Zurich, Switzerland, June 25, 2015 (GLOBE NEWSWIRE) -- WISeKey today announced that on June 24, 2015, its shareholders unanimously approved all Ordinary General Assembly agenda items, following an opening presentation delivered by the Company's Chairman, Carlos Moreira. The Company and the Board of Directors received undivided support for their work from the Company's shareholders.
Shareholders were asked to vote and approve the following items of the Agenda:
- Annual report and statutory financial statements for the fiscal year ended December 31, 2014.
- Proposal to list WISeKey's stock on the Swiss Stock Market in Q3 2015.
- Expansion to the USA, with offices to be inaugurated in Maryland at the World Trade Center Baltimore in Q3 2015
The General Assembly approved the Company's Annual Report and statutory financial statements for the fiscal year ended December 31, 2014. The Company's auditors, BDO presented the Auditor's Report for the fiscal period which has been previously made available to the shareholders. The Annual Report, statutory financial statements, and appropriations were approved unanimously by the shares present and/or represented at the meeting. Motions to re-elect the auditors and to discharge the Board of Directors and Executive Management's Liabilities for the period were also approved by the majority of the shares present and/or represented.
While presenting WISeKey's major businesses areas, WISeKey's CEO, Carlos Moreira emphasized the progress WISeKey made in 2015 as a leading Cyber Security company and informed the meeting about the new contracts the company has secured since the U.S. Patent and Trademark Office granted a new patent to WISeKey (#40430104). This patent, formally titled "Method and apparatus for digital authentication of valuable goods," covers an invention relating to the use of strong digital identification authentication provided by WISeKey together with OISTE.ORG, which allows objects on the Internet to be authenticated and monitored in real-time via trusted clouds.
WISeKey's patented technology is already proven in Switzerland with more than three years of experience in the luxury industry, with the digital brand protection solution "WISeAuthentic" being implemented by several prestigious watch makers. With the latest evolutions, this technology also applies to product and object segments as diverse as connected watches (like the WIS.WATCH launched by WISeKey this year at Davos www.wis.watch), smartphones, locks, smart meters, cars, alarm systems, robotics, semiconductors, industrial sensors and household appliances. In the near future, the secure connection of all these to the internet, which will enable intercommunication and autonomous machine-to-machine (M2M) data transfer, will be vital for our society.
With the Internet of Things (IoT) invading the digital ecosystem this year, it's not hard to see how these "things" require strong authentication as trillions of connected devices will soon be deployed in all sectors of the industry, including the Industrial Internet. The patented technology used by WISeKey anticipates the interconnection of constrained devices in the physical world to prevent leakage of personal information by means of peer authentication and secure data transmission.
This patented technology opens up tremendous possibilities and industry leadership for WISeKey in terms of certifying, connecting, and insuring objects and storing the ensuing data in a secure, trusted cloud environment. We are now on the threshold of a fourth phase in the evolution of the Internet, what is called the Embedded Internet, a network space where billions of intelligent embedded devices will be connected.
Many countries are already working on what we call Industry 4 which is the next stage of industrial manufacturing and a paradigm shift toward smart factories which could be the advent of a fourth industrial revolution. So are we in fact on the verge of a fourth revolution with $14.4 Trillion of value at stake for companies and industries worldwide.
A full description link to patent is available at http://goo.gl/ozgOQm
Mr. Moreira presided over the meeting of shareholders, outlining WISeKey's overall vision of the Trusted Internet and taking questions from those in attendance. Following his presentation, Mr. Moreira was joined by COO, Dourgam Kummer and CFO, Peter Ward, and also Thomas Bieri, CEO of Axcit Capital, the financial advisor to the Company; the team outlined the advantages of a possible listing of WISeKey on the Swiss Stock Market, to be considered by the Company and its shareholders during Q3 this year.
The formal business of the meeting was uneventful with uncontested approval of the three company-sponsored proposals. It demonstrates how WISeKey has continued to diversify its CyberSecurity products and services with the activation of new business units and a very strong move to IoT CyberSecurity.
The meeting concluded with closing remarks from the Chairman describing his objective to bring WISeKey to the USA with offices to be inaugurated in Maryland at the World Trade Center Baltimore in Q3 2015. This in combination with a reinforcement of the Board of Directors of the Company will allow WISeKey to expand its reach and assist local authorities to fight cybercrime which costs globally over $400 billion per year and at the same time, expand the size of the Company as defense against cyberattacks is becoming a very big industry. Gartner estimates cybersecurity spending topped $71 billion last year; FBR Capital Markets predicts a global 20% increase in spending in 2015; and this year's spending, in turn, could double to more than $155 billion as per Gartner.
"I hope to continue working with all of you in expanding our company and I trust that you share our excitement about the future of an enterprise whose unique past is propelling us into an enormously promising future," concluded Mr. Moreira.
WISeKey is a leading information security and identity management company, and provides specialized security technologies for data protection, and effective identification and authentication of people and objects without compromising trust. Headquartered in Geneva Switzerland, WISeKey has regional subsidiaries around the world.
For more information visit https://www.wisekey.com
WISeKey General Assembly Votes http://hugin.info/157632/R/1931503/694686.pdf
CONTACT: WISeKey Carlos Moreira Founder & CEO +41 22 594 3000 firstname.lastname@example.org Investor Relations Counsel The Equity Group Inc. Lena Cati Vice President 212-836-9611 email@example.com Devin Sullivan Senior Vice President 212-836-9608 firstname.lastname@example.org www.theequitygroup.com Acxit Capital Partners Thomas Bieri Managing Partner +41 44 389 80 01 email@example.com www.acxit.com