Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced today that members of the Arison family and certain related entities, including trusts organized by members of the Arison family, have advised Carnival Corporation that they plan to sell up to 8.5 million shares of Carnival Corporation Common Stock in market sales, representing up to approximately 1% of the total combined voting rights of Carnival Corporation & plc.
Of the shares planned for sale, up to 5 million shares are held either directly or indirectly by Micky Arison, the company's Chairman and Chief Executive Officer. If all the shares covered by the sales plan are sold, the Arison family and related entities will remain beneficial owners of approximately 220 million shares, constituting approximately 28% of the total combined voting rights of Carnival Corporation & plc.
The sellers have advised Carnival Corporation that they are selling for tax planning, 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-l. Rule 10b5-l 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 preplanned 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, The Yachts of Seabourn, AIDA Cruises, Costa Cruises, Cunard Line, Ibero Cruises, Ocean Village, P&O Cruises and P&O Cruises Australia.