Grant of stock options
MONTREAL, Sept. 10, 2013 /CNW Telbec/ - Sportscene Group inc, ("Sportscene" or "the Company"; "SPS.A / TSX Venture Exchange") announces that, under the Class A share purchase option plan ("the Plan") in effect at Sportscene, the Board of Directors approved the grant of 19,000 stock options to a director at an exercise price of $6.40 per share, all under the terms and conditions of the Plan. These options will be vested at a rate of 50% after two years, 25% after three years and the remaining 25% after four years. They will expire if they are not exercised within five years as of the grant date.
In business since 1984, Sportscene Group Inc. operates Quebec's leading chain of sports-themed resto-bars: La Cage aux Sports. As of today, this banner comprises 52 "Cages", 41 of which are wholly or jointly owned by the Company, and 11 are franchises. Enjoying a strong brand image, La Cage aux Sports' most distinctive feature is its "Sports, Gang, Fun" culture, showcased by an original decor, a festive ambience, the use of the latest telecommunications technologies and the hosting and organization of multiple contests and special events for its clientele. Sportscene also holds a 50% interest in three non-banner restaurants offering upscale foodservices in the Montreal area. In addition to its restaurant operations, the Company manages real estate holdings, including a sports complex and several buildings housing its restaurants. Furthermore, Sportscene has developed expertise in certain other complementary activities, such as the construction, fitting-out and renovation of Cages, technological development related to the expansion of the La Cage aux Sports network, as well as the organization of sports-related activities including international-calibre boxing events.
SOURCE Sportscene Group Inc.For further information:
Jean Bédard, Chairman of the Board, President and Chief Executive Officer
Josée Pépin, Vice-President, Finance