CALGARY,
AB, Aug. 31, 2023 /CNW/ - Comprehensive
Healthcare Systems, Inc. (TSXV: CHS) ("CHS" or the
"Company") is pleased to announce that all matters submitted
to shareholders for approval as set out in detail in the Company's
management information circular (the "Circular") dated
August 1, 2023, were approved at the
annual and special meeting of shareholders of the Company held on
August 30, 2023 (the
"Meeting").
The resolutions at the Meeting consisted of the following: (1)
setting the number of directors at five; (2) election of all
director nominees, Chris Cosgrove,
Vikas Ranjan, Mariam Cather, Amit
Dutta, and Siddhartha Gautam Mohanty to the board of
directors of the Company; (3) appointment of McGovern Hurley LLP as
auditor of the Company for the ensuing year and authorizing the
directors to fix its remuneration; (4) disinterested shareholder
approval of a new 10% rolling equity incentive plan (as further
detailed below) (the "Incentive Plan"); and (5) the approval
of adoption of a new form of by-laws and repealing of the current
by-laws.
At the Meeting, 42,689,153 common shares in the capital of the
Company (the "Shares") were voted representing 34.42% of the
outstanding Shares of the Company. All resolutions received the
requisite shareholder approval.
The Incentive Plan will be effective August 30, 2023, replaces the Company's previous
stock option plan, and allows option holders to exercise options on
a "Cashless Exercise" or "Net Exercise" basis (as permitted by TSX
Venture Exchange Policy 4.4 - Security Based Compensation).
In addition, the Incentive Plan will provide for the flexibility to
grant equity-based incentive awards in the form of stock options,
restricted share units, and deferred share units. The aggregate
maximum number of Awards (as such term is defined in the Incentive
Plan) issuable under the plan to eligible recipients, may not
exceed 10% of the number of issued and outstanding Shares as at the
date of a grant.
The Incentive Plan remains subject to final approval from the
TSX Venture Exchange (the "TSXV") in accordance with the
policies of the TSXV. A copy of the Incentive Plan is attached as
Schedule "C" to the Circular, and available under the Company's
profile on SEDAR+.
Additional details of all matters approved at the Meeting are
set out in the Circular, and available under the Company's profile
on SEDAR+.
About Comprehensive Healthcare Systems Inc.
Comprehensive Healthcare Systems, Inc. is a corporation
incorporated under the laws of the Province of Alberta and is the parent company of
Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically
integrated software as a services (SaaS) company focused on
digitizing healthcare with Healthcare Benefits Administration
solutions, providing reliable and high-volume transaction capable
systems. The Company's state-of-the-art Novus 360 Healthcare
Welfare and Benefits Administration (HWBA) SaaS platform is used by
clients for all aspects of healthcare benefits administration
(including self-funded employers, providers, and labor unions),
providing healthcare administrative software and technology-enabled
services.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Comprehensive Healthcare Systems Inc.
