Altima Energy Inc. (the "Company" or "Altima") the Company would like to announce the appointment of Mr. Ronald Hughes to the Board of Directors, taking the place of Jurgen Wolf, who has notified the Company of his desire to retire from active involvement. The Company wishes to graciously thank Mr. Wolf for his 19 years of service as director of the Company.
Mr. Hughes has more than 30 years of experience in business development and investment markets. In 1997, Mr. Hughes joined Global Securities as a Licensed Investment Advisor providing investment analysis, equity trading and capital structure strategy to corporate finance. In 2001, he began his executive roles, first as President of TransAmerican Energy Inc., and currently serves on the boards of publicly traded companies in the United States and Canada.
Altima welcomes Mr. Hughes on the Board of Directors. For clarification, the Company's Officers and Directors are currently comprised of the following:
Joe DeVries, Interim President and Chief Executive Officer, and Director
Richard Barnett, Secretary, Chief Financial Officer and Director
Stephen Watts, Director
Ronald Hughes, Director
Equity Compensation
The Company would also like to announce that the board of directors has awarded Restricted Share Units (the "RSUs") pursuant to its Omnibus Equity Compensation Plan that was ratified and approved by shareholders on August 26, 2024, of equity awards to certain eligible directors, officers and consultants for a total of 1,500,000 RSUs.
The effective grant date of the RSUs will be January 31, 2025. The RSUs shall become vested RSUs in approximately five equal quarterly installments beginning on April 30, 2025, in accordance with the following schedule:
10% at the end of the first quarter of the RSU Grant Date;
18% at the end of the second quarter of the RSU Grant Date;
18% at the end of the third quarter of the RSU Grant Date;
18% at the end of the fourth quarter of the RSU Grant Date; and
18% at the end of the fifth quarter of the RSU Grant Date.
