UBS Modernizes Employee Stock Option Plan.TORONTO -- Changes reflect Current TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. Policies Unique Broadband Systems, Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System ) today announced that the Board of Directors of the Company has amended its Stock Option Plan. The amendments were made to align the Plan with TSX Venture Exchange policies and to be more consistent with typical plans of Tier 1 listed issuers. The changes do not affect the limits on the number of stock options that may be granted to individual optionees within a twelve-month period, nor the number of shares (19,765,396) reserved for issuance under the Company's Stock Option Plan. The most significant change is the deletion of certain cumulative limits on the aggregate number of shares that may be reserved for issuance, pursuant to stock options granted to individual optionees, and insiders as a group in favour of annual limits. UBS shareholders approved the Company's original Stock Option Plan on November 9th, 2000. That Plan was drafted to conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" the then applicable policies of the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) . Since that time, the TSX Venture Exchange (the successor to the Canadian Venture Exchange) has revised its policies regarding incentive stock options. The amendments to the Plan are subject to acceptance by the TSX Venture Exchange and shareholder approval, which will be sought at the Company's next annual meeting. About Unique Broadband Systems, Inc. UBS is a publicly listed Canadian company that has investments in broadband assets and a 51% equity investment in Look Communications LOOK TV is a digital cable, internet service and web hosting provider. Based in Montreal, Look was once linked to former crown corporation Teleglobe and Chinese ISP Inter Pacific Online. Founded in 1997, it has offices in Milton, Ontario and Montreal. Inc. With its licensed spectrum through Look, UBS is a Canadian digital television broadcaster and broadband wireless service provider. The Company's web sites may be found at www.uniquebroadband.com and www.look.ca. No stock exchange or regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of this release. Unique Broadband Systems Inc. (TSX VENTURE:UBS) |
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