TSX:
CCL
TORONTO, June 1, 2023
/CNW/ - This news release relates to the shares of CCL Industries
Inc. (the "Company"). 1281228 Ontario
Inc. ("128") announces that on May 31, 2023, SHL Subco 15 Corp., a corporation
indirectly controlled by 128 transferred 1,544,844 Class B
non-voting shares (the "Class B Shares") of the
Company to The Angel Gabriel Foundation and 1,571,340 Class B
Shares to The Damascus Road Foundation by way of charitable gifts
(collectively, the "Gifts"). Following completion of the
Gifts, 128, together with its affiliates, no longer hold 10% or
more of the outstanding Class B Shares of the Company.
Stuart Lang, a director of 128,
is also a director of the Company, The Angel Gabriel Foundation and
The Damascus Road Foundation.
Prior to completion of the Gifts, 128, together with its
affiliates, directly or indirectly beneficially owned an aggregate
of 11,209,400 Class A voting shares of the Company ("Class A
Shares") and 16,772,108 Class B Shares, representing
approximately 95.1% and 10.1% of the issued and outstanding Class A
Shares and Class B Shares, respectively.
Following completion of the Gifts, 128, together with its
affiliates, directly or indirectly beneficially own an aggregate of
11,209,400 Class A Shares and 13,655,924 Class B Shares,
representing approximately 95.1% and 8.2% of the issued and
outstanding Class A Shares and Class B Shares respectively.
The Gifts were completed in support of philanthropic endeavors
and for estate planning purposes. 128 may, depending on market and
other conditions, increase or decrease its holdings in the Company
from time to time, as it may determine appropriate for investment
and other purposes.
This press release is issued pursuant to National Instrument 62-103
- The Early Warning System and Related Take-Over Bid and Insider
Reporting Issues, which also requires a report to be filed with
regulatory authorities in each of the jurisdictions in which the
Company is a reporting issuer containing information with respect
to the foregoing matters (the "Early Warning Report"). A
copy of the Early Warning Report will appear with the Company's
documents on the System for Electronic Document Analysis and
Retrieval at www.sedar.com. The Company's head office is located at
111 Gordon Baker Road Suite 801, Toronto,
ON M2H 3R1.
SOURCE CCL Industries Inc.
