MONTREAL, Oct. 12, 2012 /CNW Telbec/ - Jane Silverstone Segal, the Chairman and Chief Executive Officer of Le Château Inc. (TSX: CTU.A) ("Le Château") announced today that she acquired beneficial ownership of, and control and direction over, 50,600 Class A subordinate voting shares of Le Château ("Class A Shares"). The 50,600 acquired Class A Shares were acquired for investment purposes and purchased through the facilities of the Toronto Stock Exchange at an average purchase price of $3.98 per acquired Class A Share.
With this acquisition and previous acquisitions of Class A Shares, the number of Class A Shares beneficially owned and over which control and direction is exercised by Ms. Silverstone Segal increased by 2.0% since acquisitions of Class A Shares were last reported by Ms. Silverstone Segal on September 19, 2008.
Ms. Silverstone Segal currently beneficially owns and exercises control and direction over, in aggregate, 5,489,300 Class A Shares representing approximately 24.2% of the issued and outstanding Class A Shares, 160,000 Class B voting shares of Le Château ("Class B Shares"), representing approximately 3.51% of the issued and outstanding Class B Shares, and options to purchase 430,000 Class A Shares. Ms. Silverstone Segal may, in the ordinary course, acquire additional securities of the Corporation or otherwise trade in securities of the Corporation for investment purposes.
Ms. Silverstone Segal relied on the exemption set forth in section 4.1 of Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids ("MI 62-104") as: (i) the acquired Class A Shares represent not more than 5% of the issued and outstanding Class A Shares; (ii) the aggregate number of Class A Shares acquired in reliance on such exemption by Ms. Silverstone Segal or any person acting jointly or in concert with Ms. Silverstone Segal within any 12-month period, when aggregated with acquisitions otherwise made by Ms. Silverstone Segal and any person acting jointly or in concert with Ms. Silverstone Segal within the same 12-month period, represent not more than 5% of the issued and outstanding Class A Shares at the beginning of such 12-month period; (iii) there is a published market for the Class A Shares; and (iv) the value of the consideration paid for any of the acquired Class A Shares is not in excess of the market price at the date of acquisition, as determined in accordance with section 1.11 of MI 62-104, plus reasonable brokerage fees or commissions actually paid.
This press release is issued pursuant to the early warning requirements of applicable Canadian securities laws which also requires an early warning report to be filed on SEDAR containing additional information with respect to the foregoing matters.
SOURCE: LE CHATEAU INC.
For further information:
or a copy of the early warning report, please contact Johnny Del Ciancio, Vice-President, Finance, LE CHATEAU INC., at 514-738-7000 or visit www.sedar.com.