GLG Life Tech Corporation

GLG Life Tech Corporation

June 05, 2008 17:35 ET

GLG Life Tech Corporation Announces Changes to the Amended Stock Option Plan Being Presented to Shareholders at Its Annual and Special Meeting of Shareholders

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2008) - GLG Life Tech Corporation ("GLG" or the "Company") (TSX:GLG) will be having its annual and special meeting of shareholders on June 17, 2008 (the "Meeting"). In connection with the Meeting, the Company has mailed to shareholders, among other things, a Notice of Meeting, a form of Proxy and an Information Circular dated May 16, 2008 (collectively, the "Meeting Materials").

The special business before the Meeting relates to the consideration by shareholders of the Company's proposed amended and restated stock option and restricted share plan (the "Amended Plan") and of certain awards being proposed thereunder.

Based on feedback received by the Company to date, the Board of Directors of the Company has determined that it is in the interests of the Company to make certain changes to the Amended Plan in order to reduce the number of common shares available for issue under the Amended Plan from 15% of the issued and outstanding shares (as was set out in the Meeting Materials) to 10% of the issued and outstanding common shares.

The changes referred to above will result in fewer common shares available for issue under the Amended Plan and will (i) reduce the size of the proposed grants to insiders of the Company to 1,239,362 compensation securities (as compared to 4,562,000 compensation securities which had been proposed in the Information Circular) and (ii) reduce the size of the proposed grants to non-insiders of the Company to 66,927 compensation securities (as compared to 246,253 compensation securities). The full text of the proposed amendments to these grants is available on the Company's website

At the Meeting, the Company will be proposing amendments to the resolutions being submitted to shareholders to reflect the changes referred to above. The full text of the resolutions, as amended, has been posted on the Company's website and will be mailed to shareholders in advance of the Meeting.

About GLG Life Tech Corporation

GLG Life Tech Corporation specializes in growing, refining, and producing high grade stevia extract, a natural, zero-calorie sweetener. With fully integrated stevia operations, GLG is the leading supplier of high quality stevia production in China. The Corporation is also engaged in the distribution of nutritional products in China and holds exclusive agreements with Weider Global Nutrition and Shandong Yong He Tang Health Products Chain Stores Ltd., whose franchise network includes over 1,400 locations. Please visit for further information.

Forward-looking statements: Certain statements in this press release constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements evaluating the market and general economic conditions and discussing future-oriented costs, expenditures and other financial or operating performances. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or words and phrases that state or indicate that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. While the Company has based these forward-looking statements on its current expectations about future events, the statements are not guarantees of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors include amongst others the effects of general economic conditions, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations, industry supply levels, competitive pricing pressures and misjudgments in the course of preparing forward-looking statements. Please refer to the heading "Risk Factors" in our Annual Information Form in respect of our year-ended December 31, 2007 and the risk factors in our Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2007 for a discussion of these and other factors underlying forward-looking statement, both of which are available on SEDAR at under the Company's names. In light of these factors, the forward-looking events discussed in this press release might not occur. Further, although the Company has attempted to identify factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. As there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, readers should not place undue reliance on forward-looking statements.

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