DEQ increases its stock option repricing exercise price
Apr 27, 2011, 10:39 ET
MONTREAL, April 27 /PRNewswire/ - DEQ Systems Corp. (TSXV: DEQ) ("DEQ" or the "Company"), a leading provider of table game bonusing, jackpot and loyalty solutions, announces today that it has modified its project disclosed on April 8, 2011 to reprice 4,385,000 stock options of the Company from $0.35 to $0.42, subject to regulatory and disinterested shareholders' approval.
All the information regarding the initial repricing of stock options is available in the Management Proxy Solicitation Circular dated April 7, 2011 that is available on SEDAR at www.sedar.com or on DEQ's website in the Invest/Corporate Information section. A total of 3,935,000 stock options with an exercise price between $0.46 and $1.45 per share, with expiry dates between 2014, and 2019, will be repriced at an exercise price of $0.42.
Earle G. Hall, President and CEO of DEQ reports: "The market reaction to the acceleration in our product placement has prompted the Board of Directors to increase the exercise price of the repricing to $0.42 to ensure that DEQ demonstrates the proper respect for our shareholders."
In accordance with TSX Venture Exchange policies, the repricing of any options held by officers and directors of a company is subject to disinterested shareholders' approval. Accordingly, disinterested shareholders of the company will be asked to approve the repricing of 3,225,000 stock options held by officers and directors as well as the 710,000 stock options held by employees at DEQ's annual and special meeting scheduled on May 11, 2011.
ABOUT DEQ
DEQ Systems Corp. (TSXV: DEQ) is a global provider of gaming technology in over 30 countries. Protected by more than 20 patents in 50 countries, DEQ specializes in progressive and random bonusing systems for table games. DEQ's innovation and ingenuity has been to replace the single dollar coin slot and sensor with its internationally award winning G3™ technology. The G3 incorporates multiple credit betting, dealer hand betting and mystery bonusing. DEQ also commercializes technology and patents including the award winning baccarat revolution, EZ Baccarat™ and related auxiliary products such as EZ Trak™. DEQ is and will continue to lead innovation in the table game bonusing segment of the global gaming market. For further information, please visit www.deq.com
TSX Venture does not accept any responsibility regarding the accuracy of the information contained in this press release.
Forward-looking statements contained in this Press Release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
SOURCE DEQ SYSTEMS CORP.