Air Canada 2012 Annual Report Download - page 48

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2012 Air Canada Annual Report
48
9.9. Share Information
The issued and outstanding shares of Air Canada, along with shares potentially issuable, as of the dates indicated below, are as
follows:
Number of Shares at
January 31, 2013 December 31, 2012 December 31, 2011
Issued and outstanding shares
Class A variable voting shares 32,722,304 33,006,104 42,204,645
Class B voting shares 241,722,749 241,437,699 235,166,848
Total issued and outstanding shares 274,445,053 274,443,803 277,371,493
Class A variable voting and Class B voting shares potentially issuable
Warrants 10,000,000 10,000,000 89,430,300
Shares held in trust 1,445,082 1,445,082 1,536,992
Stock options 8,409,153 8,410,403 6,581,242
Total shares potentially issuable 19,854,235 19,855,485 97,548,534
Total outstanding and potentially issuable shares 294,299,288 294,299,288 374,920,027
Earnings per Share
The following reflects the share amounts used in the computation of basic and diluted earnings per share:
Fourth Quarter Full Year
(Canadian dollars in millions) 2012 2011 2012 2011
Weighted average number of shares outstanding – basic 276 277 276 278
Effect of dilution 5 2 2 11
add back anti-dilutive impact – (2) – (11)
Weighted average number of shares outstanding – diluted 281 277 278 278
Issuer Bid
In December 2011, Air Canada announced that it received approval from the Toronto Stock Exchange (“TSX”) to implement a
normal course issuer bid to purchase, for cancellation, up to 24,737,753 Class A Variable Voting Shares and/or Class B Voting
Shares (the “Shares”), representing, at that time, 10% of the total public float of the Shares.
The repurchase program, which commenced on December 12, 2011 and ended December 11, 2012, was conducted through
the facilities of the TSX. In 2012, Air Canada purchased and cancelled 3,019,600 Voting Shares for cash at an average price of
$1.67 per Voting Share (2011 – 239,524 shares at an average cost of $1.08 per share).
Warrants
Warrants outstanding as at December 31, 2012 are as follows:
Grant date Number of Warrants
Outstanding Exercise Prices Expiry Dates
July 30, 2009 5,000,000 $1.51 July 30, 2013
October 19, 2009 5,000,000 $1.44 October 19, 2013
10,000,000
In 2012, 79,430,300 warrants with an exercise price of $2.20 expired. Upon expiry, the value ascribed to Share capital related
to the warrants of $18 million was reclassified to the Deficit. During 2012 and 2011, no warrants were exercised.