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ZoomMed Announces the Filing on Sedar of an Amended Management Proxy Circular

Wed, 11/24/2010 - 6:46am
The Associated Press

ZoomMed Inc. (TSX VENTURE: ZMD) announces the filing today on SEDAR of an amended management proxy circular dated November 24, 2010.

The amendments made to the document are the result of an observation received from the Autorite des marches financiers du Quebec as part of its continuous disclosure review program, and were made to ensure its compliance with the requirements of Regulation 51-102 of the Securities Act.

The amended document is the management proxy circular dated October 25, 2010 regarding ZoomMed's shareholders meeting to be held November 26, 2010.

To comply with the new form 51-102F6, the amendments are described below.

In section Director compensation table, the following text: "The Corporation pays no attendance fees to the Chairman or any other assisting Directors of the Board or Audit Committee members or Human Resources Committee members" was change to "The Corporation pays no remuneration, in any form, to its directors for their attendance and contribution to the Board of Directors, Audit Committee and Human Resource Committee, other than stock option-based awards. Stock option-based awards decision process strictly consisted of Board of Directors discussions, without objectives, criteria or established analysis".

In section Officers' compensation discussion and analysis, the following text was added: "The Officers compensation decision process strictly consisted of Human Resources Committee discussions, without objectives, criteria, nor established analysis".

In section Outstanding share-based awards and option-based awards, the descriptive notes under the three tables of stock option-based awards were modified in order to explain why the company uses the Black-Scholes method to determine the fair market value of stock options.

The amended document is available for consultation on SEDAR at www.sedar.com (http://www.sedar.com) .

The TSX Venture Exchange does not assume any responsibility for the adequacy or accuracy of this press release.

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