BRAMPTON, ON, Aug. 27 /CNW/ - James J. Patton, the Chairman, President and Chief Executive Officer of Norwall Group Inc. ("Norwall"), announced today that he has filed an early warning report updating and clarifying his shareholdings in Norwall.
As disclosed in Mr. Patton's SEDI filings, between November 29, 2006 and December 12, 2008, Mr. Patton acquired beneficial ownership of an aggregate of 275,662 common shares in the capital of Norwall ("Norwall Shares") pursuant to five market purchases (the "Market Purchases") and one subscription in a private placement of Norwall Shares from treasury. Further, on September 25, 2007, Mr. Patton disposed of 602,600 Norwall Shares by way of a gift, following which Mr. Patton beneficially owned 1,478,478 Norwall Shares (representing approximately 20.7% of the then issued and outstanding Norwall Shares). On November 24, 2008, Mr. Patton acquired 602,600 Norwall Shares by way of a gift, following which Mr. Patton beneficially owned 2,129,678 Norwall Shares (representing approximately 29.9% of the then issued and outstanding Norwall Shares).
As at the date hereof, Mr. Patton beneficially owns 2,134,678 Norwall Shares, representing approximately 29.9% of the issued and outstanding Norwall Shares.
Mr. Patton made the above-noted acquisitions for investment purposes. He may decide to acquire additional Norwall Shares in the future but has no specific intention to do so at this time.
Mr. Patton made the Market Purchases in reliance upon either the normal course purchase or private agreement exemption set forth in section 100 and 100.1, respectively, of the Securities Act (Ontario).
SOURCE NORWALL GROUP INC.
For further information: For further information: (and to obtain a copy of the early warning report prepared by Mr. Patton in accordance with Canadian securities laws), please contact James J. Patton, 104 Regatta Drive, Jupiter, Florida, 33477, by phone at (905) 791-2700 or via email at email@example.com