WINNIPEG, Manitoba, Aug. 29, 2018 (GLOBE NEWSWIRE) -- People Corporation (TSX-V: PEO) (the “Company”) has granted options to certain senior executives of the company to acquire a total of 2.6 million common shares of the Company on August 28, 2018. The options were granted in accordance with the Company’s Security Based Compensation Plan (“the Plan”) to reward the senior executives for individual and corporate performance, to align their interests with that of the Company and to provide for long-term incentives. The grant of 2.6 million options is a one-time grant to these senior executives with no further option grants to them anticipated for the next 4 to 5 years.
Except in certain circumstances, all of the options are subject to cliff vesting on the third anniversary of the issuance. Of the 2.6 million options granted, 60% or 1.56 million are performance conditioned options, with a requirement for the Company’s share price to reach a threshold of $12 in order for these options to vest. The remaining 40% or 1.04 million are regular options. All of the options have an exercise price of $7.93 per share, have a term of 5 years and otherwise are subject to the terms of the Plan.
About People Corporation
People Corporation is a national provider of group benefits, group retirement and human resource services. The Company has offices across Canada; each led by a team of experts and backed by the resources of a national company that is traded on the TSX-V. The Company's industry experts provide uniquely valuable insight while customizing an innovative suite of services to the specific needs of its clients. Whatever your sector, whatever your scale, putting People Corporation's expertise and proven track record to work will make a difference to your people and your bottom line. Further information is available at www.peoplecorporation.com.
Forward-Looking Information
This news release contains “forward-looking statements” within the meaning of applicable securities laws, such as statements concerning future events, results, circumstances, performance or expectations that are not historical facts. Use of words such as “may”, “will”, “expect”, “believe”, "intends", "likely", or other words of similar effect may indicate a “forward-looking” statement. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in the Company's publicly filed documents (available on SEDAR at www.sedar.com). Those risks and uncertainties include the performance of the business acquired pursuant to the Transaction, the ability to maintain profitability and manage organic or acquisition growth, reliance on information systems and technology, reputation risk, dependence on key clients, reliance on key professionals and general economic conditions. Many of these risks and uncertainties can affect the Company's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statement made by the Company or on its behalf. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements in this news release are qualified by these cautionary statements. These statements are made as of the date of this news release and, except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities.
Investor Relations Inquiries:
Contact - Dennis Stewner, CPA, CA
CFO and COO - People Corporation
(204) 940-3988
dennis.stewner@peoplecorporation.com
www.peoplecorporation.com
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