INSTEP GRANTS STOCK OPTIONS
VANCOUVER, Aug. 28 /CNW/ - InStep Mobile Communications (VSE: ISB) today
announced that it has granted incentive stock options to new employees of the
Company to purchase up to 450,000 common shares at an exercise price of $0.75
per share exercisable for a period of five years pursuant to the terms and
conditions of the Company's Stock Option Plan. The options are subject to
vesting provisions.
In addition, at the Company's Annual and Extraordinary General Meeting of
the Members to be held on September 18, 1998 shareholders will be asked to
approve an amendment to the Company's Stock Option Plan to increase the number
of shares exercisable pursuant to stock options by 825,006 shares to an
aggregate of 2,575,006, rather than by 393,006 shares as previously disclosed
in the Company's Information Circular. The amendment to the resolution is due
to the issuance of shares which occurred subsequent to the mailing of the
meeting materials and which resulted in an increase in the Company's issued
and outstanding capital. The amended aggregate number of 2,575,006 shares
which are reserved for issuance under the Stock Option Plan reflect
approximately 20% of the Company's current issued and outstanding capital. At
the meeting, shareholders will also be asked to approve the exercise price of
the 450,000 employee options referred to above.
About eDispatch.com
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eDispatch.com, InStep's Wireless Internet Dispatch solution, offers a
breakthrough in realtime operations management: a simple way for
cost-conscious fleet users to receive the significant business benefits from
the powerful combination of computer automated dispatching, wireless data
communications and the Internet.
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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For further information: Nancy McLeod (604) 320-2100 or
nmcleod@instepmobile.com |
