David Brereton and joint actor announce amendments to automatic securities disposition plan and donation of Tecsys shares

MONTRÉAL, July 2, 2025 /CNW/ - On June 30, 2025, David Brereton, Executive Chairman of Tecsys Inc. ("Tecsys") and Ms. Kathryn Ensign-Brereton, Mr. Brereton's spouse, amended the terms of the automatic securities disposition (the "ASDP") established in October 2024 to provide that from the date of the amendment and until the termination of the ASDP, out of the common shares of Tecsys (the "Shares") to be disposed of pursuant to the ASDP (the "Subject Shares"): (i) 60% of the Subject Shares held by Mr. Brereton, directly and through his holding company, Dabre Inc. ("Dabre"), will be sold and 40% will be donated, and (ii) 100% of the Subject Shares held by Ms. Ensign-Brereton will be donated. The other terms of the ASDP as set out in the news release of Tecsys dated October 16, 2024 remain unchanged.

In addition, on July 2, 2025, Ms. Kathryn Ensign-Brereton donated an aggregate of 50,000 Shares (the "Donation").

Immediately prior to the Donation, Mr. Brereton beneficially owned, directly and through Dabre, an aggregate of 849,638 Shares, and options (the "Options") to purchase 88,375 Shares pursuant to Tecsys' stock option plan, and Ms. Ensign-Brereton beneficially owned 891,502 Shares. Together, they beneficially owned an aggregate of 1,741,140 Shares and Options to purchase 88,375 Shares, representing 11.74% of the 14,836,120 issued and outstanding Shares on a non-diluted basis, and 12.26% of the issued and outstanding Shares on a partially-diluted basis, assuming exercise of the Options held by Mr. Brereton only.

Following the Donation, Mr. Brereton beneficially owns, directly and through Dabre, an aggregate of 849,638 Shares and Options to purchase 88,375 Shares, and Ms. Ensign-Brereton beneficially owns 841,502 Shares. Together, they beneficially own an aggregate of 1,691,140 Shares and Options to purchase 88,375 Shares, representing 11.40% of the 14,836,120 issued and outstanding Shares on a non-diluted basis, and 11.92% of the issued and outstanding Shares on a partially-diluted basis, assuming exercise of the Options held by Mr. Brereton only.

As Executive Chairman of the board of directors and, together with Ms. Ensign-Brereton, the largest shareholder of Tecsys, Mr. Brereton is and will continue to be actively involved in Tecsys' business. The Shares beneficially owned by Mr. Brereton and Ms. Ensign-Brereton are held for investment purposes. Each of them intends to review on a continuing basis his or her investment in Tecsys and may, depending on market and other conditions, increase or decrease his or her beneficial ownership of securities of Tecsys through market transactions, private agreements, public offerings or otherwise.

An early warning report relating to this transaction will be filed on SEDAR+ under Tecsys' profile at www.sedarplus.ca. To obtain a copy of such report, please contact Ms. Sandra Spackman at [phone].

SOURCE David Brereton