- Kuuhubb (KUU) has provided an update in relation to the company’s stock option plan
- Shareholders had passed a resolution authorizing an amendment to the plan to increase the number of options potentially available for grant from 7,500,000 to 12,891,608
- In addition, the company has approved the grant of a total of 5,400,000 options under the plan to directors, management, employees and consultants
- Kuuhubb is a publicly listed mobile game development and publishing company, targeting the female audience with bespoke mobile experiences
- Kuuhubb Inc. was unchanged at $0.06 as at 11:48 AM ET
Kuuhubb (KUU) has provided an update in relation to its stock option plan.
At the Annual and Special Meeting of shareholders held on April 29, 2022, disinterested shareholders passed a resolution authorizing an amendment to the plan to increase the number of options potentially available for a grant from 7,500,000 to 12,891,608.
To ensure compliance with applicable policies of the TSXV, the directors of the company have additionally approved a number of minor administrative amendments so that the plan is now fully compliant.
In addition, the company has approved the grant of a total of 5,400,000 options under the plan to directors, management, employees and consultants.
All of these options are exercisable at $0.07, and are valid for three years from the date of grant.
The options vest immediately in the case of directors, management and two consultants (3,600,000 options), in four equal quarterly releases calculated from the date of grant in the case of one consultant (350,000 options), and in the case of twelve employees (1,450,000 options), one third on the first anniversary of grant and two-thirds on the second anniversary.
Kuuhubb is a publicly listed mobile game development and publishing company, targeting the female audience with bespoke mobile experiences.
Its mission is to become a top player in the mobile game space by exploring new lifestyle trends that can be converted into games and create long-lasting entertainment properties. Headquartered in Helsinki, Finland, Kuuhubb also has operations in Zug, Switzerland.
Kuuhubb Inc. was unchanged at $0.06 as at 11:48 AM ET.
