TORONTO, May 12, 2020 (GLOBE NEWSWIRE) -- Jamieson Wellness Inc. (“Jamieson Wellness” or the “Company”) (TSX:JWEL) today announced that its Board of Directors (the “Board”) has approved certain amendments to the Company’s long-term incentive plan (the “LTIP”) and employee share purchase plan (the “ESPP”, and together with the LTIP, the “Plans”), having considered suggestions from Institutional Shareholder Services to make certain changes to the Plans that are consistent with the Company’s current policies and historical practices.
The LTIP amendments (i) confirm the limit on the value of annual grants of awards issuable to each non-employee member of the Board under the LTIP and any other share-based compensation arrangement adopted by the Company; (ii) restrict the ability of the Company to make certain amendments to the LTIP or the terms of any awards or award agreements thereunder without shareholder approval; and (iii) require that in exercising its discretion to redeem any performance share unit upon a Change in Control (as defined in the LTIP), the Board consider, among other factors, the level of achievement towards the performance goals applicable to such performance share unit prior to the Change in Control. The amendments to the ESPP restrict the Company’s ability to alter the allowable purchase price discount under the ESPP without shareholder approval.
An amended and restated LTIP and an amended and restated ESPP have been filed under the Company’s profile on SEDAR at www.sedar.com.
About Jamieson Wellness
Jamieson Wellness is dedicated to improving the world's health and wellness with its portfolio of innovative natural health brands. Established in 1922, Jamieson is the Company's heritage brand and Canada's #1 consumer health brand. Jamieson Wellness manufactures and markets sports nutrition products and specialty supplements under its Progressive, Precision and Iron Vegan brands. The Company also markets Smart Solutions by Lorna Vanderhaeghe, the #1 women's natural health focused brand in Canada. For more information please visit jamiesonwellness.com.
Jamieson Wellness’ head office is located at 1 Adelaide Street East Suite 2200, Toronto, Ontario, Canada.
Contact Information:
Jamieson Wellness
Ruth Winker
416-960-0052
rwinker@jamiesonlabs.com
