TIDMCF. TIDMINVP TIDMEVG
RNS Number : 3297N
Canaccord Financial Inc.
31 August 2011
PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER
Rules 8.1 and 8.2 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Identity of the party to the offer making the Canaccord Financial Inc.
disclosure:
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(b) Owner or controller of interests and short
positions disclosed, if different from 1(a): The
naming of nominee or vehicle companies is
insufficient
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(c) Name of offeror/offeree in relation to whose Canaccord Financial Inc.
relevant securities this form relates: Use a
separate form for each party to the offer
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(d) Is the party to the offer making the OFFEROR
disclosure the offeror or the offeree?
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(e) Date position held: August 30, 2011
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(f) Has the party previously disclosed, or is it No
today disclosing, under the Code in respect of any
other party to this offer?
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2. POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
(a) Interests and short positions in the relevant securities of
the offeror or offeree to which the disclosure relates
Class of relevant security: Common Shares of no Par Value
-------------------------------------- --------------------------------------
Interests Short positions
-------------------------------------- ------------------ ------------------
Number % Number %
-------------------------------------- ------------- --- ------------- ---
(1) Relevant securities owned and/or
controlled:
-------------------------------------- ------------- --- ------------- ---
(2) Derivatives (other than options):
-------------------------------------- ------------- --- ------------- ---
(3) Options and agreements to
purchase/sell:
-------------------------------------- ------------- --- ------------- ---
TOTAL: None None
-------------------------------------- ------------- --- ------------- ---
All interests and all short positions should be disclosed.
Details of any open derivative or option positions, or
agreements to purchase or sell relevant securities, should be given
on a Supplemental Form 8 (Open Positions).
Details of any securities borrowing and lending positions or
financial collateral arrangements should be disclosed on a
Supplemental Form 8 (SBL).
(b) Rights to subscribe for new securities
Class of relevant security in relation to which subscription None
right exists:
------------------------------------------------------------- -----
Details, including nature of the rights concerned None
and relevant percentages:
------------------------------------------------------------- -----
If there are positions or rights to subscribe to disclose in
more than one class of relevant securities of the offeror or
offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for
each additional class of relevant security.
(c) Irrevocable commitments and letters of intent
Details of any irrevocable commitments or letters
of intent procured by the party to the offer making
the disclosure or any person acting in concert with
it (see Note 3 on Rule 2.11 of the Code):
-----------------------------------------------------
None
-----------------------------------------------------
3. POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE
OFFER MAKING THE DISCLOSURE
Details of any interests, short positions and rights
to subscribe of any person acting in concert with
the party to the offer making the disclosure
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Interests
--------------- ------------------------------- ----------------------------
Number of Canaccord Financial % of Canaccord Issued
Name Inc. Common Shares Common Share Capital
--------------- ------------------------------- ----------------------------
Keefe,
Bruyette and
Woods Inc 26,000 0.03%
--------------- ------------------------------- ----------------------------
Canaccord
Genuity
Limited 500 0.0006%
--------------- ------------------------------- ----------------------------
Peter Brown
(director) 1,250,000 1.5%
--------------- ------------------------------- ----------------------------
Charles
Bralver
(director) 20,500 0.02%
--------------- ------------------------------- ----------------------------
Massimo
Carello
(director) 40,000 0.05%
--------------- ------------------------------- ----------------------------
Michael Harris
(director) 41,500 0.05%
--------------- ------------------------------- ----------------------------
David Kassie
(director) 3,271,660 3.9%
--------------- ------------------------------- ----------------------------
Terrence Lyons
(director) 30,000 0.04%
--------------- ------------------------------- ----------------------------
Paul Reynolds
(director) 947,658 1.4%
--------------- ------------------------------- ----------------------------
Michael Walker
(director) 19,535 0.02%
--------------- ------------------------------- ----------------------------
Rights to
Subscribe:
--------------- ------------------------------- ----------------------------
The interests of the Directors under the Company's
share based incentive schemes were the following.
Options granted to independent directors (all directors
listed below except Paul Reynolds) vest over four
years, with one quarter of the options vesting on
March 31(st) of each year. Options granted to Paul
Reynolds, as senior management, vest 20% on August
31, 2012, 30% on August 31, 2013 and 50% on August
31, 2014.
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Options Exercise Grant date Expiry date
Price (c)
-------------------------------- ------------- ------------- -------------
Paul Reynolds 117,318 options $9.47 August 31, August 31,
2009 2016
-------------- ----------------- ------------- ------------- -------------
Charles 25,000 options $8.39 August 31, March 31,
Bralver 2010 2017
-------------- ----------------- ------------- ------------- -------------
Massimo 75,000 options 1) $7.87 1) August 1) March 31,
Carello (each grant was 2) $7.21 31, 2008 2) 2015 2)
25,0000 options 3) $8.39 August 31, March 31,
) 2009 2016 3)
3)August 31, March 31,
2010 2017
-------------- ----------------- ------------- ------------- -------------
Michael 100,000 options 1) $23.131 1) May 16, 1) March 31,
Harris (each grant was 2) $9.48 2007 2) June 2014 2)
25,0000 options 3) $7.21 13, 2008 3) March 31,
) 4) $8.39 May 20, 2009 2015 3)
4) August March 31,
31, 2010 2016 4)
March 31,
2017
-------------- ----------------- ------------- ------------- -------------
William 100,000 options 1) $23.131 1) May 16, 1) March 31,
Eeuwes (each grant was 2) $9.48 2007 2) June 2014 2)
25,0000 options 3) $7.21 13, 2008 3) March 31,
) 4) $8.39 May 20, 2009 2015 3)
4) August March 31,
31, 2010 2016 4)
March 31,
2017
-------------- ----------------- ------------- ------------- -------------
Terrence 100,000 options 1) $23.131 1) May 16, 1) March 31,
Lyons (each grant was 2) $9.48 2007 2) June 2014 2)
25,0000 3) $7.21 13, 2008 3) March 31,
options) 4) $8.39 May 20, 2009 2015 3)
4) August March 31,
31, 2010 2016 4)
March 31,
2017
-------------- ----------------- ------------- ------------- -------------
Michael 100,000 options 1) $23.131 1) May 16, 1) March 31,
Walker (each grant was 2) $9.48 2007 2) June 2014 2)
25,0000 3) $7.21 13, 2008 3) March 31,
options) 4) $8.39 May 20, 2009 2015 3)
4) August March 31,
31, 2010 2016 4)
March 31,
2017
-------------- ----------------- ------------- ------------- -------------
Class of relevant security in Common Shares
relation to which subscription right
exists:
-------------------------------------- --------------------------------------
Details, including nature of the 1) Restricted Share Units ("RSUs"):
rights concerned and relevant The restricted share units vest as
percentages: common shares, on a one for one
basis, over a three year period, with
one third vesting each year. Upon the
vesting of the restricted share
units, the common shares have voting
rights. The following directors hold
RSUs: David Kassie: 37,797 RSUs Paul
Reynolds: 204,668 RSUs 2) Deferred
Share Units ("DSUs"): A DSU is a
bookkeeping entry that tracks the
value of one Common Share. DSUs are
paid out in cash when the director
leaves the Board of Directors. The
following directors hold DSUs:
Charles Bralver: 251 DSUs Massimo
Carello: 251 DSUs William Eeuwes: 501
DSUs Michael Harris: 1,102 DSUs
Terrence Lyons: 801 DSUs Michael
Walker: 501 DSUs
-------------------------------------- --------------------------------------
If there are positions or rights to subscribe to disclose in
more than one class of relevant securities of the offeror or
offeree named in 1(c), copy table 3 for each additional class of
relevant security.
Details of any open derivative or option positions, or
agreements to purchase or sell relevant securities, should be given
on a Supplemental Form 8 (Open Positions).
Details of any securities borrowing and lending positions or
financial collateral arrangements should be disclosed on a
Supplemental Form 8 (SBL).
4. OTHER INFORMATION
(a) Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or
any agreement or understanding, formal or informal,
relating to relevant securities which may be an inducement
to deal or refrain from dealing entered into by the
party to the offer making the disclosure or any person
acting in concert with it:
If there are no such agreements, arrangements or understandings,
state "none"
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None
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(b) Agreements, arrangements or understandings relating to
options or derivatives
Details of any agreement, arrangement or understanding,
formal or informal, between the party to the offer
making the disclosure, or any person acting in concert
with it, and any other person relating to:
(i) the voting rights of any relevant securities under
any option; or
(ii) the voting rights or future acquisition or disposal
of any relevant securities to which any derivative
is referenced:
If there are no such agreements, arrangements or understandings,
state "none"
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None
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(c) Attachments
Are any Supplemental Forms attached?
Supplemental Form 8 (Open Positions) No
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Supplemental Form 8 (SBL) No
------------------------------------- ---
Date of disclosure: August 30, 2011
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Contact name: Julia Gray
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Telephone number: (416) 687-5315
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Public disclosures under Rule 8 of the Code must be made to a
Regulatory Information Service and must also be emailed to the
Takeover Panel at monitoring@disclosure.org.uk. The Panel's Market
Surveillance Unit is available for consultation in relation to the
Code's dealing disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at
www.thetakeoverpanel.org.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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