Peter Sharpe (“Sharpe”) announced today that he has acquired, on
the automatic exchange of 149,822 subscription receipts (“Subscription
Receipts”) of Postmedia Network Canada Corp. (“Postmedia”), ownership
and control over 149,822 Class NC variable voting shares (“Variable
Voting Shares”) of Postmedia. The 149,822 Variable Voting Shares, which
are exchangeable for Class C voting shares (“Voting Shares”) of
Postmedia on a one-for-one basis, represent approximately 13.66% of
Postmedia’s outstanding Voting Shares (calculated based on 1,096,475
outstanding Voting Shares, including the 149,822 Variable Voting
Shares). The Subscription Receipts were acquired at a price of $.72 per
Subscription Receipt and the Variable Voting Shares were acquired for no
additional consideration upon the automatic exchange of the Subscription
Receipts.
After giving effect to the exchange of the Variable Voting Shares held
by Sharpe, and assuming no other security holder converts its
convertible securities, Sharpe would own and control 174,822 Voting
Shares representing approximately 15.9% of the outstanding Voting Shares.
Sharpe has purchased the Variable Voting Shares for investment purposes
and may increase or decrease his investment in these securities
depending on Postmedia’s business and prospects, as well as future
market conditions.
Further information (including a copy of the report to be filed with
Canadian securities regulators in connection with this transaction) can
be obtained by contacting:
Mary MacLeod
416-932-2522
Copyright Business Wire 2015