Benvest Intends to Dispose of Shares of New Look Vision Group Inc.
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES/
MONTREAL, March 19, 2021 /CNW Telbec/ - Benvest Holdings Limited ("Benvest") acting jointly with Bennett Church Hill Capital Inc. ("Bennett Church") and W. John Bennett, intends to dispose of Class A common shares ("Shares") of New Look Vision Group Inc. ("New Look Vision") pursuant to a transaction whereby New Look Vision has entered into an arrangement agreement (the "Arrangement Agreement") to be acquired by NL1 Acquireco Inc. (the "Purchaser"), an entity created by a group composed of funds managed by FFL Partners, LLC, a San Francisco-based private equity firm, Caisse de dépôt et placement du Québec, and the Dr. H. Doug Barnes Family (the "Transaction").
Pursuant to the Transaction, W. John Bennett, the Chairman of the Board of New Look Vision, has agreed to roll-over 400,000 of his Shares, held by Bennett Church ("Rollover Shares") for shares in the capital of the Purchaser and intends to dispose of the remaining Shares he owns to the Purchaser.
Both before and after the execution of the Arrangement Agreement, Benvest held 4,814,200 Shares representing 30.74% of New Look Vision's 15,660,199 issued and outstanding Shares. Both before and after the execution of the Arrangement Agreement, Benvest, Bennett Church and W. John Bennett own, directly or indirectly, an aggregate of 5,461,344 Shares representing 34.87% of New Look Vision's 15,660,199 issued and outstanding Shares.
Benvest, Bennett Church and W. John Bennett intend to dispose of the Shares pursuant to the Transaction for cash, with the exception of the Rollover Shares which will be disposed of in exchange for shares of the Purchaser.
The head office address of New Look Vision is 1 Place Ville Marie, suite 3670, Montréal, Québec H3B 3P2.
SOURCE Benvest Holdings Limited
or to obtain a copy of the Early Warning Report filed by Benvest, please contact Lise Melanson (514) 877-4299, ext. 2234.
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