TORONTO, ONTARIO--(Marketwire - Sept. 26, 2012) - TransGaming Inc. (TSX VENTURE:TNG) (the "Company") today announced that yesterday the Board of Directors approved the repricing of certain outstanding stock options held by employees. Subject to the approval of the TSX Venture Exchange, outstanding stock options for the purchase of an aggregate of 1,643,500 common shares of the Company having exercise prices of $0.475 (issued January 11, 2012) and $0.82 per share (issued May 17, 2011) have been repriced to the exercise price of $0.21 per share. The repriced options will maintain their current expiry dates and vesting periods.
"TransGaming is an intellectual property based company and the employees are our greatest assets. The share price is beyond our employees' control so this repricing of options for employees is an important gesture to demonstrate our commitment to the employee base and to ensure they are appropriately incented for their hard work and dedication to the company," commented Vikas Gupta, CEO & President of TransGaming.
The options held by officers and directors of TransGaming were not subject to this repricing and remain at their original exercise prices.
About TransGaming Inc.,
TransGaming Inc. (TSX VENTURE:TNG) is the global leader in the multiplatform deployment of interactive entertainment. TransGaming works with the industry's leading developers and publishers to enable and distribute games for Smart TVs, next-generation set-top boxes, Mac computers, and Linux/CE platforms. TransGaming is headquartered in Toronto, Canada.
Neither 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.