Canaccord Capital Inc. discloses directors' dealings

 
TIDMCCI 
 
CANACCORD CAPITAL INC. DISCLOSES DIRECTORS' DEALINGS 
 
 
 
 
 
VANCOUVER, May 22, 2009 - Canaccord Capital Inc. ("CCI" or the "Company") 
announces the following: 
 
 1. Grant of stock options by the Company to five of its directors 
 2. The vesting of Restricted Share Units ("RSUs") that were acquired by Paul 
    Reynolds, Mark Maybank and Tim Hoare through the Long Term Incentive Plan 
    ("LTIP") in lieu of cash compensation and the issuance of 140,976 shares 
 
 
 
1.                  GRANT OF STOCK OPTIONS TO FIVE COMPANY DIRECTORS 
 
 
 
On May 20, 2009, the disinterested directors of Canaccord Capital Inc. approved 
the award of stock options over common shares of the Company to five directors: 
Massimo C. Carello, William J. Eeuwes, Michael D. Harris, Terrence A. Lyons and 
Michael A. Walker. The options are granted under the terms of the Company share 
option plan dated June 23, 2004, which was approved by the Company's 
shareholders at the Company's 2004 annual general meeting. Each of the 
directors has been granted an option to purchase up to 25,000 Common shares of 
the Company on the following terms: 
 
 
 
(a) Exercise price. The exercise price of each share covered by the option is 
the Fair Market Value calculated for the five trading days immediately 
preceding May 20, 2009; the "Fair Market Value" is the five day average of 
daily high and low board lot trading prices of the Common shares of the Company 
on the Toronto Stock Exchange; the exercise price is $7.21 per share; 
 
 
 
(b) Vesting. The optionee will vest in and be entitled to exercise the option 
and the option will become exercisable as to one-quarter of the optioned 
shares, on a cumulative basis, on March 31 of each of 2010, 2011, 2012 and 
2013; 
 
 
 
(c) Early vesting. On the death of the optionee, all previously unvested 
optioned shares of the optionee will vest. At the discretion (exercised within 
10 days after a change of control) of a majority of those persons (other than 
the optionee) who are directors of the Company immediately before the change of 
control, all previously unvested optioned shares of the optionee will vest on 
the change of control. At the discretion of a majority of directors (other than 
the optionee), all previously unvested optioned shares of the optionee will 
vest on the permanent disability of the optionee; 
 
 
 
(d) Term of option. The option expires at the close of business on March 31, 
2016, unless it expires earlier pursuant to the share option plan. 
 
 
 
After this grant, the directors hold the following securities: 
 
 
 
                              Total      Total   Total of shares and 
                   Shares    options    options   options as a % of 
    Director       owned*   previously  granted    total CCI issued 
                             granted   on May 20 common shares as of 
                                                     May 21, 2009 
 
Massimo C.                    25,000    25,000          0.16% 
Carello            40,000 
 
William J. Eeuwes     0       50,000    25,000          0.14% 
 
Michael D. Harris  39,900     50,000    25,000          0.21% 
 
Terrence A. Lyons  30,000     50,000    25,000          0.19% 
 
Michael A. Walker  19,535     50,000    25,000          0.17% 
 
 
* The shares are held directly, indirectly through a personal holding company 
or by a trust of which the director is a beneficiary or by a member of the 
director's family. 
 
2.         ACQUISITION OF SHARES BY Messrs. Reynolds, MAYBANK and Hoare; 
ISSUANCE OF 140,976 SHARES 
 
 
 
On May 21, 2009, a total of 536,046 RSUs vested in respect of previous LTIP 
awards. Of these RSUs which vested on May 21, 2009, Paul Reynolds held 21,366 
RSUs; Tim Hoare held 22,277 RSUs; and Mark Maybank held 24,556 RSUs. They will 
therefore respectively acquire 21,366; 22,277 and 24,556 common shares in the 
Company by transfer from the employee benefit trust which had previously 
acquired these shares on the open market (in the case of Mr. Maybank) and by 
issue from treasury (in the case of Messrs. Reynolds and Hoare). 
 
 
 
For employees in the United States and the United Kingdom (principally 
employees of Canaccord Adams Inc. and Canaccord Adams Limited), the shares to 
be issued on the vesting of the awards are issued from treasury. Therefore, in 
respect of the 536,046 RSUs which vested on May 21, 2009, a total of 140,976 
Common shares of the Company will be issued and application has been made for 
their admission to AIM on May 28, 2009.  With the issue of these shares, 
Canaccord Capital Inc. now has 55,233,820 shares issued and outstanding. 
 
 
 
In summary, after the vesting of RSUs, the holdings related to Messrs. 
Reynolds, Hoare and Maybank are as follows: 
 
 
 
                    Shares   RSUs held                       Total   Total as a % 
                    owned     before     RSUs    RSUs held           of total CCI 
    Director      (excluding  May 21   vested on   after    (common     issued 
                    RSUs)     vesting   May 21    vesting  shares +     common 
                                                             RSUs)      shares 
 
Paul D. Reynolds  1,237,636*  200,870   21,366    179,504  1,438,506    2.60% 
 
Timothy J. D.                 161,266   22,277    138,989  1,065,949    1.93% 
Hoare              904,683 
 
Mark G. Maybank    511,850    362,306   24,556    337,750   874,156     1.58% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*This includes 1,102,041 shares held by the Reynolds Family Trust. 
 
 
 
The LTIP is an initiative by Canaccord that was announced on June 7, 2007, and 
approved at the Company's annual general meeting on August 2, 2007. 
 
 
 
ABOUT CANACCORD CAPITAL INC.: 
 
 
 
Through its principal subsidiaries, Canaccord Capital Inc. (TSX & AIM: CCI) is 
a leading independent, full-service investment dealer in Canada with capital 
markets operations in the United Kingdom and the United States. Canaccord is 
publicly traded on both the Toronto Stock Exchange and AIM, a market operated 
by the London Stock Exchange. Canaccord has operations in two of the principal 
segments of the securities industry: capital markets and private client 
services. Together, these operations offer a wide range of complementary 
investment products, brokerage services and investment banking services to 
Canaccord's private, institutional and corporate clients. Canaccord has 31 
offices worldwide, including 24 Private Client Services offices located across 
Canada. Canaccord Adams, the international capital markets division, has 
operations in Toronto, London, Boston, Vancouver, New York, Calgary, Montreal, 
San Francisco, Houston, and Barbados. 
 
 
 
FOR FURTHER INFORMATION CONTACT: 
 
 
 
North America Media: 
 
Scott Davidson 
 
Managing Director, Global Head of Marketing & Communications 
 
Phone: [phone], email: [e-mail] 
 
 
 
For investor relations inquiries contact: 
 
Joy Fenney 
Vice President, Investor Relations & Communications 
Phone: [phone], email: [e-mail] 
 
 
 
 
 
London Media: 
 
Bobby Morse or Ben Willey 
 
Buchanan Communications (London) 
 
Phone: [phone], email: [e-mail] 
 
 
 
Nominated Adviser and Broker: 
 
Marc Milmo or Dugald J. Carlean 
 
Fox-Pitt, Kelton Limited 
 
Phone: [phone], email: [e-mail] 
 
 
 
 
 
 
 
END