Shareholders of OceanaGold Corporation (TSX & ASX: OGC) and the bourses of Australia and Canada were last night given details of some proposals for the company’s annual general meeting, set for June 1.
The company said that to continue to align itself with leading governance practices, OceanaGold proposes to present an amended performance rights plan to reduce the maximum number of securities to be issued or reserved for issuance under the plan 5% of the issued and outstanding common shares to 3.3%.
The shareholders' resolution to approve the amendment to the performance rights plan will be presented from the floor at the June 1 annual general meeting.
“The performance rights plan is the only active equity compensation plan for employees of the company. There are no other changes to the performance rights plan.
OceanaGold said that as of the date of this announcement, an aggregate of 617,464,893 common shares were issued and outstanding. A total of 649,503 options remained outstanding under the option plan, 7,795,095 performance rights remained outstanding under the performance rights plan, while there were no options outstanding under the Pacific Rim Incentive Stock Option Plan.
The company also said 1,016,098 options remained outstanding under the Romarco Replacement Stock Option Plan. Together, they represent about 1.58% of issued and outstanding common shares on a non-diluted basis.
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