MONTREAL, QUEBEC--(Marketwired - Mar 31, 2017) - On March 31, 2017, David Brereton, Executive Chairman of TECSYS Inc. ("TECSYS") and Kathryn Ensign-Brereton, his spouse, disposed of an aggregate of 100,000 common shares ("Shares") of TECSYS. Of the Shares disposed, (i) 15,000 were donated by Mr. Brereton and 5,000 by Ms. Ensign-Brereton to a charitable organization; and (ii) 70,000 were sold by Mr. Brereton or his holding company, Dabre Inc. ("Dabre") and 10,000 by Ms. Ensign-Brereton through the facilities of the Toronto Stock Exchange ("TSX") at an average price of $10.27 per Share, for aggregate gross proceeds of $821,600.00.
As at May 9, 2016, Mr. David Brereton beneficially owned, directly and through Dabre, an aggregate of 3,004,338 Shares, and Ms. Kathryn Ensign-Brereton, 1,152,402 Shares. Together, they beneficially owned an aggregate of 4,156,740 Shares, representing 33.75% of the 12,315,326 issued and outstanding Shares.
Following disposals since May 2016 including the March 31 transactions, Mr. David Brereton beneficially owns an aggregate of 2,769,338 Shares, and Ms. Kathryn Ensign-Brereton beneficially owns 1,107,402 Shares. Together, they beneficially own an aggregate of 3,876,740 Shares, representing 31.48% of the 12,315,326 issued and outstanding Shares, or a decrease of 2.27%.
As Executive Chairman of the board of directors and the largest shareholder of TECSYS, Mr. Brereton is and will continue to be actively involved in TECSYS' business. The Shares beneficially owned by Mr. Brereton and Ms. Ensign-Brereton are held for investment purposes. Each of them intends to review on a continuing basis his or her investment in TECSYS. Either of them may, depending on market and other conditions, increase or decrease his or her beneficial ownership of securities of TECSYS through market transactions, private agreements, public offerings, donations or otherwise.
An early warning report relating to this transaction will be filed on SEDAR under TECSYS' profile at www.sedar.com. To obtain a copy of such report, please contact Mr. Steve Li at (514) 866-5800.
|David Brereton||TECSYS Inc.|
|26 Maple Avenue||1 Place Alexis Nihon, Suite 800|
|Sainte-Anne-de-Bellevue, Québec||Montréal, Québec|
|Canada H9X 2E6||Canada H3Z 3B8|