"The purpose of the DSU Plan is to provide directors of the Corporation with the opportunity to acquire DSUs in order to allow them to participate in the long-term success of the Corporation"
because they couldn't participate earlier? with the options and restricted shares? and the annual salary they're being paid?
and this really sticks in my craw:
" and to promote a greater alignment of their interests with the interests of shareholders."
so they weren't in alignment before? and they are 100% aligned now? or they were only 65% aligned before and are maybe now 80% aligned now, or maybe 100% aligend now!? why call out a cash grab as promoting greater alignment?
my bad, i dont think its 5% dilution, its 10%!?!? so if you dilute 10% annually, within 5 or 6 years we can double the float just so that the board can participate in the success for which they're already being paid/rewarded? can't imagine that Easter or Dart or Hepa
Cilcular:
In addition: (i) the number of Common Shares issuable to Insiders (as defined in the TSX Company Manual), at any time, under all security based compensation arrangements, may not exceed 10% of the issued and outstanding Common Shares;and (ii) the number of Common Shares issued to Insiders (as defined in the TSX Company Manual), within any one year period, under all security based compensation arrangements, may not exceed 10% of the issued and outstanding Common Shares.
ME - makes it hard to put a firm valuation, or maybe now i just take whatever number is bantered around and dilute it for those people who are NOW, FINALLY, closer to alignment with me, a simple shareholder!
Circular:
There are currently 105,426,757 issued and outstanding Common Shares in the capital of the
CCorporation. Therefore, currently a maximum of 10,542,676 Common Shares may be reserved and allocated under the Option Plan, the LTIP and other securities based compensation arrangements. This number will increase if and as the issued and outstanding share capital of the Corporation increases.
Me - so we have a new DSU, The option plan (2) and the LTIP (3) and "other securities based compensation agreements (4). Is that 4 ways to reward the board now that their interests are aligned with ours!?
