I was in touch with Wayne Stebbe this week and found out from him that the change in the length of time for stock options being proposed for the AGM is not something that Wildcat came up with on their own. It is only reflecting the terms that the TSX has set out for stock options. Here is an excerpt of their rules on stock options:

2.8 Terms of the Plan

The following must be included in all incentive stock option plans:

(a) a condition that the option is non-assignable and non-transferable;

(b) options can be exercisable for a maximum of ten years from the date of grant;

(c) a condition that no more than 5% of the issued shares of the Issuer may be granted to any one individual in any 12 month period (unless the Issuer has obtained shareholder approval);

etc., etc.

The TSX made changes to its policies in December 2008, and the proposed changes are taking those TSX policy changes into account. Perhaps this may add a little clarification on this point.

NL