JTV Jumptv

RNS Number:6918F
JumpTV Inc.
15 October 2007



JumpTV Inc. ('JumpTV' or the 'Company') -- The Company Announces the Following
Changes to Its Outstanding Incentive Compensation Securities: Appointment of
Jordan Banks as Chief Executive Officer, Grant of Stock Appreciation Rights


TORONTO--(Marketwire - October 15, 2007) - On October 12, 2007, the Board of
Directors of JumpTV (AIM: JTV) (TSX: JTV) appointed Jordan Banks, a director of
the Company to the position of Chief Executive Officer, effective as of November
12, 2007.


G. Scott Paterson, current Chairman and Chief Executive, will become Executive
Chairman as of November 12, 2007.


In connection with the appointment of Mr. Banks as CEO, the Board granted to Mr.
Banks 1,325,000 stock appreciation rights (SARS) on October 12, 2007 with an
exercise price of US$3.00, a further 350,000 SARs to be issued on November 12,
2008 and the remaining 150,000 SARs to be issued on November 12, 2009 all of
which are granted as at October 12, 2007 (unless the Company is in a close
period on either of such latter two dates, in which case the SARs shall be
issued two business days after the close period ends, in each case the exercise
price being the market price as of the date of issue). The grant of such SARs is
subject to the receipt of all required stock exchange, regulatory and
shareholder approvals.


The SARs are exercisable for a period of up to 5 years from the date of
issuance. The SARs vest monthly on the basis of 1/48 per month for a period of
48 months.


Following the grant of the above SARs, the Company will have 22,840 shares
reserved for issuance pursuant to its stock appreciation rights plan.


Stock Options


A total of 225,000 options ('the Options') exercisable to acquire common shares
of the Company were granted on 12 October 2007 of which 100,000 were granted to
Mark Amin, a director, exercisable at $3 and 100,000 exercisable at $3.86 per
share and 12,500 were granted to Curt Marvis, a director, exercisable at $3 and
12,500 exercisable at $3.86 per share.

 $3.00     112,500
 $3.86     112,500
           -------
           225,000
           =======


The options are exercisable for a period of up to 5 years from the date of
grant. The Options vest monthly on the basis of 1/48 per month for a period of
48 months.


In addition, Mr. Kaleil Isaza Tuzman, President and COO, has agreed to modify
the consulting contract with his consulting company, KIT Capital Ltd., such that
previously granted unvested stock options and restricted shares will be subject
to accelerated vesting, such that a total of 769,063 previously unvested stock
options have now vested and are exercisable until December 31, 2008 and a total
of 142,210 previously unvested restricted share units have vested and are
issuable by the Company on January 8, 2008 or earlier in certain circumstances.


Re-pricing of stock options, SARs,


On October 12, 2007, subject to the receipt of all required stock exchange,
regulatory and shareholder approvals, the Board of Directors resolved to
re-price certain stock options and SARs previously granted to directors,
officers, employees and consultants with an exercise price of US$5.80 or more
whereby each such grantee may elect to (i) continue with the status quo with
respect to their stock options and/or SARs; or (ii) elect to forfeit 25% of
their current holdings of stock options and/or SARs, with any unvested stock
options and/or SARs being cancelled prior to any vested stock options and/or
SARs being cancelled, in exchange for 50% of their remaining stock options and/
or SARs being re-priced at $3 with any such stock options and/or SARs that have
currently vested being re-priced before any unvested stock options and/or SARs
being re-priced.


The following directors have elected to accept the re-price their stock options
and/or SARs, as the case may:

                      Stock options/    Stock options/
Name                  SARS forfeited    SARS remaining
----                  --------------    --------------
G. Scott Paterson     162,500           1,487,500
Kaleil Isaza Tuzman   100,000           1,195,000
Curt Marvis           10,000            130,000
Jordan Banks          25,000            75,000
Gary Slaight          25,000            75,000


The re-pricing of stock options and SARs is available to all staff of the
Company. At this time, the Company has not received responses from its staff in
this regard.


Following the grant of the above options and the forfeiture of the stock options
by the persons set out above, the Company will have 277,128 shares reserved for
issuance pursuant to its incentive stock option plan. 


Enquiries:

G. Scott Paterson
Chariman & CEO
JumpTV Inc.
+1-416-368-6464
Email Contact

Chris Bowman/Andrew Chubb
Canaccord Adams Limited
+44 207 050 6500

Enquiries:

G. Scott Paterson
Chariman & CEO
JumpTV Inc.
+1-416-368-6464
paterson@jumptv.com

Chris Bowman/Andrew Chubb
Canaccord Adams Limited
+44 207 050 6500


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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