Peyto Exploration & Development Corp. Announces Amendments to Stock Option Plan and Amended and Restated By-Law No. 1
April 25 2019 - 4:49PM
Peyto Exploration & Development Corp.
("
Peyto") (TSX:PEY) advises that Peyto has altered
the amendment provision of its stock option plan to require
shareholder approval to expand the categories of individuals
contained in the definition of "Participants" who are eligible to
participate in the stock option plan. This amendment will be
included in the stock option plan of Peyto proposed to be
considered and voted upon by shareholders at the annual and special
meeting of Peyto shareholders to be held on May 9, 2019 (the
"
Meeting"). Peyto believes the stock option
plan, as amended, is in compliance with shareholder advisory firms'
most recent guidance with respect to such plans.
In addition, Peyto's board of directors has
approved a change to its Amended and Restated By-law No. 1 to
preclude the chairman from casting a second vote in the event of a
tie vote of the board of directors. The Amended and Restated By-law
No. 1, as amended, will be filed on SEDAR (www.sedar.com). The
Amended and Restated By-law No.1, as amended, is subject to the
approval of shareholders at the Meeting.
Darren GeePresident and Chief Executive Officer
Phone: (403) 237-8911 Fax: (403) 451-4100
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