Mega View Digital Entertainment Corp. Announces Adoption of New Stock Option Plan
Toronto, Ontario--(Newsfile Corp. - October 29, 2013) - Mega View Digital Entertainment Corp. (TSXV: MVD.H) (the "Company") announces that it has adopted a new share incentive plan (the "Share Incentive Plan") to advance the interests of the Company through the motivation, attraction and retention of key employees and directors, and to secure for the Company and its shareholders the benefits inherent in their ownership of common shares. The Share Incentive Plan consists of a share option plan (the "Share Option Plan") and a share compensation plan (the "Share Compensation Plan"), which will be used to provide equity incentives for the benefit of eligible participants, including the directors, officers, employees and consultants of the Company from time to time. The maximum number of common shares of the Company ("Common Shares") issuable under the Share Option Plan, together with the Share Compensation Plan, shall not exceed 10% of the issued and outstanding Common Shares in the aggregate.
The Share Option Plan provides that incentive stock options ("Options") will be issued pursuant to Option agreements to directors, officers, employees or consultants of the Company. It replaces the existing stock option plan originally adopted by the Board on October 29, 2007. No Options granted under the previous stock option plan are currently outstanding. The maximum number of Common Shares available for issuance under the Share Option Plan is a ‘rolling' number equal to 10% of the issued and outstanding Common Shares on the particular date of grant, less (i) any Common Shares reserved for issuance under Options granted under compensation arrangements other than the Share Option Plan, and (ii) any Common Shares reserved for issuance under the Share Compensation Plan. All Options expire on a date not later than 10 years after the issuance of such Options, subject to extensions granted in connection with black-out periods.
The Share Compensation Plan permits Common Shares to be issued as a discretionary bonus, employment inducement or general compensation to eligible participants.
The adoption of the Share Incentive Plan was approved by the shareholders of the Company at the annual and special meeting of shareholders held October 28, 2013, and was previously approved by the NEX Board of the TSX Venture Exchange (the "TSX-V"). Pursuant to TSX-V policies, the Share Incentive Plan will require yearly shareholder approval at the Company's annual general meeting of shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information:
Mega View Digital Entertainment Corporation
Si Quan - Chief Executive Officer
CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.