11th Aug 2011 13:51
CANACCORD FINANCIAL INC. DISCLOSES DIRECTOR'S DEALINGS AND ISSUANCE OF SHARES
TORONTO, August 11, 2011 - Canaccord Financial Inc. ("CF" or the "Company") announces:
* the vesting of Restricted Share Units ("RSUs") that were acquired by Paul
Reynolds, a director of the Company, through the Long Term Incentive Plan
("LTIP") in lieu of cash compensation;
* the sale of shares by Paul Reynolds to cover tax obligations related to the
vesting of RSUs; and,
* the issuance of 224,255 shares.
On August 5, 2011 certain RSUs vested in respect of previous LTIP awards. Ofthe RSUs that vested on August 5, 2011, Paul Reynolds held 73,545. He willtherefore acquire 73,545 shares of the Company. Mr. Reynolds will receive62,651 shares from treasury and 10,894 by transfer from the employee benefittrust. On August 8, 9 and 10, 2011, Mr. Reynolds sold shares in the Company to covertax obligations related to the vesting of his RSUs. A total of 32,839 shareswere sold at an average price of $10.3168 per share. All shares were soldthrough the facilities of the Toronto Stock Exchange.
The LTIP is an initiative by Canaccord that was announced on June 7, 2007, and approved at the Company's annual general meeting on August 2, 2007.
For employees in the United States and the United Kingdom (principallyemployees of Canaccord Genuity Inc. and Canaccord Genuity Limited), the sharesto be issued on the vesting of the awards are issued from treasury. Therefore,in respect of the RSUs which have now vested, a total of 224,255 common sharesof the Company will be issued and an application has been made for theiradmission to AIM on August 15, 2011. Following the issue of these shares,Canaccord Financial Inc. will have 83,321,969 common shares in issue.
In summary, after the vesting of RSUs, the holdings related to Mr. Reynolds are as follows:
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Shares RSUs
Total common
owned RSUs vested and RSUs Shares Total Total shares as % (excluding held common held sold on common common of total CF RSUs) before shares after Aug. 8, shares + shares issued common prior to Aug. 5 acquired Aug. 5 9 and RSUs +
owned as shares (as of
Aug. 5 vesting on Aug. 5 vesting 10 options of
Aug. August 15,
11 2011). ------------------------------------------------------------------------------------------------Paul D. 906,952 278,213 73,545 204,668 32,839 1,269,644 947,658 1.14% Reynolds
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ABOUT CANACCORD FINANCIAL INC.:
Through its principal subsidiaries, Canaccord Financial Inc. is a leadingindependent, full-service financial services firm, with operations in twoprincipal segments of the securities industry: wealth management and globalcapital markets. Since its establishment in 1950, Canaccord has been driven byan unwavering commitment to building lasting client relationships. We achievethis by generating value for our individual, institutional and corporateclients through comprehensive investment solutions, brokerage services andinvestment banking services. Canaccord has 46 offices worldwide, including 32Wealth Management offices located across Canada. Canaccord Genuity, theinternational capital markets division, operates in the U.S., the U.K., Canada,China and Barbados. Canaccord Financial Inc. is publicly traded under the symbol CF on the TSX andthe symbol CF. on AIM, a market operated by the London Stock Exchange. Canaccord's Series A Preferred Shares are listed on the TSX under the symbolCF.PR.A.
FOR FURTHER INFORMATION CONTACT:
North America media:Scott DavidsonManaging Director, Global Head of Marketing & CommunicationsPhone: 416-869-3875, email: [email protected] investor relations inquiries contact:Jamie KokoskaManager, Investor Relations & CommunicationsPhone: 416-869-3891, email: [email protected] media:Bobby Morse or Ben RomneyBuchanan Communications (London)Phone: +44 (0) 207 466 5000, email: [email protected] Adviser and Joint Broker:Marc Milmo or Carl HolmesCharles Stanley SecuritiesPhone: +44 020 7149 6764, email: [email protected] Broker:Oliver Hearsey or Nick TriggsKeefe, Bruyette & Woods LimitedPhone: +44 (0) 20 7663 5400, email: [email protected]
(CF CF.)
XLONRelated Shares:
CF..L