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USA Technologies Announces Results Of Annual Meeting Of Shareholders

USA Technologies, Inc. (NASDAQ: USAT), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, today announced the results of its Annual Meeting of Shareholders, held earlier today in Salt Lake City, Utah.

At the meeting:

  • all USA Technologies’ directors (Deborah G. Arnold, Steven D. Barnhart, Joel Brooks, Stephen P. Herbert, Albin F. Moschner, Frank A. Petito III, Jack E. Price, William J. Reilly, Jr., and William J. Schoch) were re-elected for an annual term;
  • USA Technologies’ 2013 Stock Incentive Plan was approved;
  • USA Technologies’ advisory vote on named executive officer compensation was approved, and shareholders voted on an advisory basis to hold such advisory vote every one year; and,
  • the appointment of McGladrey LLP as the independent registered public accounting firm of USA Technologies for fiscal year ending June 30, 2013 was ratified.

In addition, USA Technologies’ Chairman and Chief Executive Officer, Stephen P. Herbert, provided an overview of USAT’s progress against its key growth platforms—accelerating adoption within its existing base of over 4,500 customers; expanded distribution and sales reach, including its new relationship with Betson Enterprises that targets the coin-operated amusement and gaming market; expansion into other vertical markets, such as USAT’s recent announcement with Setomatic Systems; and, new consumer engagement services designed to enable customers to leverage the benefits of loyalty and other services to differentiate their brand. Interested parties may view the slide presentation on the investor relations section of USA Technologies’ website, under Events and Presentations.

About USA Technologies:

USA Technologies is a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries. ePort Connect® is the company’s flagship service platform, a PCI-compliant, end-to-end suite of cashless payment and telemetry services specially tailored to fit the needs of small ticket, self-service retailing industries. USA Technologies also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G8, ePort Mobile™ for customers on the go, and QuickConnect™, an API Web service for developers. USA Technologies has been granted 85 patents; and has agreements with Verizon, Visa, Elavon and customers such as Compass, Crane, AMI Entertainment and others. Visit the website at www.usatech.com.

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