Business
Great Canadian Named Executives adopt automatic securities disposition and/or purchase plans
RICHMOND, BC , Sept. 30, 2014 /CNW/ - Great Canadian Gaming Corporation [TSX: GC] ...
About this update from Goldcana Resources Inc.
[{"type":"text","content":"\n\nRICHMOND, BC, Sept. 30, 2014 /CNW/ - Great Canadian Gaming Corporation [TSX: GC] (\"Great Canadian\" or \"the Company\") announced today that the following Named Executives, have each adopted automatic securities disposition and/or purchase plans (\"Automatic Plans\") in accordance with guidance under Ontario Securities Commissions' Staff Notice 55‐701 (the \"Guidance\"), and the Company's Insider trading policies. \n\nCanadian Securities Legislation permit 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. \n\nIn 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) an Automatic Plan should generally have a duration of at least 12 months; (iv) the Automatic Plan must contain meaningful restrictions on the ability of the Named Executive to modify or terminate the Automatic Plan; 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. \n\nDetails of the Named Executives' new Automatic Plans are set out in the following table. All of the intended trades include the exercise of stock options with an expiry date of February 10, 2015. \n\n\n\n\nNamed Executive\n\n\nTitle\n\n\nIntended Transactions\n\n\n% of Common Shares Intended to be Sold1,2\n\n\n% of the Value of Great Canadian Securities Intended to be Sold1,3\n\n\n\n\n\n\n\n\n\nRod Baker\n\n\nPresident & CEO\n\n\nExercise 500,000 ...