June 25, 2007 — (WEB HOST INDUSTRY REVIEW) — Internet infrastructure provider PEER 1 Network Enterprises (peer1.net) announced on Monday that the board of directors has approved the grant of 2,662,100 options to members of the executive management group (non-director officers) pursuant to the company’s long term incentive plan approved by the shareholders at PEER 1?s most recent annual general meeting.
The options can be purchased at $1.25 per share. They expire on June 20, 2012, with one-third on June 20, 2008 and the remaining two-thirds monthly in equal amounts over the 24 months ending June 20, 2010.
With this grant PEER 1 now has 9,597,004 options outstanding, representing approximately 8.27 percent of the company’s basic shares outstanding.
PEER 1 says it delivers Internet infrastructure solutions, including Internet network, colocation and dedicated hosting, helping to ensure customers are available online 100 percent of the time.
The company recently announced it was recognized as the ninth fastest-growing company in Canada and second in British Columbia in this week’s 19th annual PROFIT 100 ranking of Canada’s Fastest-Growing Companies by PROFIT Magazine.
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