13:44:45 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Great Canadian Gaming Corp
Symbol GC
Shares Issued 67,811,029
Close 2014-08-18 C$ 19.28
Market Cap C$ 1,307,396,639
Recent Sedar Documents

Great Canadian insiders to exercise options

2014-08-19 07:04 ET - News Release

Mr. Rod Baker reports

GREAT CANADIAN GAMING INSIDERS INTEND TO TRADE IN THE COMPANY'S SECURITIES

The directors and a member of management shown in the table, who are considered insiders of Great Canadian Gaming Corp., have given notice that they intend to trade in the company's securities within the next 30 days. All of the intended trades include the exercise of stock options with an expiry date of Feb. 10, 2015. Subsequent to 2010, when these stock options were originally granted, the company's non-employee directors are no longer eligible to receive stock options related to their service on the board, but instead participate in a cash-settled deferred-share-unit program as a component of their compensation.

                                                                Per cent of
                                                               the value of
                                                Per cent of  Great Canadian
                                              common shares      securities
                                                   intended        intended
Insider                              Intended    to be sold      to be sold
name                   Title     transactions      (1), (2)        (1), (3)

                      Member  Exercise 30,000
                      of the      options (4)
                    board of  and sell 30,000
Thomas Gaffney     directors    common shares
                      Member  Exercise 45,000
                      of the      options (4)
                    board of  and sell 20,000            47              35 
Peter Meredith     directors    common shares            15              11 
                      Member  Exercise 30,000
                      of the      options (4)
                    board of  and sell 30,000
David Prupas       directors    common shares            40              29 
                       Vice-
                  president,
                      player  Exercise 17,940
                development,  options (4) and
                      casino     sell 260,000
                      player   commong shares
Walter Soo       development              (5)        44 (5)          52 (5)

  1. Great Canadian securities for this calculation include stock options, deferred share units and common shares.
  2. Calculated as the number of common shares intended for sale as a percentage of in-the-money Great Canadian securities held by the insider.
  3. Calculated as the intrinsic value of Great Canadian securities in the intended transactions as a percentage of the total intrinsic value of Great Canadian securities held by the insider. The intrinsic values in these estimates were based on the company's common share closing price on Aug. 18, 2014, of $19.28. The intrinsic value of a stock option is the positive difference between the company's common share closing price and the stock option's exercise price. The intrinsic value of a common share and a DSU is the company's closing share price as traded on the Toronto Stock Exchange.
  4. Stock options have an expiry date of Feb. 10, 2015.
  5. Joint accounts were recently created by Mr. Soo and his spouse for estate planning purposes. Prior to this, Mr. Soo and his spouse held separate individual accounts, which held 188,690 and 125,000 common shares of the company, respectively. The 260,000 common shares intended for sale consist of 135,000 commons shares from Mr. Soo and 125,000 common shares from Mrs. Soo. In addition, Mrs. Soo holds 91,139 common shares of the company in a registered retirement account, which Mr. Soo does not have control over but is included in the calculation of the per cent of common shares intended to be sold and per cent of the value of Great Canadian securities intended to be sold.

Subsequent to the exercise of these options by the non-employee directors, no company stock options will be held by any member of the board of directors. Any transactions completed by these insiders will be reported on the SEDI website within five days of their transactions.

The company has in place policies that are designed to provide transparency to the public about an insider's intention to trade in the company's securities. A cornerstone of that policy is a requirement that insiders give the company prior notice of any intention to trade Great Canadian securities so that the market may be alerted to that intention if the company believes that an insider is intending to trade a material quantity of the company's securities and/or a material portion of the value of such securities that are under the insider's control. Other insiders of the company may from time to time disclose their intentions to trade securities of the company.

We seek Safe Harbor.

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