Zoomd's Director and former CEO, Ofer Eitan, Establishes Automatic Share Disposition Plan
Rhea-AI Summary
Zoomd Technologies (TSXV: ZOMD, OTC: ZMDTF) announced that director and former CEO Ofer Eitan has established an Automatic Securities Disposition Plan (ASDP). The plan allows for the sale of up to 2 million shares through an independent broker until December 31, 2025, with trades beginning no earlier than May 5, 2025.
The ASDP includes a 10% daily volume restriction and a minimum floor price. The broker cannot consult with Eitan regarding sales, and Eitan cannot influence or modify the plan. The company, established in 2012 and listed on TSX Venture Exchange since 2019, operates a mobile app user-acquisition platform that integrates multiple digital media outlets, offering advertisers unified campaign management and cost efficiency.
Positive
- None.
Negative
- Insider selling: Former CEO plans to sell up to 2 million shares
- Potential downward pressure on stock price due to significant share dispositions
The ASDP permits trades to be made in accordance with pre-arranged instructions given to the independent broker administering the ASDP, which include a general
Up to two million (2,000,000) may be sold under the ASDP, subject to a minimum floor price set in the ASDP. The ASDP is designed to allow for an orderly disposition of such securities to be sold until December 31, 2025. The first trades under the ASDP will not occur before May 5, 2025.
The ASDP prohibits Mr. Eitan from amending, suspending or terminating the ASDP.
This announcement is made and will be available on SEDAR+ at www.SEDARplus.ca pursuant to the recommended practices set forth in Staff Notice 55-317 - Automatic Securities Disposition Plans of the Canadian Securities Administrators ("SN 55-317"). Dispositions pursuant to the ASDP will be reported by Mr. Eitan in accordance with applicable Canadian securities legislation and SN 55-317.
ABOUT ZOOMD:
Zoomd (TSXV: ZOMD, OTC: ZMDTF), established in 2012 and listed on the TSX Venture Exchange since September 2019, provides an innovative mobile app user-acquisition platform that integrates with numerous global digital media outlets. This platform presents a unified view of multiple media sources, thereby serving as a comprehensive user acquisition control center for advertisers. It streamlines campaign management through a single point of contact, simplifying customer acquisition efforts. The consolidation of media sources onto one platform enables Zoomd to offer advertisers substantial savings by reducing the need for disparate data source integration, enhancing data collection and insights, and minimizing resource expenditure.
Neither TSX Venture 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Company Media Contacts:
Amit Bohensky
Chairman
Zoomd
ir@zoomd.com
Website: www.zoomd.com
Investor relations:
Lytham Partners, LLC
Ben Shamsian
ZOMD@lythampartners.com
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SOURCE Zoomd Technologies Ltd.
FAQ
How many shares can be sold under Zoomd's (ZMDTF) ASDP plan?
When will the first trades under ZMDTF's ASDP begin?
What is the daily trading volume restriction in Zoomd's ASDP?
When does Zoomd's (ZMDTF) ASDP plan expire?
Can Ofer Eitan modify or terminate the ZMDTF share disposition plan?
