Adoption of an automatic securities https://www.newswire.ca/news-releases/mym-adopts-automatic-securities-disposition-plan-667128373.html VANCOUVER, British Columbia, Dec. 29, 2017/PRNewswire/ -- MYM Nutraceuticals Inc., (CSE: MYM) (OTC: MYMMF) (the "Company" or "MYM") announces the adoption of an automatic securities disposition plan ("ASDP"). Canadian legislation permits an insider to adopt a written ASDP to sell shares through an independent broker in accordance with a pre-arranged set of instructions, regardless of any subsequent material non-public information the insider may receive, as long as the ASDP satisfies certain requirements. In accordance with Canadian legislation, sales of shares under the ASDP will be effected by independent securities brokers in accordance with the trading parameters and other instructions set out in the ASDP.
MYM insiders will not exercise any discretion or influence over how dispositions will occur under the ASDP, and the broker administering the ASDP is not permitted to consult with MYM insiders regarding any such dispositions. In addition, insiders are subject to restrictions on their ability to modify, suspend or terminate their participation in the ASDP.
The objective of the ASDP is to facilitate the sale of common shares of MYM currently held by insiders on the open market over a period of up to two years at prevailing market prices. The ASDP will allow those MYM insiders to sell their shares in order to further diversify their respective portfolios.
Transactions under the ASDP will be reported on SEDI at www.sedi.ca in accordance with applicable Canadian securities laws. Each such filing will bear a notation to advise readers that the dispositions relate to an ASDP.
Upon entering the ASDP, MYM recognizes that insiders may have reasons unrelated to their assessment of the Company or its prospects in deciding to sell shares of the Company.
Insiders of the MYM that participate in the ASDP will disclose the establishment of an ASDP in insider reports filed in accordance with applicable securities laws and MYM may from time to time disclose the adoption of such plans in the future.
The ASDP trading plan is as follows:
Rob Gietl – 25,000 shares per month for 24 months
Erick Factor – 40,000 shares per month for 24 months
Ian Ramage – 10,000 shares per month for 24 months
Mark Forster – 40,000 shares per month for 24 months
Robin Linden – 1500 shares per months for 24 months