Financial figures expressed in Canadian dollars
CALGARY, Sept. 20, 2018 /CNW/ - Michael Broadfoot
announces that he has sold, through an automatic securities
disposition plan ("ASDP"), an aggregate of 803,500 common
shares ("Shares") in the capital of Solium Capital Inc.
("Solium") between February 1,
2018 and September 18, 2018 at an average price of
$11.30 per Share for total gross
proceeds of $9,082,167.
Together with other sales of Shares, and taking into account
acquisitions from the exercise of stock options, there has been a
net decrease in Mr. Broadfoot's beneficial holdings in the amount
of 1,654,514 Shares since the date of his last early warning report
of November 15, 2010. This
represents an aggregate disposition of 2.9% of the total number of
issued and outstanding Shares. As at
November 15, 2010, Mr. Broadfoot held 7,745,200 Shares,
being approximately 18.82% of the total issued and outstanding
Shares. Mr. Broadfoot currently holds 6,081,186 Shares and
9,500 vested stock options, being approximately 10.8% of the total
issued and outstanding Shares. In addition, Mr. Broadfoot
holds stock options to acquire an additional 9,500 Shares and holds
3,897 restricted share units that have not yet vested (and which
will not vest within the next 60 days).
Mr. Broadfoot previously announced the adoption of the ASDP plan
on December 27, 2017 in order to
facilitate the sale of up to 2,400,000 Shares on the open market
over a period of up to two years. In accordance with Canadian
securities legislation, sales of Shares under the ASDP are being
effected by an independent securities broker in accordance with the
trading parameters, price and volume limits and other instructions
set out at the time the ASDP was adopted. Mr. Broadfoot is not
able to exercise any further discretion or influence over how
dispositions occur under his ASDP, and the broker administering his
ASDP is not permitted to consult with him regarding any such
dispositions.
Mr. Broadfoot retired from his position as the Executive
Chairman of Solium in May of 2017, although he continues as the
Chair of the Board of Directors of Solium. He is selling a portion
of his Shares in order to support his family's philanthropy program
and to support capital requirements in other family owned ventures.
Up to an additional 1,596,500 Shares may be sold pursuant to Mr.
Broadfoot's current ASDP, which expires in January 2020.
Depending on market and other conditions, Mr. Broadfoot may take
such additional actions in respect of his holdings in the future as
he deems appropriate in light of the then existing
circumstances.
Solium's head office is located at: Suite 1500, 600 –
3rd Avenue SW, Calgary,
Alberta T2P 0G5.
SOURCE Solium Capital Inc.