MONTREAL, QUEBEC -- (Marketwired) -- 06/27/17 -- On June 27, David Brereton, Executive Chairman of TECSYS Inc. ("TECSYS") and Kathryn Ensign-Brereton, his spouse, disposed of an aggregate of 333,000 common shares ("Shares") of TECSYS at a price of $15.00 per Share pursuant to a previously announced bought-deal secondary offering of Shares (the "Secondary Offering") qualified under a short form prospectus dated June 19, 2017 ("Prospectus").
Of the Shares disposed, (i) 266,400 Shares were sold by Mr. Brereton; (ii) 33,300 Shares were sold by Mr. Brereton's holding company, Dabre Inc. ("Dabre") and (iii) 33,300 Shares were sold by Ms. Ensign-Brereton.
Immediately prior to the Secondary Offering, Mr. Brereton beneficially owned, directly and through Dabre, an aggregate of 2,769,338 Shares, and Ms. Ensign-Brereton, 1,107,402 Shares. Together, they beneficially owned an aggregate of 3,876,740 Shares, representing 31.48% of the 12,315,326 then issued and outstanding Shares.
Following the Secondary Offering, Mr. Brereton beneficially owns an aggregate of 2,469,638 Shares, and Ms. Ensign-Brereton beneficially owns 1,074,102 Shares. Together, they beneficially own an aggregate of 3,543,740 Shares, representing 27.09% of the 13,082,376 issued and outstanding Shares, or a decrease of 4.39% taking into account the Secondary Offering and the concurrent offering by TECSYS of 767,050 Shares from treasury under the Prospectus.
As Executive Chairman of the board of directors and the largest shareholder of TECSYS, Mr. Brereton is and will continue to be actively involved in TECSYS' business. The Shares beneficially owned by Mr. Brereton and Ms. Ensign-Brereton are held for investment purposes. Each of them intends to review on a continuing basis his or her investment in TECSYS. Either of them may, depending on market and other conditions, increase or decrease his or her beneficial ownership of securities of TECSYS through market transactions, private agreements, public offerings or otherwise.
An early warning report relating to this transaction will be filed on SEDAR under TECSYS' profile at www.sedar.com. To obtain a copy of such report, please contact Mr. Steve Li at (514) 866-5800.
David Brereton TECSYS Inc. 26 Maple Avenue 1 Place Alexis-Nihon, Suite 800 Sainte-Anne-de-Bellevue, Quebec Montreal, Quebec Canada H9X2E6 Canada H3Z 3B8
Mr. Steve Li