TORONTO, April 24 /CNW/ - Jovian Capital Corporation ("Jovian") (JVN:
TSX-V) is pleased to announce that its wholly-owned investment dealer
subsidiary MGI Securities Inc. ("MGI") has created an Equity Plan (the "Plan")
for employees. The purpose of the Plan is to attract and retain key
professionals. Under the Plan, such employees will be eligible to purchase, in
the aggregate, up to 30% of the outstanding common shares of MGI.
"MGI management feels that this is an important step in continuing to
grow the company," said Lewis Reford, President and C.E.O. of MGI. "When
competing against the large brokerage firms, you need to constantly look for
creative new ways to attract and retain talent, and we think this Equity Plan
will allow us to do just that."
Philip Armstrong, President and C.E.O. of Jovian, added, "We believe that
this Plan is in the best interests of Jovian and its shareholders. By allowing
key MGI employees to have an equity stake in their company, you provide
incentive and motivation to those people in a way that simply can't be
achieved through ordinary compensation. The importance of this in the
highly-competitive world of investment dealers can't be overstated."
The Plan is subject to regulatory and other approvals.
About MGI Securities Inc.
Established in 2000, MGI Securities is a full-service investment dealer
firm, providing a comprehensive range of specialized services for
institutional investors and wealth management solutions for individual
investors. With offices in Toronto, Winnipeg, Calgary and London, Ontario,
MGI Securities employs more than 60 retail brokers and capital markets
About Jovian Capital Corporation
Jovian is a publicly-traded company listed on the TSX Venture Exchange
(JVN). Jovian is a management and holding company with interests in a variety
of financial service firms specializing in wealth(*) and asset(xx) management.
The Jovian group of companies operates as a national financial services
organization with approximately $13.5 billion of client assets ($4.9 billion
in assets under management and $8.6 billion in assets under administration).
(*) Wealth management entities include Convoy Capital Corporation, JovFunds
Inc., MGI Securities Inc., MGI Securities (USA) Inc. and Rice Financial Group
Inc. (xx) Asset management entities include Accumulus Management Ltd., BetaPro
Management Inc., Charterhouse PSI Management Corporation, DOCP Management
Corp., Horizons Funds Inc., Jove Investment Management Inc., JovFunds
Management Inc., Jovian Asset Management Inc., Leon Frazer & Associates Inc.,
Pescara Partners Inc., Taliesin Capital Inc., T.E. Wealth. Financial corporate
service entities include Felcom Data Services Inc. and Services Felcom Data
(Quebec) Inc./Felcom Data Services (Quebec) Inc.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; or Philip Armstrong, President & Chief
Executive Officer, Jovian Capital Corporation, (416) 933-5752. Additional
information relating to Jovian is available at www.sedar.com and