OTTAWA, ON, June 24, 2020 /CNW Telbec/ - Intouch
Insight Ltd. (the "Company") (TSXV:
INX) (OTCQB: INXSF) today announced that it has adopted a
new Restricted Share Unit Plan ("RSU Plan") and amended the
Company's Stock Option Plan (the "Option Plan").
At the Company's annual and special meeting of shareholders held
on June 19, 2020 (the "Meeting"), the
Company's disinterested shareholders approved resolutions to adopt
the new RSU Plan and an amendment to the existing Option Plan.
Under the new RSU Plan, restricted share units ("RSUs") may be
granted to directors and employees. The RSU Plan permits the
Company to either redeem RSUs for cash or issue common shares of
the Company from treasury to satisfy all or any portion of a vested
RSU award. Grants of RSUs vest 100% on the first anniversary of the
date of the grant. The maximum number of common shares of the
Company which are issuable upon the redemption of all RSUs under
the RSU Plan is 1,126,090 common shares of the Company.
The amended Option Plan increased the number of common shares of
the Company available under the Option Plan from 2,500,438 common
shares to 3,378,272 common shares.
Further details regarding the RSU Plan and the Option Plan are
included in the management proxy circular of the Company, which was
sent to shareholders and was filed on SEDAR in connection with the
Meeting.
Certain statements included in this news release contain
forward looking statements, which by their nature are necessarily
subject to risks and uncertainties and other factors that may cause
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such statements reflect the Company's current
views with respect to future events, and are based on information
currently available to the Company and on hypotheses which it
considers to be reasonable; however, management warns the reader
that hypotheses relative to future events which are beyond the
control of management could prove to be false, given that they are
subject to certain risks and uncertainties.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Intouch Insight Ltd.