Press release from Marketwire
ENTREC Grants Restricted Shares
Tuesday, April 02, 2013
ENTREC Grants Restricted Shares08:00 EDT Tuesday, April 02, 2013
SPRUCE GROVE, ALBERTA--(Marketwired - April 2, 2013) - ENTREC Corporation (the "Corporation" or "ENTREC") (TSX VENTURE:ENT) advises that it has granted 222,900 restricted shares (the "Restricted Shares") to its employees and directors, pursuant to the terms of ENTREC's Restricted Share Plan, including 122,900 Restricted Shares granted to directors and officers of the Corporation.
Under ENTREC's Restricted Share Plan, key employees, directors and other key personnel are granted the right to receive an allotted number of common shares from treasury at a deemed value equal to the market price of ENTREC's common shares on the grant date. With the exception of the Restricted Shares granted to non-management directors of the Corporation, the Restricted Shares vest at 20% per year over 5 years commencing October 1, 2013. Restricted Shares granted to non-management directors of the Corporation will vest immediately prior to the Corporation's next annual general meeting. All Restricted Shares expire ten years from the date of grant.
ENTREC specializes in the lifting, transportation (over the road and on-site), loading, off-loading and setting of overweight and oversized cargo for the oil and natural gas, construction, petrochemical, mining and power generation industries. The common shares of ENTREC trade on the TSX Venture Exchange under the trading symbol "ENT".
FOR FURTHER INFORMATION PLEASE CONTACT:
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.Contact Information:
Chairman & CEO
John M. Stevens
President & COO