CALGARY, Alberta--(BUSINESS WIRE)--AeroMechanical Services Ltd. (TSX-V: AMA) (the “Company” or “AMA”) todayannounced it has granted incentive stock options for 2,099,000 common shares,subject to regulatory approval, to employees, officers and directors under thestock option plan approved at the Annual and Special Meeting yesterday.
“We have approved the stock option plan as a tangible performance incentiveto people at several levels of the Company,” said Bill Tempany, Chairman and CEOof AMA. “We have set the exercise price of the options above the current tradingprice of our shares. For that reason we believe that the plan serves to fullyalign employees, officers, board members and investors in the pursuit ofshareholder value.”
The options provide for an exercise price of
.25 per share, which isapproximately 40% above the current trading price on the TSX Venture Exchange.They also feature immediate vesting and an expiration date of December 31, 2014.A maximum of 10% of the issued and outstanding shares are reserved under theCompany’s stock option plan. The options are subject to a four-month hold periodexpiring September 3, 2011.
Piper