UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (Date of earliest event reported): May 5, 2008
CREATIVE
VISTAS, INC.
(Exact
name of Registrant as specified in its Charter)
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Arizona
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0-30585
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86-0464104
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(State
or other Jurisdiction)
of
Incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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2100
Forbes Street
Units
8-10
Whitby,
Ontario, Canada L1N 9T3
(Address
of principal executive offices)
Registrant’s
telephone number, including area code:
(905)
666-8676
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
□
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
□
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
□
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
□
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
Item
5.02
Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On
May
5
,
2008,
Creative Vistas, Inc. (the “Company”) announced the appointment of Dominic
Burns, President of the Company, to the additional position of Chief Executive
Officer. Mr. Burns’ appointment follows the resignation of Sayan Navaratnam from
the position of Chief Executive Officer, also effective May 5, 2008. Mr.
Navaratnam who had been both Chief Executive Officer and Chairman, will remain
as Chairman.
Mr.
Burns, age 48, has over 20 years of experience in the security integration
industry. Mr. Burns founded AC Technical Systems Ltd. in 1991, which later
became one of Creative Vistas’ core business units, and he has been president of
AC Technical since then. He has designed a number of internal technical and
marketing programs to expand AC Technical's sales and capabilities. Burns has
also served on Creative Vistas’ Board of Directors since September 2004. Mr.
Burns is a graduate of Northern Ireland’s Belfast College of Technology and also
holds radio and navigation licenses.
There
are
no arrangements between Mr. Burns and any other person pursuant to which Mr.
Burns was selected as Chief Executive Officer, nor are there any transactions
to
which the Company was or is a participant and in which Mr. Burns has a material
interest subject to disclosure under Item 404(a) of Regulation S-K.
Mr.
Burns
has no family relationship with any director or executive officer which would
otherwise be subject to disclosure under this Item 5.02.
Item 9.01
Financial
Statements and Exhibits.
The
following exhibits are filed with this Form 8-K:
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Exhibit
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Description
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99.1
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Press
Release dated May 5, 2008.
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has
duly
caused this Report to be signed on its behalf by the undersigned hereunto duly
authorized.
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CREATIVE
VISTAS, INC.
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Date:
May 9, 2008
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By:
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/s/ Heung
Hung Lee
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Heung
Hung Lee
Chief
Financial Officer and Secretary
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FOR
IMMEDIATE RELEASE
May
05,
2008
CREATIVE
VISTAS, INC. NAMES DOMINIC BURNS TO CEO POSITION
Sayan
Navaratnam Retains Role as Chairman
WHITBY,
Ontario and Los Angeles, CA — May 05, 2008—Creative Vistas, Inc. (OTCBB:CVAS), a
leading provider of broadband-related services and advanced video security
and
surveillance solutions, today announced that it has named Dominic Burns,
President of the Company, to the additional position of Chief Executive Officer.
Sayan Navaratnam, who had been both CEO and Chairman, will remain as Chairman.
Burns,
48, has over 20 years of experience in the security integration industry. In
1991 he founded AC Technical Systems Ltd., which later became one of Creative
Vistas’ core business units, and he has been president of AC Technical since
then. A graduate of Northern Ireland’s Belfast College of Technology,
Burns
also held a radio and navigation license.
He has
an extensive background in quality controls in the avionics industry and has
been a pioneer in transferring that industry’s high standards and controls to
the security integration market. He has designed a number of internal technical
and marketing programs to expand AC Technical's sales and capabilities. Burns
has also served on Creative Vistas’ Board of Directors since September
2004.
In
his
new position, Burns will oversee Creative Vistas’ three divisions -- AC
Technical, Cancable Inc., and Iview Digital Video Solutions Inc. Among other
responsibilities, he will direct Creative Vistas’ expansion into new markets,
particularly in the U.S., and will guide the long-term integration of the
Company’s business units as they develop new complementary product and service
packages.
“I
am
very pleased that Dominic is taking a wider role in this Company as its new
CEO,” said Mr. Navaratnam. “
He
comes
to this position with an impressive record of innovation, operational expertise
and high quality standards. Especially worth noting is his success in building
AC Technical into a leading provider of integrated video surveillance systems.
His technical and managerial skills made this achievement possible, and they
are
well suited to Creative Vistas’ current strategy of growth both geographically -
particularly in the U.S. - as well as through our product and service offerings
to residential and commercial customers,” said Mr. Navaratnam.
Burns
commented, “I am excited and gratified to be placed in this new position,
working closely with Sayan to oversee this fast-growing company. I know from
my
experience at AC Technical -- the historic core of Creative Vistas -- that
the
company already enjoys a strong reputation among high profile customers in
Canada. I see my mission as building on this base with new offerings in new
markets, but with no retreat from our commitment to quality, second-to-none
technology and reliability.”
Navaratnam,
33, joined AC Technical as CEO in 2003 and became Chairman and CEO of Creative
Vistas when the Company was organized in 2004. As Chairman and CVAS’ most
significant shareholder, he will continue to be responsible for managing the
overall vision and growth strategy of Creative Vistas and its subsidiaries.
If
you
would like to be added to Creative Vistas' investor email lists or have
additional questions, please contact Haris Tajyar with Investor Relations
International at
htajyar@irintl.com
or
sayan@creativevistasinc.com.
About
Creative Vistas
Creative
Vistas, Inc., is a leading provider of security-related technologies and
systems. It also provisions the deployment of broadband services. Operating
through its wholly-owned subsidiaries AC Technical Systems Ltd. and Iview
Digital Video Solutions Inc., it offers proprietary and non-proprietary
technologies to the integrated electronic security and surveillance market.
Its
systems are used by numerous high-profile clients including government, school
boards, retail outlets, banks and hospitals. Through its subsidiary Cancable
Inc., the Company provisions the deployment and servicing of broadband
technologies to the commercial and residential market. Creative Vistas is based
in Ontario, Canada.
Forward-Looking
Statements:
Statements about the Company's future expectations, including future revenues
and earnings, and all other statements in this press release other than
historical facts are "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act
of
1934, and as the term is defined in the Private Securities Litigation Reform
Act
of 1995. The Company's actual results could differ materially from expected
results for reasons described from time to time in the Company's public filings.
The Company undertakes no obligation to update forward-looking statements to
reflect subsequently occurring events.
Creative
Vistas, Inc.
Sayan
Navaratnam, 905-666-8676
sayan@creativevistasinc.com
Or
Investor
Relations
Investor
Relations International
Haris
Tajyar, 818-382-9700
htajyar@irintl.com