data services and solutions recently acquired by the
Corporation in September 2012.
Commenting on the appointment, Jonathan Lai, Chairman of the Board stated:
"Joel brings a wealth of experience in the mobile data services and solutions
business and will help improve the implementation of the Corporation's
business strategy. He will also help in the pursuit of new opportunities that
have a potential to improve the financial strength of the Corporation."
The Corporation also entered into an amendment to the January 12, 2012 Share
Purchase Agreement entered among the Corporation, Inphosoft Pte. Ltd.,
Inphosoft Group Pte. Ltd., Inphosoft Singapore Pte. Ltd., Inphosoft Malaysia
SDN. BHD., Inphosoft Technology SDN. BHD. and PT Inphosoft Indonesia. The
amendment was required to modify certain terms and conditions of the Share
Purchase Agreement related to the adjustments to the principal amount of the
convertible debentures issued by the Corporation in payment of the purchase
price and placed into escrow following the closing of the acquisition of
Inphosoft Group Pte. Ltd. in September 2012.
About GINSMS
GINSMS owns 100% of Global Edge Technology, a technology company focused on
providing inter-operator short messaging services to mobile telecom operators
in Hong Kong. GINSMS also owns 100% of Inphosoft Group Pte. Ltd., a leader in
providing innovative mobile data services and solutions in the areas of mobile
advertising, mobile payment and banking, mobile service delivery platforms and
mobile social networking services. Since its inception, Inphosoft has
accelerated mobile data adoption through more than 100 deployments globally
for mobile operators, financial institutions, media companies and enterprises.
Inphosoft operates out of three offices in Singapore, Malaysia and Indonesia.
Forward Looking Statements
This news release includes certain forward-looking statements that are based
upon current expectations, which involve risks and uncertainties associated
with GINSMS' business and the environment in which the business operates. Any
statements contained herein that are not statements of historical facts may be
deemed to be forward-looking, including those identified by the expressions
"anticipate", "believe", "plan", "estimate", "expect", "intend", and similar
expressions to the extent they relate to GINSMS or its management. The
forward-looking statements are not historical facts, but reflect GINSMS'
current expectations regarding future results or events. These forward-looking
statements are subject to a number of risks and uncertainties that could cause
actual results or events to differ materially from current expectations,
including the matters discussed under "Risks Factors" in GINSMS' Filing
Statement filed on August 29, 2012 with the regulatory authorities. GINSMS
assumes no obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those reflected in the
forward-looking statements unless required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
GINSMS Inc.
Raymond Richard
Corporate Secretary
450-466-2921
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 this release.
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