Orosur's new incentive plan gets TSX approval

23rd Feb 2024 12:19

(Sharecast News) - Orosur Mining announced on Friday that it has received approval from the TSX-V for its new equity incentive plan, following shareholder endorsement at the annual and special meeting on 20 December.

The AIM-traded firm said the plan enabled the granting of stock options, restricted share units, and deferred share units to officers, directors, employees, and consultants of the company and its subsidiaries.

It said the equity incentive plan, replacing the previous stock option plan, aimed to minimise dilution to shareholders while enhancing fiscal efficiency for participants.

The maximum number of common shares that could be issued under the plan stood at 18,856,030, representing 10% of its issued and outstanding common shares as of 24 October 2023.

Additionally, the company said it had issued 75,000 shares following the exercise of 75,000 options by a former employee, each priced at five Canadian cents (3p).

At 1021 GMT, shares in Orosur Mining were up 1.96% at 2.6p.

Reporting by Josh White for Sharecast.com.