Intertape Polymer Group President and CEO Adopts 10b5-1 Plan
MONTREAL, QUEBEC and BRADENTON, FLORIDA -- (Marketwire) -- 01/03/13
-- Gregory A. Yull, President and Chief Executive Officer of
Intertape Polymer Group Inc. (TSX:ITP) ("Intertape" or the
"Company"), adopted an automatic securities disposition plan ("ASDP")
in accordance with Rule 10b5-1 of the Securities Exchange Act of
1934, as amended, and applicable Canadian provincial securities
legislation, including the guidance under Ontario Securities
Commission's Staff Notice 55-701 (the "Canadian Legislation").
Generally the Canadian Legislation permits insiders to adopt written
ASDPs (typically referred to in the United States as "Rule 10b5-1
Plans") to sell, donate or otherwise transfer shares (including upon
exercise of stock options) as provided in the ASDP regardless of any
subsequent material non-public information they receive. Once an ASDP
is established, the insider is not permitted to exercise any further
discretion or influence over how dispositions will occur under the
Mr. Yull's ASDP covers up to 417,073 shares to be acquired through
the exercise of stock options which are scheduled to expire in
September 2013. The objective of Mr. Yull's ASDP is to facilitate the
cashless exercise of his vested stock op
tions which, as stated, will
expire in September 2013 and sell only the number of underlying
shares necessary to cover the exercise cost (option price plus any
applicable taxes, commissions and fees) resulting from the option
exercise. The number of shares to be sold to cover Mr. Yull's
exercise costs are expected to total less than 270,000 and may be
sold between May 2013 and September 2013 on the open market at
prevailing market prices and subject to minimum price thresholds
specified in his plan. The Intertape shares to be sold by Mr. Yull
are issuable upon the exercise and vesting of stock options that are
expiring during the term of the ASDP.
Transactions under Mr. Yull's ASDP will be reported on SEDI in
accordance with applicable Canadian securities laws. Each such filing
will bear a notation to advise readers that the dispositions relate
to an ASDP.
About Intertape Polymer Group Inc.
Intertape Polymer Group Inc. is a recognized leader in the
development, manufacture and sale of a variety of paper and film
based pressure sensitive and water activated tapes, specialized
polyolefin films, woven fabrics and complementary packaging systems
for industrial and retail use. Headquartered in Montreal, Quebec and
Bradenton, Florida, the Company employs approximately 1,800 employees
with operations in 19 locations, including 12 manufacturing
facilities in North America and one in Europe.
Safe Harbor Statement
Intertape's news releases contain "forward-looking information"
within the meaning of applicable Canadian securities legislation and
"forward-looking statements" within the meaning of United States
federal securities legislation (collectively, "forward-looking
statements"). All statements other than statements of historical
facts included in its press releases, including statements regarding
our industry and our prospects, plans, financial position and
business strategy, may constitute forward-looking statements. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections about the industries in which we
operate as well as beliefs and assumptions made by our management.
Such statements include, in particular, statements about our plans,
prospects, financial position and business strategies. Words such as
"may," "will," "expect," "continue," "intend," "estimate,"
"anticipate," "plan," "foresee," "believe" or "seek" or the negatives
of these terms or variations of them or similar terminology are
intended to identify such forward-looking statements. Although we
believe that the expectations reflected in these forward-looking
statements are reasonable, these statements, by their nature, involve
risks and uncertainties and are not guarantees of future performance.
Such statements are also subject to assumptions concerning, among
other things: our anticipated business strategies; anticipated trends
in our business; and our ability to continue to control costs. We can
give no assurance that these estimates and expectations will prove to
have been correct. Actual outcomes and results may, and often do,
differ from what is expressed, implied or projected in such
forward-looking statements, and such differences may be material. For
additional information regarding some important factors that could
cause actual results to differ materially from those expressed in
these forward-looking statements and other risks and uncertainties,
and the assumptions underlying the forward-looking statements, you
are encouraged to read "Item 3. Key Information - Risk Factors" as
well as statements located elsewhere in Intertape's annual report on
Form 20-F for the year ended December 31, 2011 and the other factors
contained in our filings with the Canadian securities regulators and
the US Securities and Exchange Commission. Each of these
forward-looking statements speaks only as of the date of the press
release. We will not update these statements unless applicable
securities laws require us to do so.
Rick Leckner/Pierre Boucher
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