NamSys Announces Updates to its Stock Option Plan
May 21, 2025 6:23 PM EDT | Source: Namsys Inc.
Toronto, Ontario--(Newsfile Corp. - May 21, 2025) - NamSys Inc. (TSXV: CTZ) (the "Company"), a leading provider of technology for cash processing and transportation, today announces that its board of directors has approved certain amendments to the Company's 10% fixed stock option plan (the "Amended Option Plan"). The Amended Option Plan amends and restates the Company's previously existing stock option plan in order to comply with the provisions of the TSX Venture Exchange ("TSXV") Policy 4.4 - Security Based Compensation. The aggregate number of common shares of the Company reserved for issuance under the Amended Option Plan is a fixed number of 2,500,000 common shares.
Under the Amended Option Plan:
The number of common shares reserved for issuance to insiders of the Company under all options cannot exceed 10% of the Company's issued and outstanding shares (on a non-diluted basis), and within any 12-month period, insiders may not be granted options exceeding 10% of the Company's issued and outstanding common shares.
No individual may be granted options exceeding 5% of the Company's issued and outstanding common shares in any 12-month period.
No consultant may be granted options exceeding 2% of the Company's issued and outstanding common shares in any 12-month period.
Persons engaged to provide investor relations activities may not, collectively, be granted options exceeding 2% of the Company's issued and outstanding common shares in any 12-month period.
The Amended Option Plan is subject to final approval by the TSXV.
NamSys Inc. products are designed to bring efficiency to the processing of currency and other value instruments in retailers, financial institutions, and cash-in-transit providers. NamSys' proprietary systems for this market are sold as software-as-a-service subscriptions and operate in the public cloud service providers.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This Media Release may contain forward-looking statements, which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ from those projected herein and depend on a number of factors including the success of the Corporation's sales strategies.
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