US grants proxy agreement to ST Engineering's subsidiary

iDirect Government Technologies appoints proxy board to enhance VT Systems' ability to continue bringing satellite-based IP communications.

ST Engineering's US subsidiary, iDirect Government Technologies, Inc. (iGT) is now operating under a US Government approved Proxy Agreement and has established a Proxy Board. With the Proxy Agreement, iGT may pursue classified government and military contracts. iGT is a wholly owned subsidiary of VT iDirect, Inc. and was set up in July 2007 to customise IP-based satellite networking solutions for adoption in the government market. Today, iGT brings bandwidth-efficient, scalable and highly secure satellite-based IP communications to the US Department of Defense (DoD) and civilian government agencies.

It has set up a Proxy Board comprising the following members:

MG Vincent E. Boles, USA, Ret., Proxy Board Chairman -- Boles has 33 years of service to the US in the areas of Army logistics, operations, and strategic planning and management. Most recently, Boles worked as the Army's Assistant, Deputy Chief of Staff for Logistics, where he was responsible for management and support of logistics operations worldwide for 1.1 million soldiers, including those serving in combat operations in Iraq and Afghanistan. Boles has also worked as a Commanding General and Chief of Ordnance for the Army. He received his Bachelor's Degree in history from Niagara University and an MBA from Babson College.

MG John G. Meyer, Jr., USA, Ret., Proxy Board Member -- Meyer's 33 years of distinguished service included assignments in Vietnam, Germany and a variety of posts in the US. In his last two assignments, he was the Chief Executive Officer of the Army's $1.3b international morale and recreation business encompassing the Army's quality of life programmes, and the Army's most senior Public Affairs Officer. In the latter capacity, Meyer effectively led and managed the strategic communications for worldwide external and internal audiences for the US Army. After retirement from the Army, he was the Chief Executive Officer and President of the Allied Defense Group, Inc. Allied Defense was a strategic international portfolio of defense and commercial security firms. Following this, he was the Chief Executive Officer of Heckler & Koch, an international manufacturer and distributor of small arms. Meyer is also a member of the Boards of Directors of several companies, according to an ST Engineering report.

LTG Robert T. Dail, USA, Ret., Proxy Board Member -- In November 2008, Dail retired from the Army after an illustrious 33-year career. At the time of his retirement, he worked as the 15th Director of the Defense Logistics Agency. Prior to DLA, Dail served as Deputy Commander for the US Transportation Command. In March 2009, he joined Supreme Group, Inc., a global logistics services company, where he currently serves as President, S upreme Group, USA. Dail is a member of the Board of Trustees for LMI Government Consulting, serves on the Board of Advisors for ADS Technology, Inc., and is an Advisor to National Security Associates Worldwide.

"VT Systems welcomes and is fortunate to have such highly qualified iGT board members. This new Proxy Board is a milestone for VT Systems and its parent company, ST Engineering. This new agreement will enhance VT Systems' ability to continue bringing highly secure satellite-based IP communications to our customers." ~ General John G. Coburn, USA, Ret., CEO and Chairman, VT Systems.

The setting up of iGT's new Proxy Board is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.