Goldiger,
Sophie may have told you that there are only a total of 4.5 million options, but the wording of the the proxy material sure doesn't make that clear to me. Maybe it's true, maybe it's not. Here again, for those wishing a Sleep-Eze substitute, is the language:
2. To approve, with or without amendment, an ordinary resolution
approving, ratifying and confirming resolutions of the director's passed
at meetings held on February 10,1997 and June 11,1997, respectively,
granting incentive stock options to certain insiders of the company, to
purchase up to 2,200,000 shares of the Company at a price of $1.62 per
share, exercisable at any time up to February 5,2002, all as more fully
set forth in the accompanying Information Circular of the Company dated
as at August 6,1997 and to approve, ratify and confirm the actions of
the directors in executing agreements pertaining thereto by and on
behalf of the company.
3. To approve, with or without amendment, an ordinary resolution
whereunder the company allocate and reserve its common shares from time
to time for the purpose of granting options under an Employee Incentive
Stock Option Plan, subject to a maximum of 4,500,000 shares being under
option.
INSIDERS TO WHOM SHARES MAY BE ISSUED UNDER THE PLAN, AND THEIR
RESPECTIVE ASSOCIATES AND AFFILIATES, WILL ABSTAIN FROM VOTING ON THE
FOREGOING TRANSACTION. THE APPROVAL OF A MAJORITY OF DISINTERESTED
MEMBERS OF THE COMPANY IS THEREFORE SOUGHT.
***END**
Is it 2.2 plus 4.5? Or is it 2.2 plus a max. of 2.3 more? If 2.3 more, why didn't they say so to make it clear?
BTW, is Sophie still hopeful and optimistic? What happens if the weather this year is warm and the ice doesn't get thick enough for the drill rigs? Is there a Plan "B"? |
