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Kobo Resources shareholders approve 10% rolling option plan
Kobo Resources shareholders approved an amendment to the long-term incentive plan, increasing potential share issuance to 10% of outstanding. The TSX Venture Exchange must still approve the change.
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Kobo Resources shareholders approved an amendment to the company's long-term incentive plan, increasing the maximum number of shares issuable under options from a fixed 7.3 million to a rolling 10% of outstanding shares. That works out to roughly 13.5 million shares based on current counts, the company said. The change still needs a green light from the TSX Venture Exchange.
Shareholders also elected seven directors: Edouard Gosselin, Paul Sarjeant, Frank Ricciuti, Patrick Gagnon, Jeff Hussey, Brian Scott and Vivek Dharni. MNP LLP was reappointed as the company's auditor for the coming year.