20:57:34 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Great Canadian Gaming Corp
Symbol GC
Shares Issued 66,368,020
Close 2015-11-06 C$ 16.53
Market Cap C$ 1,097,063,371
Recent Sedar Documents

Great Cdn executives adopt automatic plans

2015-11-06 23:12 ET - News Release

Mr. Rod Baker reports

GREAT CANADIAN NAMED EXECUTIVES ADOPT AUTOMATIC SECURITIES DISPOSITION AND/OR PURCHASE PLANS

The following named executives of Great Canadian Gaming Corp. have each adopted automatic securities disposition and/or purchase plans in accordance with guidance under Ontario Securities Commission staff Notice 55701 and the company's insider trading policies.

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

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 plan and the first disposition or purchase under the automatic plan; (iii) the automatic plan must contain meaningful restrictions on the ability of the named executive to modify or terminate the automatic plan; and (iv) 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.

For planning reasons associated with the possible changes to the tax treatment of stock options, the following named executive officers intend to sell sufficient shares acquired from exercising the following stock options to finance the payment of the exercise price and all related taxes. The named executive officers have indicated that they will hold the balance of the shares for an extended period of time and in the case of the president and chief executive officer, the chief financial officer, and the chief operating officer, that commitment period would be a minimum of three years. For the remaining named executives, that period would be a minimum of the otherwise remaining duration of the options exercised, which is primarily between one to two years.

The attached table summarizes the intended transactions.

                         INTENDED TRANSACTIONS OF EXECUTIVES 
                  
                 Named executive title                                   Intended transactions    

Rod Baker        President and CEO                                       Exercise 800,000 options
Kiran Rao        CFO                                                     Exercise 115,000 options
Terrance Doyle   COO                                                     Exercise 90,000 options 
Peter Goudron    Executive vice-president, strategic resources           Exercise 125,000 options
Victor Poleschuk Executive vice-president, east operations               Exercise 125,000 options
Walter Soo       Executive vice-president, player and gaming development Exercise 119,000 options
James McGrogan   Vice-president, business development                    Exercise 30,000 options 

Stock options have expiry dates ranging from Jan. 11, 2016, to Jan. 2, 2018, with exercise 
prices of $7.14 to $9.11.

Trades under these automatic plans are subject to the price of Great Canadian's common shares meeting or exceeding predetermined prices and other conditions or restrictions being satisfied.

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.

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