Gildan's President and Chief Executive Officer Initiates 10b5-1 Plan
17 Febbraio 2014 - 3:00PM
Marketwired
Gildan's President and Chief Executive Officer Initiates 10b5-1
Plan
MONTREAL, QUEBEC--(Marketwired - Feb 17, 2014) - Gildan
Activewear Inc. (TSX:GIL)(NYSE:GIL) today announced that Glenn J.
Chamandy, President and CEO, has entered into a pre-arranged share
disposition plan, under which he has authorized and directed a U.S.
financial institution to sell up to 1 million of his common shares
of Gildan over a maximum 11-month period beginning on March 10,
2014. Subsequent to the sale of shares under the 10b5-1 plan, Mr.
Chamandy will continue to be one of the largest investors in
Gildan, with over 6 million remaining shares representing
approximately 5% of the outstanding shares on a fully diluted
basis.
This share disposition plan was adopted in accordance with the
guidelines under Rule 10b5-1 of the Securities Exchange Act of 1934
and guidelines for Automatic Securities Disposition Plans under
applicable Canadian securities laws. Plans established pursuant to
Rule 10b5-1 permit insiders of a corporation to sell shares over a
predetermined period of time, subject to predetermined volume and
price parameters. A plan can only be established when the insider
participating in the plan is not in possession of material
non-public information. Once a plan is established, the insider
retains no discretion over sales under the plan. Mr. Chamandy will
disclose publicly the sales under this plan through Form 144
filings as required by the U.S. Securities and Exchange Commission
and through insider reports filed on SEDI as required under
Canadian securities laws.
About Gildan
Gildan is a leading supplier of quality branded basic family
apparel, including T-shirts, fleece, sport shirts, socks and
underwear. The Company sells its products under a diversified
portfolio of company-owned brands, including the Gildan®, Gold Toe®
and Anvil® brands and brand extensions, as well as under licensing
arrangements for the Under Armour®, Mossy Oak® and New Balance®
brands. The Company distributes its products in printwear markets
in the U.S. and Canada, where Gildan® is the industry-leading
brand, and the Company is increasing its penetration in
international printwear markets. The Company is also one of the
largest suppliers of branded athletic, casual and dress socks for a
broad spectrum of retailers in the U.S. The Company is also
developing Gildan® as a consumer brand for underwear and
activewear.
Gildan owns and operates vertically-integrated, large-scale
manufacturing facilities which are primarily located in Central
America and the Caribbean Basin to efficiently service the
replenishment needs of its customers in the printwear and retail
markets. Gildan has over 34,000 employees worldwide and is
committed to industry-leading labour and environmental practices in
all of its facilities. More information about the Company and its
corporate citizenship practices and initiatives can be found at its
corporate websites www.gildan.com and www.genuinegildan.com,
respectively.
Investor RelationsSophie ArgiriouVice-President,Investor
Communications(514) 343-8815sargiriou@gildan.comMedia
RelationsStephanie GaucherManager,Corporate Communications(514)
343-8811sgaucher@gildan.com
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