DEQ Announces Repricing of Stock Options
08 Aprile 2011 - 10:01PM
PR Newswire (Canada)
LEVIS, QC, April 8 /CNW/ -- LEVIS, QC, April 8 /CNW Telbec/ - DEQ
Systems Corp. ("DEQ" or the "Company") (TSXV: DEQ), a leading
provider of table game bonusing, jackpot and loyalty solutions,
announces today that it plans to reprice 4,385,000 stock options of
the Company, subject to regulatory and disinterested shareholders'
approval. These options having exercise prices between $0.38
and $1.45 per share with expiry dates between 2014 and 2019 will be
repriced at an exercise price of $0.35, which represents a premium
of 25% on the average share price of the last twelve months of
$0.28. The repricing represents a dilutive net effect of
approximately 2.3% using a price of $1.00 per share. In accordance
with TSX Venture Exchange policies, the repricing of any options
held by officers and directors of a company is subject to
disinterested shareholder approval. Accordingly, disinterested
shareholders of the Company will be asked to approve the repricing
of 3,675,000 stock options held by officers and directors as well
as the 710,000 stock options held by employees at DEQ's annual and
special meeting scheduled on May 11, 2011. Earle G. Hall, President
and CEO of DEQ informs, "In 2008, the Board of Directors
compensation package was reduced by more than $100,000 and
directors have since been compensated mainly with stock options for
their work. It is important to note that all directors must be
licensed in every jurisdiction and this is tedious and hard work on
a regular basis. As well, as part of the cost cutting measures for
the company, DEQ's management team agreed to salary reductions and
the restructuring of all departments of the company to save more
than $500,000 in annual operating costs. The goal of the stock
option repricing for the management team is to compensate them for
these reductions and salary freezes. DEQ has a very strong
management team and this gesture is to ensure they participate in
the future success of DEQ. Our goal is to ensure their retention
and continued mobilization as DEQ grows rapidly in the near and
long term with very restricted resources." ABOUT DEQ DEQ Systems
Corp. (TSXV: DEQ) is a global provider of gaming technology in over
30 countries. Protected by more than 20 patents in 50 countries,
DEQ specializes in progressive and random bonusing systems for
table games. DEQ's innovation and ingenuity has been to replace the
single dollar coin slot and sensor with its internationally award
winning G3™ technology. The G3 incorporates multiple credit
betting, dealer hand betting and mystery bonusing. DEQ also
commercializes technology and patents including the award winning
baccarat revolution, EZ Baccarat™ and related auxiliary products
such as EZ Trak™. DEQ is and will continue to lead innovation in
the table game bonusing segment of the global gaming market. For
further information, please visit www.deq.com. TSX Venture does not
accept any responsibility regarding the accuracy of the information
contained in this press release. Forward-looking statements
contained in this Press Release involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance and achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the said forward-looking statements.
To view this news release in HTML formatting, please use the
following URL:
http://www.cnw.ca/en/releases/archive/April2011/08/c2731.html table
tr valign="top" td align="left" Earle G. Hallbr/ President &
CEObr/ DEQ Systems Corp.br/ p. (418) 839-3012br/ e. a
href="mailto:earle.hall@deq.com" cr="true"earle.hall@deq.com/a /td
td align="right" /td td align="left" Francois Proulxbr/
Chief Financial Officerbr/ DEQ Systems Corp.br/ p. (418)
839-3012br/ e. a href="mailto:francois.proulx@deq.com"
cr="true"francois.proulx@deq.com/a /td /tr /table
Copyright
Grafico Azioni DEQ Systems Corp. (TSXV:DEQ)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni DEQ Systems Corp. (TSXV:DEQ)
Storico
Da Lug 2023 a Lug 2024
Notizie in Tempo Reale relative a (Venture Exchange Canada (TSXV)): 0 articoli recenti
Più Deq Systems Corp Articoli Notizie