BRAMPTON, Ontario–(BUSINESS WIRE)–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. We pair customer insights and thought leadership with cutting-edge products, modular enabling technology and services to power our clients’ go-to market strategies. We help our 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.
Our extensive experience has positioned us as experts at providing communication solutions across many verticals, including the financial, retail, healthcare, consumer health, energy, and not-for-profit sectors. Thanks to our locations throughout Canada and in the United States (Chicago, Illinois and New York, New York), we are able to meet our clients’ varying needs with scale, speed, and efficiency – no matter how large or complex the ask. And we can do it all with advanced DCM security, regulatory compliance, and bilingual communications, in print or digital.
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 included in this press release constitute forward-looking statements, including, but not limited to, those identified by the expressions “believe”, “will” and similar expressions to the extent they relate to DCM. The forward-looking statements are not historical facts but reflect DCM’s 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 and are not guarantees of future performance. Accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein.
Mr. Gregory J. CochraneChief Executive OfficerDATA Communications Management Corp.Tel: (905) 791-3151
Mr. James E. LorimerChief Financial OfficerDATA Communications Management Corp.Tel: (905) 791-3151[email protected]