TSI TelSys Announces Changes in Board of Directors.
Montreal Exchange "TSI" - TSI TelSys Corporation announced today that Dr. Wan Muhamad Hasni Wan Sulaiman has resigned from the position as Chairman of the Board and from the Board of Directors and, subject to Montreal Exchange approval, that Mr. Mohd. Khalil Husain has been appointed to the Board and that Mr. Jamil Bidin had been appointed Chairman of the Board.
Mr. Jamil Bidin is the Group Chief Executive Officer of Abrar Group International Sdn. Bhd., the largest shareholder in TSI TelSys Corporation. The Abrar group is involved in financial services, infrastructure development, telecommunications, information technology, construction, property management and international trading.
Mr. Jamil Bidin was elected to the Board of TSI TelSys Corporation on May 31, 1999. He holds a M.B.A. in Finance from University of Hull, United Kingdom and has held various financial, managerial and executive positions in Malaysia companies over the past fifteen years.
Mr. Khalil Husain is the Deputy Group Chief Executive Officer of Abrar Group International Sdn. Bhd. He holds a M.B.A. in Finance from the University of Hull, United Kingdom and has held various financial positions at companies in Malaysia over the past 25 years, including senior positions at two finance companies during the last ten of these years.
Headquartered in Columbia, Maryland, TSI TelSys is a leading developer and manufacturer of high performance, multi-mission satellite data processing systems for ground station operations and satellite test and integration.
The Company's LavaLogic(TM) business unit is aimed at developing and marketing the next generation of high level electronic design automation (EDA) software for designers of integrated circuits and electronic systems.
Except for historical information contained herein, the matters discussed in this press release contain forward looking statements that, due to uncertainties, may differ materially from actual results.
Further information about TSI TelSys, including copies of press releases, may be found through the TSI TelSys Internet Web site at http://www.tsi-telsys.com. TSI TelSys Corporation is listed on the Montreal Exchange, under the trading symbol "TSI". LavaLogic is a trademark of TSI TelSys, Inc.
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|Date:||Oct 13, 1999|
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