MiMedia Appoints Long-Time Senior Telecom Executive and Industry Leader, Steve Andrews, as Board Director
MiMedia adds seasoned telecom leader Steve Andrews to its board and issues new stock options and RSUs to key personnel.
Rhea-AI Summary
MiMedia Holdings (MIMDF) appointed veteran telecom executive Stephen (Steve) Andrews as a Board Director, effective immediately, and approved new equity awards to directors, officers and consultants.
Andrews spent over 25 years at British Telecom in senior commercial and technology roles and has since chaired or advised multiple telecom, data center and technology businesses, including TSXV-experienced companies and global industry consortiums. MiMedia’s CEO said Andrews will support strategy, governance and expansion of the company’s consumer cloud platform with telecom carriers worldwide.
The Board granted options to acquire up to 6,300,000 subordinate voting shares at an exercise price of $0.20, with 6,000,000 options vesting quarterly over three years and 300,000 vesting over one year, each expiring five years from grant. It also granted RSUs for up to 875,000 shares, vesting quarterly over one year starting on the first anniversary of grant. All options and RSUs fully accelerate upon a sale of the company.
Positive
- Appointment of Steve Andrews brings extensive global telecom leadership and board experience
- 6,300,000 stock options granted to directors and officers align compensation with share performance
- 875,000 RSUs granted to directors, officers and consultants support retention over multi‑year period
Negative
- New equity grants for 7,175,000 shares (options plus RSUs) may create future dilution for existing shareholders
AI-generated analysis. How Rhea-AI works. Not financial advice.
New York, New York--(Newsfile Corp. - September 17, 2026) - MiMedia Holdings Inc. (TSXV: MIM) (OTCQB: MIMDF) (FSE: KH3) ("MiMedia" or the "Company") is pleased to announce today that it has appointed Stephen Andrews ("Steve" or "Mr. Andrews") as a Board Director of the Company, effective immediately.
Mr. Andrews is a highly experienced and respected international telecom, media and technology executive, Board Director, Advisor and Investor from the UK.
Steve spent 25+ years of his executive career at the largest telecom carrier in the UK, British Telecom (BT PLC), serving in numerous commercial and technology roles, including President of Global Carrier Business and Networks, Director of European businesses, Managing Director of Group Mobility and Managing Director of Retail Products and Services. In addition to being charged with expanding BT's growth and business reach domestically and internationally, Mr. Andrews also helped manage BT's strategy, legal and regulatory teams.
In the past 10 years, Steve has been a Board Chairman or Non-Executive Director for various telecom, data center and technology businesses, including experience with the TSXV. Mr. Andrews has also held Chairman and Board Advisory roles for a number of the world's significant telco industry consortiums and organizations, where he collaborated with numerous global telcos and technology companies.
Steve previously served as the former Chairman of the Fixed Mobile Convergence Alliance (FMCA) as well as the Telco Futures Forum. He is currently a Board Advisor at the Wireless Broadband Alliance (WBA), a consortium of over 150 corporate and operator members globally, including major fixed and mobile operators, tech giants, and software/hardware vendors that collectively serve over 2 billion subscribers globally.
Chris Giordano, CEO of MiMedia, noted, "Steve has been an excellent investor and advisor to MiMedia over the years. We are now thrilled to call him Board Director. Steve brings to MiMedia deep, wide-ranging and greatly respected experience in the telco industry globally. His network and reputation with telcos all over the world are vast and at the highest levels. He will not only help the Company with core strategy and corporate governance but also with expanding our business' reach and penetration across the telco industry worldwide. As noted in our most recent press release describing our partnership win with a leading regional telco in Africa, the expansion of our platform's capabilities in that deal provides MiMedia with a unique competitive edge to integrate more easily and deliver a broader range of value-added digital services to telco subscriber bases. We are excited to take our unique consumer cloud platform to more telcos globally with Steve's help."
Steve Andrews added, "I have been a long-time investor in MiMedia and enjoyed watching and supporting the Company's strategy formation, platform development and business progress. I believe this team has built something special with their consumer cloud platform that can greatly benefit and delight telco subscribers, while driving important strategic, competitive and financial benefits to the telco's business model. I see a clear and increasing need for MiMedia's offer in telcos and I think the team has created a unique, attractive and easier way to integrate with a telco service platform. I am excited to join this Board and help the Company reach the next level."
Additional Company Matters
Grant of Additional Stock Options and Restricted Share Units: The Board has also approved the grant of options to purchase up to 6,300,000 subordinate voting shares of the Company to certain directors and officers of the Company, in accordance with its omnibus equity incentive compensation plan (the "Options"). 6,000,000 of the Options will vest quarterly over a period of three (3) years from the date of grant (with full acceleration upon a sale of the Company) and will expire five (5) years from the date of grant. 300,000 of the Options will vest quarterly over a period of one (1) year from the date of grant (with full acceleration upon a sale of the Company) and will expire five (5) years from the date of grant. Each Option is exercisable to acquire one subordinate voting share of the Company at a price of
The Board has also approved the grant of restricted share units to acquire up to 875,000 subordinate voting shares of the Company to certain directors, officers and consultants of the Company in accordance with its omnibus equity incentive compensation plan (the "RSUs"). The RSUs will vest quarterly over one (1) year commencing on the first anniversary of the grant date (with full acceleration upon a sale of the Company).
About MiMedia: MiMedia Holdings Inc. provides a next-generation consumer cloud platform that enables all types of personal media to be secured in the cloud, accessed seamlessly at any time, across all devices and on all operating systems. The Company's platform differentiates with its rich media experience, robust organization tools, private sharing capabilities and features that drive content re-engagement. MiMedia partners with smartphone makers and telecom carriers globally and provides its partners with recurring revenue streams, improved customer retention and market differentiation. The platform services engaged users all around the world.
Notice regarding forward-looking statements:
Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements in this press release include statements regarding the appointment of Stephen Andrews and vesting of options and RSUs granted. Such forward-looking statements are based on the current expectations of management of MiMedia. Actual events and conditions could differ materially from those expressed or implied in this press release as a result of known and unknown risk factors and uncertainties affecting MiMedia, including risks regarding the ability of partners to manufacture, ship and sell the anticipated number of devices with MiMedia's platform integrated as the embedded media gallery and the risk that any such manufacture, shipment and sale may be suspended or delayed due to supply chain disruptions, manufacturing and shipping delays or general economic, business and political conditions impacting partner businesses, such as changes in tariffs or financial markets. The Company is highly dependent on the ability of its distribution partners to deploy devices and any delay or failure of a distribution partner to deploy devices in the numbers agreed to and within a reasonable time period could have a material adverse impact on the Company. Additional risk factors are also set forth in the Company's management's discussion and analysis and other filings available via the System for Electronic Document Analysis and Retrieval+ (SEDAR+) under MiMedia's profile at www.sedarplus.ca. Although MiMedia has attempted to identify certain factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be taken as guaranteed. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, readers should not place any undue reliance on forward looking information.
For further information: Contact Chris Giordano or MiMedia Investor Relations at investors@mimedia.com or (888) 502-9398.
NEITHER THE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314762
FAQ
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What roles has Steve Andrews previously held in the telecom industry?
Steve Andrews spent over 25 years at British Telecom in senior roles including President of Global Carrier Business and Networks, Director of European businesses, Managing Director of Group Mobility and Managing Director of Retail Products and Services. Over the last decade he has been Board Chairman or Non-Executive Director for various telecom, data center and technology businesses, and has chaired or advised industry consortiums such as the Fixed Mobile Convergence Alliance and the Telco Futures Forum.
How do the newly granted stock options to MiMedia insiders vest and expire?
MiMedia granted options to purchase up to 6,300,000 subordinate voting shares. 6,000,000 options vest quarterly over three years from grant and 300,000 options vest quarterly over one year from grant. All options are exercisable at $0.20 per share, expire five years from the grant date, and fully accelerate upon a sale of the company.
How does MiMedia describe its consumer cloud platform and partner benefits?
MiMedia provides a consumer cloud platform that secures personal media in the cloud and allows access across devices and operating systems, with features such as rich media experiences, organization tools, private sharing and content re-engagement. The company states that partnerships with smartphone makers and telecom carriers can provide those partners with recurring revenue streams, improved customer retention and market differentiation.