23:07:08 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Great Canadian Gaming Corp
Symbol GC
Shares Issued 60,698,106
Close 2016-07-06 C$ 18.28
Market Cap C$ 1,109,561,378
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Great Cdn officers adopt automatic trade plans

2016-07-06 18:42 ET - News Release

Mr. Rod Baker reports

GREAT CANADIAN GAMING 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 55-701 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.

Details of the named executives' automatic plans are set out in the attached table. The intended trades include the exercise of stock options, which were granted on March 19, 2012, with an exercise price of $7.67 per common share. With less than one year remaining on these five-year-term stock options, the named executives intend to exercise these stock options under automatic plans by their expiry date of March 19, 2017.

Named executive                                       Title                 Intended transactions 
                                                                        
Rod Baker             President and chief executive officer           Exercise 400,000 options (1)
                                                                   and sell 400,000 common shares
Terrance Doyle                      Chief operating officer            Exercise 45,000 options (1)
                                                                    and sell 45,000 common shares 
Victor Poleschuk          Executive vice-president, Ontario            Exercise 60,000 options (1)
                                 operations and development         and sell 60,000 common shares
Walter Soo                 Executive vice-president, player            Exercise 38,000 options (1)
                                     and gaming development         and sell 38,000 common shares

(1) Stock options have an expiry date of March 19, 2017, with an exercise price of $7.67.

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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