WINNIPEG, MB, May 11, 2020 – Ag Growth International Inc. (TSX: AFN) ("AGI" or the "Company") announces that it has approved an amendment to its Equity Incentive Award Plan (the "Plan") to increase the aggregate number of common shares available to be issued pursuant to the Plan by 550,000 common shares rather than the 695,000 common share increase proposed in AGI's management proxy circular (the "Circular") for its forthcoming annual and special meeting of shareholders (the "AGM"). The reduced increase from that set forth in the Circular has been adopted to address certain recommendations made by Institutional Shareholder Services ("ISS") in the course of its review of the matters to be voted on at the AGM. The amendment to the Plan will be voted upon at the AGM to be held at 2:00 p.m. EDT on May 19, 2020.
As discussed in the Circular, the Plan is a key component of executive compensation and is important in assisting AGI in retaining and attracting qualified executives and other key employees, promoting a proprietary interest in the Company by such persons and encouraging them to put forth maximum efforts for the success of our business, and focussing management on operating and financial performance and the growth and profitability of the Company.
AGI encourages shareholders to vote FOR the resolution approving the amendment to the Plan.
The full text of the Plan, as amended, is available on the Company's website at www.aggrowth.com.
AGI is a leading provider of equipment solutions for agriculture bulk commodities including seed, fertilizer, grain, feed and food processing systems. AGI has manufacturing facilities in Canada, the United States, the United Kingdom, Brazil, France, Italy and India and distributes its product globally.
Further information can be found in the disclosure documents filed by AGI with the securities regulatory authorities, available at www.sedar.com and on AGI's website, www.aggrowth.com.
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