Not with 8Mil shares pending:
AIG Cap Funds In Plan To Sell Up To 8M Primus Telecom Shrs
11:50 AM ET - Dow Jones News
DOW JONES NEWSWIRES Primus Telecommunications Group Inc. (PRTL) said Thursday that the private equity funds managed by subsidiaries of AIG Capital Partners Inc., that have held an ownership interest in Primus, adopted a pre-arranged stock trading plan which authorizes the sale of up to 8 million shares of Primus stock.
The plan replaces anotherpre-arranged stock trading plan which had expired, according to a filing with the Securities and Exchange Commission. The 8 million shares represent approximately 48% of the shares AIG beneficially owned in Primus.
The stock trading plan was established under the SEC's Rule 10b5-1 for the purposes of financial planning and asset diversification. Such plans allow company insiders to buy or sell their company's stock legally, even if they later acquire inside information. The legal protections provided by these plans are based on the assumption that the insider didn't have material, nonpublic information when the plan was set up.
Primus is an integrated communications services provider offering international and domestic voice, voice-over-Internet protocol (VOIP), Internet, wireless, data and hosting services to business and residential retail customers and other carriers located primarily in the U.S., Canada, Australia, the U.K. and Western Europe.
-Ingrid Pedrick Lehrfeld, Dow Jones Newswires; 202-862-1361
> Dow Jones Newswires
05-24-07 1149ET
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