05:44:36 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Great Canadian Gaming Corp
Symbol GC
Shares Issued 68,003,401
Close 2014-11-14 C$ 21.40
Market Cap C$ 1,455,272,781
Recent Sedar Documents

Great Cdn Gaming VP to acquire, sell 70,000 shares

2014-11-17 17:46 ET - News Release

Mr. Rod Baker reports

GREAT CANADIAN NAMED EXECUTIVE ADOPTS AUTOMATIC SECURITIES DISPOSITION AND/OR PURCHASE PLANS

The following executive of Great Canadian Gaming Corp. has adopted automatic securities disposition and/or purchase plans in accordance with guidance under Ontario Securities Commission's Staff Notice 55-701 and the company's insider trading policies.

Canadian securities legislation permits the named executive to adopt written automatic plans to sell, purchase or otherwise transfer shares in the future (including upon the exercise of stock options) according to the automatic plans on an automatic basis, regardless of any subsequent material non-public information he receives. Once the automatic plans are established, the named executive is not permitted to exercise any further discretion or influence over how dispositions or purchases will occur under the automatic plans.

In addition to meeting the requirements of the guidance, the company has in place additional measures that are designed to follow "best practices" related to such automatic plans. These measures include: (i) automatic plans may only be adopted by named executives during a trading window; (ii) a waiting period of 30 calendar days is required between the adoption of the automatic plans and the first disposition or purchase under the automatic plans; (iii) automatic plans should generally have a duration of at least 12 months; (iv) the automatic plans must contain meaningful restrictions on the ability of the named executive to modify or terminate the automatic plans; and (v) all named executives must use an independent broker to administer their automatic plans, meaning that the brokerage accounts established for that insider's automatic plans must be administered by a broker with no prior relationship with that insider.

Details of the named executive's new automatic plans are set out herein. Trades under these automatic plans are expected to occur between Dec. 17, 2014, and Dec. 17, 2015, subject to the price of Great Canadian's common shares meeting or exceeding predetermined prices and other conditions or restrictions being satisfied.

Named executive:  Robert G. Kroeker

Title:  Vice-president, corporate security and compliance

Intended transactions:  Exercise 70,000 options(4) and sell 70,000 common shares

Percentage of common shares intended to be sold(1)(2):  67 per cent

Percentage of the value of Great Canadian securities intended to be sold(1)(3):  6 per cent

Notes:

  1. Great Canadian securities for this calculation include stock options 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 Nov. 14, 2014, of $21.40. 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 is the company's closing share price as traded on the Toronto Stock Exchange;
  4. 50,000 options have an expiry date of Nov. 16, 2017, and 20,000 options have an expiry date of Jan. 21, 2018.

Other named executives of the company may from time to time adopt automatic plans during trading windows. The company will issue a press release to announce the adoption of any other automatic plans by its named executives.

We seek Safe Harbor.

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