MONTREAL, Oct. 5, 2023
/CNW/ - Reitmans (Canada) Limited
("Reitmans" or the "Company") (TSXV: RET) (TSXV:
RET.A) today announces that it has granted an aggregate
of 359,869 options to purchase Class A non-voting
shares of the Company (the "Options") to members of its
management team pursuant to its second amended and restated share
option plan dated April 19, 2021.
The grant of Options was made as follows: an aggregate of 32,000
Options were granted on August 3,
2023 with an exercise price of $3.04 and which Options will expire on
May 26, 2025; and 327,869 Options
were granted on September 5, 2023
with an exercise price of $3.05 and
which Options will expire on October 5,
2027. All Options are subject exclusively to time-based
vesting terms. The grant of the Options is made pursuant to the
Company's Long-Term Incentive Plan which is designed to incentivize
members of management in the achievement of long-term financial
targets.
About Reitmans (Canada) Limited
The Company is a leading women's specialty apparel retailer with
retail outlets throughout Canada. As at October 5, 2023
the Company operated 402 stores consisting of 232 Reitmans, 90
Penningtons and 80 RW&CO.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Reitmans (Canada)
Limited