15th Aug 2005 13:35
Canaccord Capital Inc. discloses significant shareholders' dealings Manulife Financial Corporation and Canaccord Chairman sell Canaccord shares for new incentive program VANCOUVER, Aug. 15 /CNW/ - Canaccord Capital Inc. (CCI: TSX & AIM)completed a block trade of shares on August 12, 2005, through the facilitiesof the Toronto Stock Exchange, to implement a new employee share incentiveprogram that was previously announced at the end of fiscal third quarter 2005.1,798,500 common shares were purchased at a price of C$9.50 per share. Thecommon shares were sold by existing long term shareholders to senior managersof the company. Canaccord's forgivable loan to senior managers to fund part ofthe purchase price is to be amortized and forgiven over four years in parallelwith the four year date restriction associated with the program, where onequarter of the holdings will be released at each anniversary of thetransaction. Canaccord employees and directors now own approximately 59.5% ofthe issued common shares of the company. To ensure a sufficient amount of shares would be available for the newincentive program, Canaccord requested certain shareholders to sell a portionof their shares. Manulife Financial Corporation, a significant shareholder ofthe company, sold 700,000 common shares in the company at a price of C$9.50per share on August 12, 2005. As a result, Manulife now holds 5,328,369 commonshares in the company, representing 11.56% of the issued common shares of thecompany. Peter M. Brown, Chairman & Chief Executive Officer of Canaccord CapitalInc., a director and significant shareholder of the company, sold 75,000common shares in the company at a price of C$9.50 per share on August 12,2005. As a result, Mr. Brown now holds 2,127,979 common shares in the company,representing 4.61% of the issued common shares of the company. ABOUT CANACCORD CAPITAL INC.: Canaccord Capital Inc. is a leading independent full service investmentdealer, publicly traded on both the Toronto Stock Exchange and the AlternativeInvestment Market, a market operated by the London Stock Exchange. Canaccordhas operations in two of the principal segments of the securities industry:Private Client Services and Global Capital Markets. Together, these operationsoffer a wide range of complementary investment products, brokerage servicesand investment banking services to Canaccord's retail, institutional andcorporate clients. Canaccord has approximately 1,300 employees worldwide in 28offices, this includes Investment Advisors located in 25 offices acrossCanada, and international Global Capital Markets professionals based inVancouver, Calgary, Toronto, Montrĩal and London (UK). For further information: Scott Davidson, Phone: (416) 869-3875, Email:scott_davidson(at)canaccord.com; London: Ben Willey, Buchanan Communications,Phone: +44 (0) 207 466 5000, Email: benw(at)buchanan.uk.com (CCI.) CO: Canaccord Capital Inc.ST: British ColumbiaIN: FINSU: TNM ENDCANACCORD CAPITAL INC.Related Shares:
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