Tickers: XTSX:DE, XTSX:DE.P
Tags: #Finance
January 30, 2020 - TheNewswire - Kelowna, British Columbia - Decisive Dividend Corporation (TSXV:DE) ("Decisive" or the "Corporation") announces that it has amended and restated its employee share purchase plan ("ESPP") to enable eligible employees to hold common shares ("Shares") of Decisive in tax-free savings accounts (TFSAs).
The purpose of the ESPP is to advance the interests of the Corporation and its subsidiaries by facilitating and encouraging employees to purchase Shares and accordingly, have a direct interest in the Corporation's success. Since its introduction in 2016, the ESPP has been received positively by employees of the Corporation and its subsidiaries. In 2019 the overall ESPP participation rate was 46%, which the Corporation understands is considerably higher than manufacturing industry averages.
The maximum number of Shares permitted to be issued under its amended and restated ESPP (the "Amended ESPP") and its equity incentive plan (the "Equity Incentive Plan") which was approved at the annual general meeting of shareholders held on July 24, 2019, a copy of which is available on Decisive's corporate profile on the System for Electronic Document Analysis and Retrieval (SEDAR), are as follows:
(i)with respect to the Amended ESPP, 50,000 Shares of which 15,739 have been issued to date;
(ii)with respect to awards of restricted share units ("RSUs") and/or deferred share units ("DSUs") under the Equity Incentive Plan, a fixed number of 175,000 Shares (subject to increase with the approval of the TSXV and requisite approval of Shareholders in accordance with the policies of the TSXV), of which there are currently 56,321 Shares underlying outstanding restricted share units on the date hereof; and
(iii)with respect to incentive stock options under the Equity Incentive Plan, that number of Shares equal to 10% of the issued and outstanding Shares from time to time, less the fixed number of Shares underlying outstanding DSUs and RSUs, and Shares reserved for issuance under the Amended ESPP or any other securities based compensation at such time. There are currently 882,500 incentive stock options outstanding.
About Decisive Dividend Corporation
Decisive Dividend Corporation is an acquisition-oriented company, focusing on the manufacturing sector. The Corporation uses a disciplined acquisition strategy to identify already profitable, established companies that have strong management teams, generate steady cash flow, operate in non-cyclical markets, and have opportunity for future growth.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rick Torriero, Chief Financial Officer
#201, 1674 Bertram Street
Kelowna, BC V1Y 9G4
Telephone: (250) 870-9146
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release.
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