Callinan Royalties Corporation CCNMF

RE: RE: The Proxy

[btshooter]

mineshack:

The management of every Venture exchange listed company, can set options up to 10% of the capitalization issued by that company, with out shareholder approval other than the #5."Stock Option Plan" contained in every annual general meeting shareholder vote for management.

CAA's management, in repricing the $2.94 options set last year, to the $1.00 price this year, thought they would give the shareholders a vote on the repricing.

There is no requirement under exchange rules for shareholder approval for setting or changing the option pricing other than the blanket coverage under #5 "Stock Option Plan" that is normally solicited in the Notice Of Annual General Meeting and approved at the Company's AGM.

So the approval to change the pricing of options was given to the management at the last AGM, they could have just changed the options but decided to ask for our approval at this AGM.

Hope that answers your question, good luck, bt.





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