RE: Got Circular and Proxy yesterday - PHOENIXoo1There's DSUs and RSUs (???) and then of course options.
The DSU Plan can be amended at the sole descretion of the Board at any time. What does that mean?
The max no of common shares that may be reserved for issuance to insiders pursuant to the Option Plan and issuable to insiders under the Option Plan WITHIN ANY ONE YEAR PERIOD is 10% of common shares outstanding, less any shares issued and outstanding under the DSU.
Does that statement mean that as options are exercised that there is a top up provision for more options. This could be a potential fountain of wealth which goes against the normal TSX rule of maximum 10% options relative to outstanding shares, wherein the total number eligible options can only increase as the number of outstanding shares increase (i.e. a one time max 10% rule).
The continuance is just changing from an Alberta to Cdn Corporation. Lots of verbage to say so.
Don't forget pages 22 and 23.