684739 B.C. Ltd. (the “Purchaser”) announced today that on June 9, 2022, it purchased 6,000 common shares (the “Purchased Shares”) in the capital of Vecima Networks Inc. (“Vecima” or the “Company”), representing approximately 0.025% of the issued and outstanding common shares (“Common Shares”) of Vecima (the “Acquisition”). The directors of the Purchaser are Dr. Surinder Kumar, Saket Kumar and Sumit Kumar, each of whom holds equal voting power with respect to the Purchaser.
The Purchased Shares were acquired through normal course purchases through the facilities of the Toronto Stock Exchange for $15.06 per Purchased Share for 5,000 of the Purchased Shares and for $14.98 per Purchased Share for 1,000 of the Purchased Shares, for an aggregate amount equal to $90,280. Prior to the Acquisition, the Purchaser owned, or had control or direction over 13,559,813 Common Shares, representing approximately 58.69% of the issued and outstanding Common Shares of Vecima. After the Acquisition, the Purchaser owns, or has control or direction over, 13,565,813 Common Shares, representing approximately 58.72% of the issued and outstanding Common Shares.
The Purchaser purchased the Common Shares for investment purposes. Depending on economic factors, market conditions, and the Purchaser’s evaluation of the Company’s business, prospects and performance, availability of other investment opportunities and other factors, the Purchaser may from time to time acquire additional securities of the Company, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Company.
This press release is being issued pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators.
The Company’s head office is located at 771 Vanalman Avenue, Victoria, BC V8Z 3B8. For further information and to obtain a copy of the early warning report that will be filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Vecima’s profile on the SEDAR website www.sedar.com.
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