News Release: Options ProposedZimtu Capital grants options to buy 303,333 shares
2009-05-04 15:36 ET - Options Proposed
Mr. David Hodge reports
OPTION GRANT AND RE-PRICING
Zimtu Capital Corp. has granted a total of 303,333 incentive stock options to employees and consultants. Subject to the approval of the TSX Venture Exchange, each stock option is exercisable into one common share of the company at a price of 90 cents per share until May 1, 2014.
The company also announces the repricing of a total of 898,000 incentive stock options to reflect current market conditions, subject to the approval of the exchange. The options were originally granted in 2006 and 2007 at prices ranging from $1 to $1.50. The new exercise price for the options will be 90 cents per share. Insiders hold 200,000 of the options and disinterested shareholder approval for the repricing of those options is being sought at the company's annual general meeting, being held on May 28, 2009.