Financial figures expressed in Canadian dollars
CALGARY, Feb. 6, 2019 /CNW/ - Michael Broadfoot announces that he has sold,
through an automatic securities disposition plan ("ASDP"),
an aggregate of 419,800 common shares ("Shares") in the
capital of Solium Capital Inc. ("Solium") between
September 19, 2018 and February 5, 2019 at an average price of
$12.25 per Share for total gross
proceeds of $5,144,070. This is
in addition to the 803,500 Shares he sold through the ASDP between
February 1, 2018 and
September 18, 2018 as previously announced on September 20, 2018.
The purpose of this early warning press release is to announce
that Mr. Broadfoot now holds less than 10% of the issued and
outstanding Shares.
As at February 5, 2019, Mr.
Broadfoot currently holds 5,661,386 Common Shares, 9,500 vested
stock options and 1,949 RSUs that will vest within 60 days, being
approximately 9.995% of the total issued and outstanding Shares (on
a partially diluted basis). In addition, Mr. Broadfoot holds
stock options to acquire an additional 9,500 Shares and holds 1,948
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 1,176,700 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.