Chatham Rock Phosphate Ltd. has approved an amendment to the company’s stock option plan which allows stock options to be granted with a term of up to 10 years, as permitted by TSX Venture Exchange policies.
Prior to the amendment of the stock option plan, the company was restricted to granting options with a maximum term of five years. The stock option plan amendment is subject to ratification by shareholders at the 2020 annual general meeting. Although the company may grant options with terms of up to 10 years prior to shareholder ratification, in the event shareholders do not ratify the amendment, any such options will be deemed to have been amended to reduce the term to five years from the date of grant.
