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Who Wants Some NT Shares?
By Mark Evans | November 9, 2007
Nortel’s board of directors has approved a share purchase plan that will let “certain Nortel executive officers to purchase common shares from Nortel to satisfy share ownership guidelines”.
“All shares issued under the plan will be sold for fair market value determined by reference to the volume weighted average trading price of the shares for the 5 consecutive trading days on which at least a board lot of shares trades on each of the TSX and the NYSE, commencing on the day that a purchase order for shares is submitted under the plan, on either the TSX or the NYSE, whichever is higher.”
What I want to know is whether these “certain executives” have to cough up the dough, or whether Nortel will help them out with a loan, and whether that loan could be forgivable over time.
Just wondering.
Topics: Executive Suite, Stock |