CGI (TSX: GIB.A) (NYSE: GIB) today announced that Serge Godin, Founder and Executive Chairman of the Board, filed a notice of intention to dispose of, on or after May 13, 2014, up to 2,102,230 Class A subordinate voting shares of the Company, including up to 1,238,230 Class A subordinate voting shares acquired pursuant to the exercise of stock options. Mr. Godin intends to exercise stock options granted to him between 2004 and 2007 and that are nearing their expiry dates due to pre-determined quarterly and other blackout periods prescribed by the Company and that limit periods during which stock options can be exercised before their expiry and cancellation.
The transaction is made for estate planning purposes and a portion of the shares will be donated to Fondation Jeunesse-Vie, a foundation established by Mr. Godin in 2000 with a mission to alleviate poverty, advance education and improve the health of disadvantaged children and teens in Canada.
As a result of the transaction, Mr. Godin’s voting rights in the Company will go from 47.1% to 46.8%. The maximum number of Class A subordinate voting shares to be disposed of represents 6.4% of his total number of securities in the Company. Mr. Godin will continue to own, either directly or through corporations controlled by him, 28,577,089 Class B shares (multiple voting) of the Company.