Savaria President and CEO Intends to Distribute Securities
12 Dezembro 2022 - 9:15PM
Savaria Corporation (“Savaria”) (TSX: SIS) a global leader in the
accessibility industry, announces today that Mr. Marcel
Bourassa, President and CEO of Savaria, has filed a notice of
intention to distribute securities in connection with his proposed
sale of up to 1,700,000 common shares of Savaria (representing
up to 2.64% 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.
The common shares are proposed to be sold by
Mr. Marcel Bourassa for personal reasons, for family
estate planning purposes and in support of philanthropic endeavors.
As he holds some of his common shares in Savaria through various
holding companies, this proposed sale of shares will also
financially benefit Mr. Marcel Bourassa’s brother Mr.
Jean-Marie Bourassa. Mr. Marcel Bourassa is and,
following the proposed sale, will continue to be the largest
shareholder of Savaria.
As of December 12, 2022,
Mr. Marcel Bourassa owns or controls, directly or
indirectly, an aggregate of 14,905,167 common shares of
Savaria or 23.14% of the issued and outstanding shares. If the
maximum number of shares covered by his notice of intention are
ultimately sold, and assuming no other variation of his current
share ownership, Mr. Marcel Bourassa would still own or
control, directly or indirectly, an aggregate of 13,205,167 common
shares of Savaria, or 20.50% of the common shares currently issued
and outstanding.
Mr. Marcel Bourassa may, depending on market and
other conditions, increase or decrease his security holdings in
Savaria from time to time as he may determine appropriate for
investment purposes. An early warning report will be filed by him
under Savaria’s SEDAR profile at www.sedar.com to update his most
recent early warning report. A copy of the notice of intention to
distribute securities (Form 45-102F1) filed by him is available
under Savaria’s SEDAR profile. There is no assurance as to the
timing of the proposed sales contemplated in the notice, and any
such proposed sales may not occur.
About Savaria Corporation
Savaria Corporation (savaria.com) is a global
leader in the accessibility industry. It provides accessibility
solutions for the physically challenged to increase their comfort,
their mobility and their independence. Its product line is one of
the most comprehensive on the market. Savaria designs,
manufactures, distributes and installs accessibility equipment,
such as stairlifts for straight and curved stairs, vertical and
inclined wheelchair lifts and elevators for home and commercial
use. It also manufactures and markets a comprehensive selection of
pressure management products for the medical market, medical beds
for the long-term care market, as well as an extensive line of
medical equipment and solutions for the safe handling of patients,
including ceiling lifts and slings. In addition, Savaria converts
and adapts vehicles for personal and commercial uses. The
Corporation operates a sales network of dealers worldwide and
direct sales offices in North America, Europe (UK, The Netherlands,
Switzerland, Italy, Germany, Poland and Czech Republic), Australia
and China. Savaria employs approximately 2,250 people globally and
its plants are located across Canada, the United States, Mexico,
Europe and China.
Forward-Looking Statements
This press release includes certain statements
that are “forward-looking statements” within the meaning of the
securities laws of Canada. Any statement in this press release that
is not a statement of historical fact may be deemed to be a
forward-looking statement. When used in this press release, the
words “believe”, “could”, “should”, “intend”, “expect”, “estimate”,
“assume” and other similar expressions are generally intended to
identify forward-looking statements. It is important to know that
the forward-looking statements in this document describe the
Corporation’s expectations as at the date hereof, which are not
guarantees of future performance of Savaria or its industry, and
involve known and unknown risks and uncertainties that may cause
Savaria’s or the industry’s outlook, actual results or performance
to be materially different from any future results or performance
expressed or implied by such statements. The Corporation’s actual
results could be materially different from its expectations if
known or unknown risks affect its business, or if its estimates or
assumptions turn out to be inaccurate.
A change affecting an assumption can also have
an impact on other interrelated assumptions, which could increase
or diminish the effect of the change. As a result, the Corporation
cannot guarantee that any forward-looking statement will
materialize and, accordingly, the reader is cautioned not to place
undue reliance on these forward-looking statements. Forward-looking
statements do not take into account the effect that transactions or
special items announced or occurring after the statements are made
may have on the Corporation’s business. For example, they do not
include the effect of sales of assets, monetizations, mergers,
acquisitions, other business combinations or transactions, asset
write-downs or other charges announced or occurring after
forward-looking statements are made.
Unless otherwise required by applicable
securities laws, Savaria disclaims any intention or obligation to
update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise. The
foregoing risks and uncertainties include the risks set forth under
“Risks and Uncertainties” in Savaria’s latest Annual MD&A as
well as other risks detailed from time to time in reports filed by
Savaria with securities regulators in Canada.
For further information: |
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Marcel BourassaPresident and Chief Executive
Officer1.800.661.5112mbourassa@savaria.com |
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