The details in respect to the amendment and the amended and restated share option plan are set out in the Company's management information circular pertaining to the Meeting, which is available for public viewing on the Internet.
In joining the Board of Directors, Dickson Hall will receive an option to acquire 732,500 common shares at an exercise price of $1.40 per share vesting over a four-year period and expiring in 2012. Also, as for all of the Company's non-executive directors, Dickson Hall will receive an annual fee of $25,000 for his services.
Finally, the Board of Directors reconstituted its standing board committees, all of which are comprised of independent directors.
The Audit Committee is comprised of Dickson Hall, Larry Campbell and John Reynolds; the Governance and Nominating Committee is comprised of Larry Campbell,Dickson Hall and John Reynolds; and the Compensation Committee is comprised of Dickson Hall,Larry Campbell and John Reynolds.
The Board of Directors also reconstituted the Disclosure Committee, which is comprised of three officers, Hon Cheung (Stephen) So, the Chief Financial Officer,Ping Chen, the Chief Executive Officer and Mingjie (John) Yuan, the Vice President and Corporate Secretary.
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