Savaria Corp T.SIS

SIS pres&ceo to sell 1,700,000 common shares no price & date

[Humanist]

Savaria President and CEO Intends to Distribute Securities
T.SIS |
Dec 12/2022/ 8:03 pm

LAVAL, Qubec, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria”) (TSX: SIS) a global leader in the accessibility industry, announces today that Mr. Marcel Bourassa, President and CEO of Savaria, has filed a notice of intention to distribute securities in connection with his proposed sale of up to 1,700,000 common shares of Savaria (representing up to 2.64% of the issued and outstanding common shares). The common shares are expected to be sold through the facilities of the Toronto Stock Exchange and may also be sold or transferred privately.

The common shares are proposed to be sold by Mr. Marcel Bourassa for personal reasons, for family estate planning purposes and in support of philanthropic endeavors. As he holds some of his common shares in Savaria through various holding companies, this proposed sale of shares will also financially benefit Mr. Marcel Bourassa’s brother Mr. Jean-Marie Bourassa. Mr. Marcel Bourassa is and, following the proposed sale, will continue to be the largest shareholder of Savaria.

As of December 12, 2022, Mr. Marcel Bourassa owns or controls, directly or indirectly, an aggregate of 14,905,167 common shares of Savaria or 23.14% of the issued and outstanding shares. If the maximum number of shares covered by his notice of intention are ultimately sold, and assuming no other variation of his current share ownership, Mr. Marcel Bourassa would still own or control, directly or indirectly, an aggregate of 13,205,167 common shares of Savaria, or 20.50% of the common shares currently issued and outstanding.

Mr. Marcel Bourassa may, depending on market and other conditions, increase or decrease his security holdings in Savaria from time to time as he may determine appropriate for investment purposes. An early warning report will be filed by him under Savaria’s SEDAR profile at www.sedar.com to update his most recent early warning report. A copy of the notice of intention to distribute securities (Form 45-102F1) filed by him is available under Savaria’s SEDAR profile. There is no assurance as to the timing of the proposed sales contemplated in the notice, and any such proposed sales may not occur.