23rd Jan 2009 07:00
Enova Systems, Inc. 23 January 2009 Enova Systems, Inc. ("the Company")
Enova Systems Inc. announces that it has issued 112,500 new common shares pursuant to the Company's Director Compensation Plan ("the Directors' Plan") for services rendered to the Company during the fourth quarter of 2008.
The Directors' Plan provides that each quarter, directors of the Company who are not also officers receive remuneration of US$12,500 of which US$5,000 is paid in cash and US$7,500 is paid in common shares issued at the closing mid market price on the last business day of that quarter. Furthermore, each Audit Committee member receives an additional US$5,000 and the Audit Committee Chairman receives an additional US$10,000 in compensation.
|
Director
|
Total Shares
|
% Capital
|
|
Bjorn Ahlstrom
|
43,675
|
less than 1%
|
|
Malcolm Currie
|
56,343
|
less than 1%
|
|
John Micek
|
34,237
|
less than 1%
|
|
Edwin Riddell
|
50,746
|
less than 1%
|
|
John Wallace
|
44,267
|
less than 1%
|
|
Roy Roberts
|
23,574
|
less than 1%
|
Related Shares:
Enova Systems Inc