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Message: 6,625,000 incentive stock options to 22 directors, officers and employees!

6,625,000 incentive stock options to 22 directors, officers and employees!

posted on Apr 24, 2010 02:33PM

This off the MAA website. Now doesn't this really dilute the share price? How will this benefit the Shareholder? Anyone have any comments please?

MagIndustries Corp. (“MagIndustries” or the “Company”) (TSX:MAA) announced today that pursuant to its stock option plan and subject to approval of the TSX, the Company has granted a total of 6,625,000 incentive stock options to 22 directors, officers and employees of the Company and its subsidiaries on April 17, 2010. These options vest in five equal installments over a period of 12 months commencing on the date of grant, have an exercise price of Cnd$0.50 per share, being a 14% premium to the closing price of the shares on the TSX on April 16th, 2010 of Cnd$0.44, and have a term of five years.

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