Coloured Ties receives holder OK for share option plan
Coloured Ties receives holder OK for share option plan
2022-12-13 13:17 ET - News Release
Ms. Nancy Boufeas reports
COLOURED TIES CAPITAL INC. NEW SHARE OPTION PLAN AND AMENDED FIXED RESTRICTED SHARE UNIT PLAN RECEIVES SHAREHOLDER APPROVAL AT SEPTEMBER 23, 2022 ANNUAL GENERAL MEETING
Further to Coloured Ties Capital Inc.'s Aug. 19, 2022, news release, the company received shareholder approval at the company's Sept. 23, 2022, annual general meeting to the company's new form 10-per-cent rolling share option plan, dated for reference Aug. 18, 2022, and amended 10-per-cent fixed restricted share unit plan, dated for reference July 1, 2019, as amended on April 24, 2020, and as further amended on Aug. 18, 2022, as conditionally approved by the TSX Venture Exchange, to comply with the requirements of the new TSX Venture Exchange policy governing security-based compensation which became effective Nov. 24, 2021.
One of the provisions to the company's share option plan is allowing option holders to exercise options on a cashless exercise or net exercise basis, as now expressly permitted by new TSX Venture Exchange Policy 4.4 -- Security Based Compensation.
Shareholders also approved an increase of the maximum number of common shares under the fixed RSU plan by an additional 1,211,186 common shares, to a total maximum of 2,211,186 common shares.
Additional details regarding the share option plan and fixed RSU plan and the increases of maximum number of common shares are contained in the information circular filed on SEDAR under the company's SEDAR corporate website in respect of the Sept. 23, 2022, annual general meeting.
Complete copies of the share option plan and fixed RSU plan are available for viewing under the company's profile on SEDAR.
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