MCLEAN, Va., July 21, 2017 /PRNewswire/ -- WidePoint
Corporation (NYSE Mkt: WYY), a leading provider of Managed Mobility
Services (MMS) specializing in Cybersecurity and Telecommunications
Lifecycle Management (TLM) solutions, today announced that
WidePoint Corporation and Nokomis Capital, L.L.C. have entered into
an appointment and standstill agreement to further enhance the
Company's Board of Directors by appointing Alan Howe and Philip
Richter as Class II members of the Company's Board of
Directors and agreeing to nominate them for election at the
Company's 2017 Annual Meeting of Stockholders. The new directors
will serve also on the Board's Nominating & Corporate
Governance Committee and the Compensation Committee.
Steve Komar, Chairman of the
Board, said, "We appreciate and look forward to the continued
support that Nokomis Capital is offering the Company. We also
welcome Alan Howe and Philip Richter as members of our Board and we
look forward to having their expertise and insights to complement
our Board and benefit our stockholders."
Brett Hendrickson of Nokomis
Capital commented, "We are pleased we were able to reach an
agreement with WidePoint for the addition of Alan and Philip to the
Board. We firmly believe their addition in the boardroom will
further strengthen the Board and they will work constructively with
the other directors to enhance value for all WidePoint
shareholders."
Pursuant to the agreement, Nokomis, which owns approximately
15.4% of the Company's outstanding common stock, has agreed to vote
its shares in favor of the Board's recommendations regarding
director elections and other matters to be submitted to a vote at
the 2017 Annual Meeting of Stockholders. Nokomis has also agreed to
customary standstill commitments. The complete agreement will be
included as an exhibit to the Company's Current Report on Form 8-K
to be filed with the Securities and Exchange Commission.
About WidePoint
WidePoint is a leading provider of secure, cloud-delivered,
enterprise-wide information technology-based solutions that can
enable enterprises and agencies to deploy fully compliant IT
services in accordance with government mandated regulations and
advanced system requirements. WidePoint has several major
government and commercial contracts. For more information, visit
www.widepoint.com.
For More Information:
Brett Maas or David Fore
Hayden IR
(646) 536-7331
brett@haydenir.com
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SOURCE WidePoint Corporation