Solium Capital Inc. Announces Launch of New Company, StockVantage Inc.
Calgary, Alberta, April 2, 2007 – Solium Capital Inc. (“Solium”) is pleased to announce that it is expanding its product suite by launching a wholly owned subsidiary, StockVantage Inc. StockVantage™ will leverage the power of Solium’s Shareworks™ technology to deliver powerful solutions for companies with smaller stock option plans. Offering scaled down, self-service functionality, StockVantage is targeted at companies that have less elaborate plans but face the similar regulatory and reporting requirements as large companies with complex stock plans.
“Solium has established itself as a premier provider offering medium and large cap companies an elegant, comprehensive and efficient service for administering all facets of their employee equity plans. However, we have seen small and medium sized companies with small plan populations face similar regulatory and compliance demands of the biggest companies with the biggest plans. Solium, with the creation of StockVantage, Solium can now offer these companies a powerful, cost effective alternative to managing their plans internally on spreadsheets. In today’s environment of rigorous disclosure and financial reporting requirements related to option plans, the ability to access a solution built off the capabilities of
Solium’s core proprietary technology will provide enhanced efficiency, data integrity and ultimately improved governance,” said Jeff English, Solium’s President and Chief Executive Officer.
“With the introduction of FAS123(R) in the US along with equivalent requirements under the CICA in Canada, even companies with modest stock plans face a large administrative and reporting burden. We are excited to be able to offer a software solution to CFOs of these smaller companies that will allow them to ease the management of their compensation plans while ensuring appropriate compliance.
StockVantage allows these individuals to greatly reduce the risks associated with items such as calculating and tracking the valuation and expense of stock based awards while ensuring they are able to easily and appropriately disclose this required information. This standardized solution utilizes the core functionality of the enterprise level Shareworks solution, ensuring the best in corporate governance for our customers,” said StockVantage Vice President, Sales & Marketing, Chris Groot.
To find out more about StockVantage, visit their website at www.stockvantage.com
About Solium Capital
Solium Capital Inc. (TSX: SUM) is a leading global provider of web-based stock plan administration technology and services. Solium’s integrated solutions help corporations automate and manage their stock option and stock purchase plans, including comprehensive regulatory and financial reporting. Founded in 1999, Solium Capital has offices in Canada and the United States.
About StockVantage Inc.
StockVantage Inc. is a wholly owned subsidiary of Solium Capital Inc. offering self serve administration and reporting software for stock-based compensation plans. StockVantage’s software allows small to mid-size companies to independently record keep their plans by offering comprehensive compliance, reporting and expensing capability.