corporate bond update: issuance is expected to total about $20 B as market conditions stabilize somewhat and as more companies exit blackout periods
Subject to applicable blackout periods
of the company, such sales may occur thereafter over a period of 30 days.
Air Canada announced today that, in connection with its previously announced normal course issuer bid to purchase for cancellation, up to 22,364,183 Class A variable voting shares and Class B voting shares (collectively the "Shares"), representing 10 per cent of the public float of 223,641,836 Shares as at May 17, 2017 (the "Issuer Bid"), it entered into an automatic share purchase plan (the "Plan") with a designated broker to facilitate the purchase of Shares under the Issuer Bid at times when Air Canada would ordinarily not be permitted to purchase its Shares due to regulatory restrictions or self-imposed blackout periods
The process can take an average of 90 days; there are blackout periods
to consider, plan design changes, participant communications and more.
There are many reasons for the trend in a territory where box office is routinely manipulated by the government, with practices that include blackout periods
for foreign films; simultaneous releases of major titles, with an eye toward cannibalization; and official ticket-buying schemes to boost local titles.
A plan under Rule 10b5-1 allows companies to repurchase shares at times when it might otherwise be prevented from doing so by securities laws or because of self-imposed trading blackout periods
Rule 10b5-1 allows the company to execute trades during periods when it would ordinarily not be permitted to do so because it may be in possession of material non-public information, because of insider trading laws or self-imposed trading blackout periods
The offer is valid for sales up to August 11, for outbound travel between the July 20 to August 15, 2012 -- blackout periods
The plan is to allow the designated broker to continue to make repurchases under the NCIB when Hanfeng would ordinarily not be permitted to repurchase shares in the market due to its own internal trading blackout periods
, insider trading rules or otherwise.
The discounted tickets are valid for travel between 1 November 2011 and 31 March 2012, with blackout periods
applying over Christmas and the Chinese New Year.
The Compliance Suite enables policy enforcement through proactive compliance by preventing insider trading breaches and detecting irregularities during blackout periods