SOURCE: JumpTV Inc.

January 24, 2008 11:11 ET

JumpTV's Directors' Issued Shares in Lieu of Cash Compensation

TORONTO--(Marketwire - January 24, 2008) - Jump TV Inc. ("JumpTV" or the "Company") (TSX: JTV) (AIM: JTV) announces that, on January 16, 2008, the following directors were issued common shares of no par value in the capital of the Company ("Common Shares") pursuant to JumpTV's Directors' Compensation Plan through which the non-executive directors receive at least 50 percent of their compensation in the form of shares.

James McNamara received 1,364 Common Shares; Mark Amin received 933 Common Shares; Curt Marvis and Lorne Abony each received 682 Common Shares; and Gary Slaight received 985 Common Shares. The price per share was CDN $2.18. Each of the directors holds less than 1% of the issued and outstanding shares of the Company.

In addition, during the period from May 31, 2006 to January 16, 2007 the Company issued 645,022 Common Shares to certain employees and consultants as they vested under JumpTV's restricted share unit plan ("RSUP"). Application has been made for the admission of all of the Common Shares noted above to trading on AIM. The shares will rank pari passu with existing Common Shares and it is expected that admission will occur on January 25, 2008.

Following admission of the new shares, the total issued share capital of the Company will be 49,275,796 Common Shares, excluding 1,840,097 shares held in escrow that are issuable based on the achievement of certain performance criteria.

In addition, there are a maximum of 156,516 Common Shares remaining that may be issued pursuant to the RSUP and the company has made a block admission application in relation to the same which is expected to be in place from 28 January 2008.

Contact Information

  • Enquiries:

    Lewis Goldberg
    KCSA Worldwide
    +1-212-896-1216
    Email Contact

    G. Scott Paterson
    Executive Chairman
    JumpTV Inc.
    +1-416-368-6464
    Email Contact

    Chris Bowman
    Andrew Chubb
    Canaccord Adams Limited
    +44 207 050 6500