Mr. Christopher Nutt reports
AUTOMODULAR CORPORATION: ADDITION TO BOARD OF DIRECTORS
Automodular Corp. has added Parsa Kiai to its board of directors. Mr. Kiai resides in New York and is the managing partner and portfolio manager of Steamboat Capital LLC. Automodular was approached earlier this year by Mr. Kiai and Bo Shan of California, founder and portfolio manager of Gobi Capital LLC. On a combined basis, Steamboat and Gobi hold 1,345,800 shares, representing approximately 6.9 per cent of the outstanding common shares of Automodular. In connection with Mr. Kiai joining the board, he and Mr. Shan as well as Steamboat and Gobi have entered into customary standstill arrangements expiring on the close of the company's 2015 annual meeting unless earlier terminated, including in the event that Mr. Kiai resigns from the board. Mr. Kiai brings to the board considerable United States investment experience and contacts.
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