CF Energy Announces the Adoption of the 2020 Employee Stock Award Plan
December 08 2020 - 8:30AM
CF Energy Corp., (TSX-V: CFY) (“CF Energy” or the “Company”)
announced today that the Company has adopted the 2020 Employee
Stock Award Plan (the “Plan”) which is intended to encourage share
ownership by and the retention of employees of the Company.
The Plan was previously conditionally approved
by the TSXV, subject to receipt of disinterested shareholder
approval. Subsequently, at the Company’s annual meeting of
shareholders held on October 29, 2020 (the “Meeting”), the Plan
received the approval of a majority of the votes cast by the
shareholders of the Company (excluding votes attaching to common
shares beneficially owned by insiders of the Company).
Under the terms of the Plan, 6,546,315 common
shares will be reserved for issuance. The maximum number of common
shares issuable to insiders thereunder within any one-year period,
or issuable to insiders at any time, under all of the Company’s
security-based compensation arrangements is limited to 10% of the
number of then issued and outstanding common shares. The total
number of common shares which may be reserved for issuance to any
one individual under the Plan within any one-year period will not
exceed 5% of the issued and outstanding common shares.
A copy of the Plan was appended to the Company’s
management information circular dated September 25, 2020 in
connection with the Meeting, and is available on the Company’s
profile on SEDAR at www.sedar.com.
About CF Energy Corp.
(Formerly “Changfeng Energy Inc.”)
CF Energy Corp. is a Canadian public company
currently traded on the Toronto Venture Exchange under the stock
symbol “CFY”. It is an integrated energy provider and natural gas
distribution company (or natural gas utility) in the PRC. CF Energy
strives to combine leading clean energy technology with natural gas
usage to provide sustainable energy to its customer base in the
PRC.
Contact Information
Corporate Investment Relations
Investor.relations@changfengenergy.cn
Charles Wang Executive Assistant to CEO &
Chair of the Board Zhaoyu.wang@changfengenergy.cn
Frederick Wong Director of the Board
fred.wong@changfengenergy.cn
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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