/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSIRE SERVICES AND NOT FOR
DISSEMINIATON IN THE UNITED
STATES/
MONTREAL, March 22,
2023 /CNW/ - Mr. Paul
Raymond, President and Chief Executive Officer of Alithya
Group inc. ("Alithya"), filed today an early warning
report with respect to his holding of Class B multiple voting
shares ("Class B Shares") of Alithya, as required by
applicable securities laws.
On March 22, 2023, Mr. Raymond
acquired 152,632 Class B Shares of Alithya pursuant to the exercise
of 152,632 options to purchase Class B Shares that were set to
expire on March 31, 2023 (the
"Exercise"). The options originate from options granted
prior to the date Alithya went public and which were converted, on
substantially the same terms and conditions as were applicable
under the amended and restated 2011 stock option plan, into options
to acquire Class B Shares of Alithya on November 1, 2018. 100,000 options had an exercise
price of $2.46 per option and
52,632 options had an exercise price of $1.90 per option, for a total aggregate exercise
price of $346,000.80. Mr. Raymond
decided to fund the exercise price payable in connection with the
Exercise through available funds and not to avail himself of the
previously filed Form 45-102F1 – Notice of Intention to Distribute
Securities under Section 2.8 of NI 45-102 – Resale of
Securities, to sell Class A subordinate voting
shares ("Class A Shares"). As a result of the Exercise,
Mr. Raymond's voting rights, which were of 4.72%, increased to
5.63%.
On March 22, 2023, before
completion of the Exercise, a total of 7,171,616 Class B Shares and
87,889,081 Class A Shares were issued and outstanding. Mr. Raymond
beneficially owned and controlled 152,632 Class B Shares
(representing 2.13% of the issued and outstanding Class B Shares)
and he controlled, and Fiducie Direxions ("Direxions")
owned, 571,832 Class B Shares (representing 7.97% of the issued and
outstanding Class B Shares). This represented, in aggregate (the
"Total Class B Ownership"),
724,464 Class B Shares (representing 10.10% of the issued and
outstanding Class B Shares).
Following completion of the Exercise, 152,632 Class B Shares,
representing 2.08% of the issued and outstanding Class B Shares,
were issued to Mr. Raymond, resulting in a
Total Class B Ownership of 877,096 Class B Shares
(representing 11.98% of the issued and outstanding
Class B Shares).
In addition, Mr. Raymond beneficially owns and controls (a)
505,264 options to purchase Class B Shares (all of which
are vested) (the "Class B Options"),
(b) 297,691 Class A Shares (the "Total Class
A Ownership"), (c) 922,691 options to purchase
Class A Shares (of which 222,500 are vested (the "Vested Class A
Options") and 700,191 are unvested (collectively with the
Vested Class A Options, the "Class A Options")), (d)
61,437 restricted share units (all of which are vested, but
none of which will be settled within 60 days (the "RSUs")),
and (e) 259,839 performance share units (none of which
are vested (the "PSUs")).
Assuming (a) the exercise of the Class B Options, 505,264 Class
B Shares would be issued and the Total Class B Ownership would
increase to 1,382,360 Class B Shares (representing 17.66% of the
issued and outstanding Class B Shares) and, (b) the exercise of the
Vested Class A Options, 222,500 Class A Shares would be issued and
the Total Class A Ownership would increase to 520,191 Class A
Shares (representing 0.59% of the issued and outstanding Class A
Shares), and Mr. Raymond would control approximately 8.62% of
the total voting rights outstanding of Alithya (based on the number
of Class B Shares and Class A Shares issued and outstanding as of
the date hereof and after giving effect to the issuance of the
505,264 Class B Shares and 222,500 Class A Shares issuable under
the Class B Options and Vested Class A Options). Of such ownership
of 1,382,360 Class B Shares and 520,191 Class A Shares,
(i) Mr. Raymond would beneficially own and control 810,528
Class B Shares (representing 10.35% of the issued and
outstanding Class B Shares) and 520,191 Class A Shares
(representing 0.59% of the issued and outstanding Class A Shares)
and (ii) Mr. Raymond would control, and Direxions would own,
571,832 Class B Shares (representing 7.30% of the
issued and outstanding Class B Shares).
Assuming (a) the exercise of the Class B Options, 505,264 Class
B Shares would be issued and the Total Class B Ownership would
increase to 1,382,360 Class B Shares (representing 17.66% of the
issued and outstanding Class B Shares) and, (b) the exercise of the
Class A Options and settlement in full of the RSUs and PSUs,
1,243,967 Class A Shares would be issued and the Total Class A
Ownership would increase to 1,541,658 Class A Shares (representing
1.73% of the issued and outstanding Class A Shares), and
Mr. Raymond would control approximately 9.18% of the total
voting rights outstanding of Alithya (based on the number of Class
B Shares and Class A Shares issued and outstanding as of
the date hereof and after giving effect to the issuance of the
505,264 Class B Shares and 1,243,967 Class A Shares issuable under
the Class B Options, the Class A Options, the RSUs and the PSUs).
Of such ownership of 1,382,330 Class B Shares and 1,541,658 Class A
Shares, (i) Mr. Raymond would beneficially own and control
810,528 Class B Shares (representing 10.35% of the issued
and outstanding Class B Shares) and 1,541,658 Class A Shares
(representing 1.73% of the issued and outstanding Class A Shares)
and (ii) Mr. Raymond would control, and Direxions would own,
571,832 Class B Shares (representing 7.30% of the issued and
outstanding Class B Shares).
Mr. Raymond is a trustee of Direxions and has the sole power to
direct investments and vote the securities. Direxions may be
considered to be a joint actor with Mr. Raymond.
SOURCE Alithya