Canada NewsWire
TORONTO, April 27, 2018
TORONTO, April 27, 2018 /CNW/ - GMP Capital Inc. (GMP)
(TSX:GMP) issues supplemental and clarifying disclosure to its Management Information Circular dated March
23, 2018 (Information Circular) relating to shareholder approval of all unallocated options (Options), rights and other
entitlements under GMP's common share option plan (Option Plan) to be obtained at the annual and special meeting of common
shareholders being held on May 3, 2018 (the Meeting). Specifically, the supplemental and clarifying
disclosure to page 8 of the Information Circular is as follows:
- Based on 78,176,271 Common Shares being issued and outstanding as at December 31, 2017, the
number of common share options (Options) that may be issued under the Option Plan is currently limited to 7,817,627 of which
2,649,125 Options are outstanding (approximately 3.4% of the Common Shares currently issued and outstanding), leaving 5,168,502
unallocated Common Shares available for future Option grants (approximately 6.6% of the Common Shares currently issued and
outstanding). The total number of Common Shares that have been issued pursuant to the Option Plan since inception is 664,795
(approximately 0.9% of the Common Shares currently issued and outstanding).
- The annual burn rate, as described in Section 613(d) of the TSX Company Manual (Burn Rate), under the Option Plan was 0.0%
in fiscal 2015, 0.0% in fiscal 2016, and 0.1% in fiscal 2017. The Burn Rate is calculated by dividing the number of options
granted under the Option Plan during the relevant fiscal year by the weighted average number of securities outstanding for the
applicable fiscal year, as described in Section 613(p) of the TSX Company Manual.
- If the resolution approving all unallocated Options, rights and other entitlements under GMP's Option Plan is passed by
shareholders at the Meeting, the Option Plan will continue in force and all unallocated Options, rights or other entitlements
under the Option Plan will be approved and GMP will have the ability to continue granting Options until May 3, 2021 being the date that is three years from the date the unallocated Options, rights or other
entitlements under the Option Plan were last approved by shareholders on May 3, 2018.
ABOUT GMP CAPITAL INC.
GMP is a leading independent diversified financial services firm headquartered in Toronto,
Canada, providing a wide range of financial products and services to a global client base that includes corporate clients,
institutional investors and high-net-worth individuals in two integrated reporting segments. The Capital Markets segment provides
investment banking, including advisory and underwriting services, institutional sales and trading and research through offices in
Canada, the United States, the United
Kingdom and The Bahamas. Wealth Management consists of GMP's non-controlling ownership
interest in Richardson GMP Limited. Richardson GMP Limited, Canada's largest independent wealth
management firm, is focused on providing exclusive and comprehensive wealth management and investment services delivered by an
experienced team of investment professionals. GMP is listed on the Toronto Stock Exchange under the symbol "GMP". For further
information, please visit our corporate website at gmpcapital.com.
SOURCE GMP Capital Inc.
View original content: http://www.newswire.ca/en/releases/archive/April2018/27/c8020.html