M . Ba ett’s appoi tme t follows a fo mal sea ch p ocess co ducted by a subcommittee of i depe de t di ecto s a d app oved by the Boa d of Di ecto s. The Boa d co side ed both i te al a d exte al ca didates befo e u a imously selecti g M . Ba ett. Co siste t with good gove a ce p actice, M . Ba ett ecused himself f om all Boa d discussio s, delibe atio s a d decisio s elati g to the CEO sea ch. The Boa d has dete mi ed that M . Ba ett will co ti ue to se ve as Chai while assumi g the ole of P eside t a d Chief Executive Office .
“ZTEST has built a a e fou datio fo a Ca adia mic o-cap compa y: a p ofitable ope ati g busi ess, co siste t f ee cash flow ge e atio , a d a st o g bala ce sheet with almost $5 millio i cash,” said M . Ba ett. “As CEO, my p io ity will be discipli ed capital allocatio – suppo ti g Pe matech’s co ti ued g owth, developi g a obust pipeli e of p ofitable acquisitio oppo tu ities a d maki g decisio s that e ha ce lo g-te m i t i sic value o a pe -sha e basis fo ou sha eholde s.”
“Dave b i gs st o g a alytical skills, sou d judgme t a d a lo g-te m i vesto mi dset,” said T evo T eweeke, Di ecto of ZTEST Elect o ics. “The Boa d believes he is well suited to wo k alo gside ou existi g ope ati g team as we execute o the Compa y’s ext phase of g owth.”
M . Ba ett is a CFA cha te holde with mo e tha 25 yea s of expe ie ce i capital ma kets, e te p ise isk a d busi ess evaluatio . He bega his ca ee at BMO Nesbitt Bu s, whe e he spe t six yea s ac oss po tfolio ma ageme t, co po ate t easu y a d debt capital ma kets. He cu e tly se ves as Vice P eside t a d Se io Co sulta t, Risk Co t ol at Ao , advisi g se io executive teams at majo Ca adia co po atio s a d gove me t o ga izatio s o e te p ise isk, ope atio al esilie ce a d capital p ese vatio . Si ce 2016, he has also co ducted i depe de t isk a d busi ess evaluatio s ac oss ma ufactu i g, co st uctio , fo est y a d i dust ial secto s fo No thb idge I su a ce, Aviva Ca ada a d iV3 Solutio s. I additio to his p ofessio al expe ie ce, M . Ba ett b i gs mo e tha 25 yea s of pe so al expe ie ce i vesti g i mic o-cap compa ies, with a discipli ed, valuatio -focused app oach to ide tifyi g lo g-te m value. He also holds a Bachelo of Busi ess Admi ist atio i Fi a ce f om Simo F ase U ive sity.
M . Ba ett has be eficial co t ol ove 990,500 commo sha es of the Compa y, ep ese ti g app oximately 2.7% of sha es outsta di g.
ZTEST Elect o ics I c., th ough its wholly ow ed subsidia y Pe matech Elect o ics Co po atio (“Pe matech”), offe s Elect o ic Ma ufactu i g Se vices (EMS) to a wide a ge of custome s. Pe matech’s offe i g i cludes P i ted Ci cuit Boa d (PCB) Assembly, Mate ials Ma ageme t a d Testi g se vices. Pe matech ope ates f om a ISO 9001:2015 ce tified facility i No th Yo k, O ta io, Ca ada. Pe matech is a co t act assemble of complex ci cuit boa ds, se vi g custome s i the Medical, Powe , Compute , Telecommu icatio s, Wi eless, I dust ial, T ucki g, Wea ables a d Co sume Elect o ics ma kets. It specializes i se vici g custome s who a e looki g fo high yield a d equi e high quality a d apid-tu a ou d o low a d mid-volume p oductio of high complexity p oducts.
Fo mo e i fo matio , co tact: Dave Ba ett, 604-897-9663, email:
Neithe the Ca adia Secu ities Excha ge o its Ma ket Regulato (as that te m is defi ed i the policies of the CSE) accepts espo sibility fo the adequacy o accu acy of this elease.
FORWARD-LOOKING STATEMENTS: This p ess elease co tai s fo wa d looki g stateme ts, which elate to futu e eve ts o futu e pe fo ma ce a d eflect ma ageme t’s cu e t expectatio s a d assumptio s. Such fo wa d looki g stateme ts eflect ma ageme t’s cu e t beliefs a d a e based o assumptio s made by a d i fo matio cu e tly available to the Compa y. I vesto s a e cautio ed that these fo wa d-looki g stateme ts a e eithe p omises o gua a tees a d a e subject to isks a d u ce tai ties that may cause futu e esults to diffe mate ially f om those expected. These fo wa d looki g stateme ts a e made as of the date he eof a d, except as equi ed u de applicable secu ities legislatio , the Compa y does ot assume a y obligatio to update o evise them to eflect ew eve ts o ci cumsta ces. All of the fo wa d-looki g stateme ts made i this p ess elease a e qualified by these cautio a y stateme ts a d by those made i ou fili gs with SEDAR+ i Ca ada (available at www.seda plus.com).
