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Bullboard - Stock Discussion Forum
Savaria Corp
T.SIS
Alternate Symbol(s):
SISXF
Industrials
Savaria Corporation is a Canada-based company engaged in the accessibility industry. The Company provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its segments include Accessibility and Patient Care. It designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved...
stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients, including ceiling lifts and slings. It operates a sales network of dealers worldwide and direct sales offices in North America, Europe (United Kingdom, The Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic), Australia and China.
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TSX:SIS - Post Discussion
Savaria Corp
> SIS pres&ceo to sell 1,700,000 common shares no price & date
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•••
Humanist
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Post by
Humanist
on Dec 13, 2022 9:07am
SIS pres&ceo to sell 1,700,000 common shares no price & date
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.
(655)
•••
TimeBuilder
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Comment by
TimeBuilder
on Dec 13, 2022 12:48pm
Still a very Long term Investment here...Notice PR was after Dec 9th Div payment date..Regards to ALL Investors OLD & NEW, TimeBuilder ( Is it Time to BUY More on any pull back ?) JMO Ex-Dividend Date29 Nov. 2022 Dividend Payment Date09 Dec. 2022 Monthly Dividend / Yield$0.04/3.63% Market Cap$921.59M P/E Ratio64.88 Estimated Earnings$0.56 Analyst
...more
(12)
•••
Paddy902
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Comment by
Paddy902
on Dec 13, 2022 9:41pm
A risk with these family run, smaller companies, but same thing happened with Hammond Power and 6 months later it was up nicely. It should not have a material impact on share price longer term.
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