MTY President Updates Early-Warning Report

0

MONTREAL — Stanley Ma, the founder, president and Chairman of the Board of MTY Food Group Inc., has filed a notice of intention to distribute securities in connection with his proposed sale of up to 880,000 common shares of MTY.

In connection therewith, Ma has filed an early-warning report with respect to his shareholdings in MTY. The Common Shares are proposed to be sold by Ma for personal reasons, for estate-planning purposes and in support of philanthropic endeavors.

As of April 12, 2021, Ma beneficially owns and controls 764,034 common shares (representing 3.09 per cent of the issued and outstanding common shares); controls 446,500 common shares beneficially owned by 3148785 Canada Inc. (representing 1.81 per cent of the issued and outstanding common shares); controls 600,000 common shares beneficially owned by The Ma Family Holdings Inc. (representing 2.43 per cent of the issued and outstanding common shares); and controls 3,075,109 common shares beneficially owned by 11625306 Canada Inc. (representing 12.45 per cent of the issued and outstanding common shares), representing in aggregate 4,885,643 common shares (or 19.77 per cent of the issued and outstanding common shares).

Ma is, and will continue to be, the largest shareholder of MTY and will remain in his current role of president and Chairman of the Board.

This site uses Akismet to reduce spam. Learn how your comment data is processed.