Arison Family Trusts to Sell up to 10 Million Shares of Carnival Corporation
Arison Family Trusts to Sell up to 10 Million Shares of Carnival Corporation
MIAMI, Oct. 24 -- Carnival Corporation & plc (NYSE: CCL; LSE) (NYSE: CUK) announced today it has been advised that one or more trusts whose beneficiaries are members of the Arison family plan to sell up to 10 million shares of Carnival Corporation common stock over a period of up to one year in market sales.
Of the shares planned for sale, none are held by Micky Arison, the company's Chairman and Chief Executive Officer, or by any trusts or other entity of which Mr. Arison is a primary beneficiary. If all the shares covered by the sales plans are sold, the Arison family and related entities will remain beneficial owners of approximately 214 million shares of Carnival Corporation.
The sellers have advised Carnival Corporation that they are selling for estate planning and diversification purposes. In connection with the sales, the sellers are expected to enter into one or more sales plans under Rule 10b5-1. Rule 10b5-1 permits the creation of written plans for buying or selling stock at a time when insiders are not in possession of material non-public information.
Once a plan is established, the insider does not retain or exercise any discretion over sales of stock under the plan and the pre-planned trades can be executed at later dates as set forth in the plan, without regard to any subsequent material non-public information that the insider might receive.
Carnival Corporation & plc is the largest cruise vacation group in the world, with a portfolio of cruise brands in North America, Europe and Australia, comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn Cruise Line, AIDA Cruises, Costa Cruises, Cunard Line, Iberocruceros, Ocean Village, P&O Cruises and P&O Cruises Australia.
Together, these brands operate 84 ships totaling 156,000 lower berths with 20 new ships scheduled to enter service between December 2007 and June 2012. Carnival Corporation & plc also operates Holland America Tours and Princess Tours, the leading tour companies in Alaska and the Canadian Yukon. Traded on both the New York and London Stock Exchanges, Carnival Corporation & plc is the only group in the world to be included in both the S&P 500 and the FTSE 100 indices.
Carnival Corporation /CONTACT: Media, US, Tim Gallagher of Carnival Corporation & plc, +1-305-599-2600, Ext. 16000; UK, Sophie Fitton - Sophie Brand of Brunswick Group, +44(0)20-7404-5959; Investor Relations, US-UK, Beth Roberts of Carnival Corporation & plc, +1-305-406-4832/ Web site: www.carnivalcorp.com /
