Walter Financial sells shares of Logistec Corporation
Walter Financial Inc., a private company controlled by Mr. Pierre Somers, announced today that it has entered into an agreement pursuant to which National Bank Financial Inc. and GMP Securities L.P. will purchase for resale 600,000 class B subordinate voting shares of Logistec Corporation (“Logistec”) held by Walter Financial (the “Secondary Sale”).
Following the closing of the Secondary Sale, which is expected to occur on or about June 13, 2014, Walter Financial will hold (i) 244,100 class B subordinate voting shares, representing approximately 9.3% of the issued and outstanding class B subordinate voting shares, (ii) 515,300 class A common shares, representing approximately 13.8% of the issued and outstanding class A common shares, and (iii) approximately 13.7% of the total voting rights attached to all outstanding shares of Logistec.
Walter Financial is completing the Secondary Sale to rebalance its investment portfolio and will continue to review its holdings in Logistec from time to time and may, depending on market and other conditions, increase or further decrease its position in Logistec as it may determine appropriate for investment purposes.
For further information, contact:
- Walter Financial Inc. René Fournier, Chief Investment Officer
- 514 932-3898
- 1 Westmount Square, Suite 1850
- Westmount, QC, H3Z 2P9