MONTREAL, Nov. 29, 2013 /CNW Telbec/ - Fiera Capital Corporation
("Fiera") announced today that DJM Capital Inc., an entity indirectly
owned as to 80% by Jean-Guy Desjardins, Chairman of the Board of
Directors and Chief Executive Officer of Fiera, and as to 20% by
entities controlled by Jean C. Monty, a director of Fiera, has agreed
to transfer beneficial ownership of 1,023,294 Class B special voting
shares of Fiera ("Class B Shares") to Desjardins Financial Corporation
inc., a subsidiary of Desjardins Group, and certain employees of Fiera.
The transactions are effected in the context of personal financial
planning by Messrs. Desjardins and Monty.
Mr. Desjardins' investment in Fiera continues to comprise a significant
portion of his personal net worth and he has reiterated his personal
commitment to leading Fiera's growth strategy in his capacity as
Chairman of the Board and Chief Executive Officer. Mr. Monty will
continue to act as a director of Fiera.
Pursuant to existing pre-emptive rights under the partnership agreement
governing Fiera Capital L.P., securities of Fiera Capital L.P. and
related entities will be sold by DJM Capital Inc. to Desjardins
Financial Corporation inc. and to certain employees of Fiera, representing beneficial ownership of
1,000,000 Class B Shares and 23,294 Class B Shares, respectively.
"Our investment is a clear indication of our support for this company
and its management, as well as their ability to pursue its ambitious
growth strategy", said Monique F. Leroux, Chair of the Board, President
and CEO of Desjardins Group. "We are proud to have been behind the
creation of this investment management firm, now the third largest in
Following completion of the transactions which do not entail the
disposition of Class B Shares by Fiera Capital L.P., Fiera Capital L.P.
will remain the registered owner of 20,950,684 Class B Shares and
146,645 Class A subordinate shares of Fiera ("Class A Shares"),
representing 100% of the issued and outstanding Class B Shares and
approximately 31.31% of the total issued and outstanding Class A Shares
and Class B Shares. Fiera Holdings Inc., in its capacity as general
partner of Fiera Capital L.P., decides how to vote the Fiera shares
held by the limited partnership. Fiera Holdings Inc. is indirectly
controlled by Mr. Desjardins.
Following completion of the transactions, Mr. Desjardins will
beneficially own 7,195,714 Class B Shares, representing approximately
34.35% of the issued and outstanding Class B Shares and approximately
10.68% of the total issued and outstanding Class A Shares and Class B
Shares. The transactions will be effected at a price determined in
accordance with the partnership agreement governing Fiera Capital L.P.
and equivalent to $13.6645 per Class B Share.
This document may contain certain forward-looking statements. These
statements relate to future events or future performance, and reflect
management's expectations or beliefs regarding future events. Such
forward-looking statements reflect management's current beliefs and are
based on information currently available to management. In some cases,
forward-looking statements can be identified by terminology such as
"may", "will", "should", "expect", "plan", "anticipate", "believe",
"estimate", "predict", "potential", "continue", "target", "intend" or
the negative of these terms, or other comparable terminology.
By their very nature, forward-looking statements involve inherent risks
and uncertainties, both general and specific, and a number of factors
could cause actual events or results to differ materially from the
results discussed in the forward-looking statements. In evaluating
these statements, readers should specifically consider various factors
that may cause actual results to differ materially from any
These factors include, but are not limited to, market and general
economic conditions, the nature of the financial services industry, and
the risks and uncertainties detailed from time to time in Fiera's
interim and annual consolidated financial statements, and its Annual
Report and Annual Information Form filed on www.sedar.com. These forward-looking statements are made as of the date of this
document, and Fiera assumes no obligation to update or revise them to
reflect new events or circumstances.
About Fiera Capital Corporation
Fiera is a leading publicly traded, independent investment firm. The
Firm is one of only a handful of full service, multi-product investment
firms in Canada, offering clients a proven top tier track record in
equity and fixed income management as well as depth and expertise in
asset allocation and alternative investments. www.fieracapital.com
SOURCE: Fiera Capital Corporation
For further information:
Mélanie Tardif, CPA, CMA
Director, Corporate Communications and Investor Relations
Fiera Capital Corporation
1501 McGill College Avenue
Montréal, QC H3A 3M8