Argyle Security Announces Departure of Sam Youngblood as Director
SAN ANTONIO, March 30, 2015 /PRNewswire/ -- Argyle Security, Inc. (OTC Pink Sheets: ARGL.PK) ("Argyle" or the "Company"), a service and solutions provider in the physical detention and electronic security industry, announced today that, effective April 1, 2015, Mr. Sam Youngblood will resign his position as a Director on the Board of Directors of the Company. Mr. Youngblood notified the Board that he was stepping down to spend more time and attention on his personal business interests.
Mr. Youngblood was the founder and owner of ISI Detention in 1992 until its sale to Argyle in 2007. He served in a number of management roles until his retirement in 2013. His term as a Director is to run until Argyle's shareholder meeting in 2016. Until a successor is appointed, the position will remain vacant.
Commenting on the departure, Buddy Johns, President and CEO stated, "We want to thank Sam for all of his time and service to Argyle. He has provided counsel and advice to me and the management team as we have executed Argyle's new business plan under my leadership. We wish him luck in his future endeavors."
Robert M. Davies, Chairman of the Board and Managing Partner of MML Capital Partners, said "On behalf of the Board of Directors and MML, we want to thank Sam for his many years of service to Argyle. Sam grew up in the security industry and has encyclopedic knowledge of the detention security business which has been valuable to our Board and for Argyle since he retired as our Chief Executive Officer two years ago. We wish him luck in his future endeavors."
Argyle also announced that it will begin a search for a qualified individual who can fill the vacancy left by Mr. Youngblood's departure.
About Argyle:
Based in San Antonio, TX, Argyle Security is a provider of services and solutions in the physical detention and electronic security industry. Argyle is one of the nation's largest providers of security hardware products and service solutions, as well as a leading provider of turnkey, electronic security and fire detection systems for use in detention, commercial, governmental and educational facilities. Please visit www.argylesecurity.com for additional information.
Safe Harbor
Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. When used in this press release, words such as "will," "believe," "expect," "anticipate," "encouraged," "foresees," "forecasts," "estimates" and similar expressions, as they relate to the company or its management, as well as assumptions made by and information currently available to the Company's management identify forward-looking statements. The forward-looking statements are subject to risks and uncertainties, including the possibility that legal proceedings that may be instituted against the Company and/or others relating to the changes in the board composition, the effect of the announcement of these board changes on the Company's customer relationships, operating results and business generally, the risk that these board changes disrupt current plans and operations and the potential difficulties in employee relations resulting therefrom, and downturns in economic conditions generally, the Company's business or the state of the corporate credit markets. Consider these factors carefully in evaluating the forward-looking statements. The risk factors listed in the Company's annual and quarterly reports also provide examples of risks, uncertainties and events that could cause actual results to differ materially from those contained in forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements and is not responsible for changes made to this press release for Internet or wire services.
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SOURCE Argyle Security, Inc.
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