MONTREAL , April 12, 2021 /CNW Telbec/ - Mr. Stanley Ma , the Founder and President and Chairman of the Board of MTY Food Group Inc. ("MTY"), has filed today a notice of intention to distribute securities in connection with his proposed sale of up to 880,000 common shares of MTY ("Common Shares"), representing up to 3.56% 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.
In connection therewith, Mr. Ma has filed today an early warning report with respect to his shareholdings in MTY. The Common Shares are proposed to be sold by Mr. Ma for personal reasons, for estate planning purposes and in support of philanthropic endeavors. Mr. Ma is and will continue to be the largest shareholder of MTY and will remain in his current role of President and Chairman of the Board.
A copy of the notice of intention to distribute securities (Form 45-102F1) filed by Mr. Ma is available under MTY's SEDAR profile at www.sedar.com . There is no assurance as to the timing of the proposed sales contemplated in the notice, and any such proposed sales may not occur.
As of April 12, 2021 , Mr. Ma: (i) beneficially owns and controls 764,034 Common Shares (representing 3.09% of the issued and outstanding Common Shares), (ii) controls 446,500 Common Shares beneficially owned by 3148785 Canada Inc. (representing 1.81% of the issued and outstanding Common Shares), (iii) controls 600,000 Common Shares beneficially owned by The Ma Family Holdings Inc. (representing 2.43% of the issued and outstanding Common Shares), and (iv) controls 3,075,109 Common Shares beneficially owned by 11625306 Canada Inc. (representing 12.45% of the issued and outstanding Common Shares), representing in aggregate 4,885,643 Common Shares (or 19.77% of the issued and outstanding Common Shares).
In addition, as of April 12, 2021 , the spouse of Mr. Ma beneficially owns and controls 514,500 Common Shares (representing 2.08% of the issued and outstanding Common Shares), representing a total ownership, on a combined basis with Mr. Ma and entities controlled by Mr. Ma as outlined above, of 5,400,143 Common Shares (representing 21.86% of the issued and outstanding Common Shares).
Mr. Ma and any joint actor may, from time to time, acquire or dispose of ownership or control or direction over some or all of the securities of MTY depending on a number of factors.
For further information, including regarding the early warning report, including a copy of same (which is available under MTY's SEDAR profile at www.sedar.com ), please contact:
Eric Lefebvre , Chief Executive Officer of MTY, at 1-514-336-8885 Ext: 8288 or by email at ir@mtygroup.com . The address of the head office of MTY is 8210 Trans-Canada Highway, St-Laurent, Quebec , H4S 1M5.
SOURCE MTY Food Group Inc.
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