Brampton, Ontario – June 3, 2019 – DATA Communications Management Corp. (“DCM” or the “Company”) (TSX: DCM) announces the launch of its employee share ownership plan (“ESOP” or the “Plan”), which is being offered to all full-time employees of the Company and its subsidiaries.
“Companies who have initiated employee share ownership programs have seen a more engaged and focused workforce – I like to call it the ownership mentality,” said Gregory J. Cochrane, Chief Executive Officer of the Corporation. “We believe the Plan will help further align our employees with shareholders’ long-term interests and our board of directors and senior management team look forward to having many more employees become shareholders in DCM.”
All full-time employees of DCM may contribute up to a maximum of ten per cent of their base salary through regular, automatic payroll deductions. For each $1.00 contributed to the ESOP by an employee, DCM will make a matching contribution of $0.25, up to an annual company contribution of $750 per employee per fiscal year. Employee and matching contributions will be used to acquire common shares of the Company (“Common Shares”) on behalf of employees through open market purchases through the facilities of the Toronto Stock Exchange as soon as reasonably practicable. Common Shares will not be issued from treasury under the Plan.
The Company’s matching contributions will vest immediately, and Common Shares held in the ESOP are not subject to any contractual trading restrictions or other vesting requirements. Upon ceasing employment with DCM for any reason, employees will cease to be eligible to continue their participation in the Plan. Employees may contribute to any or all of an RRSP, TFSA or individual account, and may make changes to their contribution rates and transfer, withdraw, or sell Common Shares at any time, subject to compliance with the terms of the Plan, applicable securities laws and certain limitations applicable to designated insiders during trading blackouts under the Company’s insider trading policy.
ABOUT DATA COMMUNICATIONS MANAGEMENT CORP.
DCM is a communication solutions partner that adds value for major companies across North America by creating more meaningful connections with their customers. DCM pairs customer insights and thought leadership with cutting edge products, modular enabling technology and services to power its clients’ go to market strategies. DCM helps its clients manage how their brands come to life, determine which channels are right for them, manage multimedia campaigns, deploy location specific and 1:1 marketing, execute custom loyalty programs, and fulfill their commercial printing needs all in one place.
DCM’s extensive experience has positioned it as an expert at providing communication solutions across many verticals, including the financial, retail, healthcare, consumer health, energy, and not for profit sectors. As a result of its locations throughout Canada and in the United States (Chicago, Illinois), it is able to meet its clients’ varying needs with scale, speed, and efficiency – no matter how large or complex the ask. DCM is able to deliver advanced data security, regulatory compliance, and bilingual communications, both in print and/or digital formats.
Additional information relating to DATA Communications Management Corp. is available on www.datacm.com, and in the disclosure documents filed by DATA Communications Management Corp. on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
Certain statements in this press release constitute “forward looking” statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of DCM or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward looking statements. When used in this press release, words such as “may”, “would”, “could”, “will”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan”, and other similar expressions are intended to identify forward looking statements. These statements reflect DCM’s current views regarding future events and operating performance, are based on information currently available to DCM, and speak only as of the date of this press release. These forward looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees that future performance or results will be achieved. Many factors could cause the actual results, performance, objectives or achievements of DCM to be materially different from any future results, performance, objectives or achievements that may be expressed or implied by such forward looking statements, including the changes in the Company’s senior management and other factors discussed elsewhere in this press release and under the headings “Liquidity and capital resources” and “Risks and Uncertainties” in DCM’s management’s discussion and analysis and other publicly available disclosure documents, as filed by DCM on SEDAR (www.sedar.com).
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, DCM does not intend and does not assume any obligation to update these forward looking statements.
For further information, contact:
Mr. Gregory J. Cochrane
Chief Executive Officer
DATA Communications Management Corp.
Tel: (905) 791-3151
Mr. James E. Lorimer
Chief Financial Officer
DATA Communications Management Corp.
Tel: (905) 791-3151