CALGARY, Nov. 25 /CNW/ - Decision Dynamics Technology Ltd. (the "Company") (Decision Dynamics; TSX-V: DDY), a leading provider of project cost control and productivity management software for the energy industry, today announced that it has cancelled 1,347,268 employee stock options. In addition, the Company has amended the exercise price of 325,000 employee stock options previously issued, from $0.04 to $0.10. The amended employee stock options are held by two officers of the Company.
The Company also announced today that it has received board approval to proceed with a shares for service application pursuant to the requirements of the TSXV Policy 4.3. Subject to acceptance of the application by the TSXV, the shares for service proposal will enable the Company to issue an aggregate of 973,133 shares of the Company to its employees, who are not officers or directors of the Company, over a period of three years. The first tranche of shares issued, assuming the application is approved by the TSXV, will allow the Company to issue 324,388 shares to employees in Q4 2009 at a deemed price of $0.06 per share. The remaining 648,745 shares would be issued to employees in Q4 2010 and Q4 2011, at the deemed market price on those future dates.
About Decision Dynamics Technology Ltd.
Decision Dynamics Technology Ltd. is a leading provider of project cost control and productivity management software for the energy industry, including major electrical power companies.
Its product, Oncore(TM), is a project cost management solution that provides high volume, real-time capture of field labor, equipment, and material cost information, contract validation and approvals for operations management and capital projects. Oncore(TM) unifies the project data, information, and knowledge needed for complete project visibility thereby enabling better faster project management decisions. Decision Dynamics is a Microsoft Gold Certified Partner. The Company's head office is located in Calgary, Alberta, Canada. It operates a wholly-owned foreign subsidiary in the United States.
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.
SOURCE DECISION DYNAMICS TECHNOLOGY LTD.
For further information: For further information: Justin Zinke, Chief Executive Officer, Decision Dynamics Technology Ltd., (403) 451-0731; Kim Tremblay, Chief Financial Officer, Decision Dynamics Technology Ltd., (403) 451-0726