Business
Solium Executives Adopt Automatic Securities Disposition Plan
CALGARY , Sept. 3, 2013 /CNW/ - Solium Capital Inc. ("Solium" or the "Company") (TSX: SU...
About this update from Summit Royalties Ltd
[{"type":"text","content":"\n\n\nCALGARY, Sept. 3, 2013 /CNW/ - Solium Capital Inc. (\"Solium\" or the\n \"Company\") (TSX: SUM) today announced that Brian Craig and Marcos\n Lopez, Managing Directors of Solium, have each adopted an automatic\n securities disposition plan (\"ASDP\") in accordance with applicable\n Canadian provincial securities legislation, including the guidance\n under Ontario Securities Commission's Staff Notice 55-701 (\"Canadian\n Legislation\").  Generally, Canadian Legislation permits an insider to\n adopt a written ASDP to sell shares through an independent broker in\n accordance with a pre-arranged set of instructions, regardless of any\n subsequent material non-public information the insider may receive, as\n long as the ASDP satisfies certain requirements. In accordance with\n Canadian Legislation, sales of shares under the ASDPs will be effected\n by independent securities brokers in accordance with the trading\n parameters and other instructions set out in the ASDPs.   Neither Mr.\n Craig nor Mr. Lopez will exercise any further discretion or influence\n over how dispositions will occur under his ASDP, and the broker\n administering his ASDP is not permitted to consult with him regarding\n any such dispositions. In addition, Messrs. Craig and Lopez are subject\n to restrictions on their ability to modify, suspend or terminate their\n participation in their respective ASDP.  In accordance with best\n practices, the ASDPs include a waiting period of 30 days between the\n date of adoption of the ASDP and the date that the first disposition\n can be made under the ASDP.\n\n\nThe objective of the ASDPs is to facilitate the sale of up to 600,000\n common shares of Solium held by Mr. Craig and up to 300,000 common\n shares of Solium held by Mr. Lopez on the open market over a period of\n up to two years at prevailing market prices and subject to minimum\n price thresholds specified in the ASDPs.  These shares represent\n approximately 16% of Mr. Craig's total current shareholdings in Solium\n and approximately 15% of Mr. Lopez's total current shareholdings in\n Solium.  Both Managing Directors wish to sell their shares in order to\n further diversify their respective portfolios.\n\n\nTransactions under the ASDPs will be reported on SEDI at www.sedi.ca in accordance with applicable Canadian secu...