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 the country."
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 forward-looking statement.
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
Image with caption: "Fiera Capital Corporation (CNW Group/Fiera Capital Corporation)". Image available at: http://photos.newswire.ca/images/download/20131129_C6485_PHOTO_EN_34149.jpg
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