Michael O'Keeffe announces disposition of shares of Champion
ROZELLE, NSW, Australia, Dec. 9, 2020 /CNW Telbec/ - On December 8, 2020, Michael O'Keeffe, Executive Chairman of Champion Iron Limited ("Champion"), sold, through a holding company, an aggregate of 2,000,000 ordinary shares (the "Shares") of Champion (the "Disposition"), through the facilities of the Australian Securities Exchange (ASX) at an average price of A$5.05 per Share (corresponding to C$4.79 per Share based on the Bank of Canada exchange rate on December 8, 2020 of A$1.00 equals C$0.9493), for aggregate gross proceeds to Mr. O'Keeffe of A$10,100,000 (corresponding to C$9,587,930 based on the Bank of Canada exchange rate on December 8, 2020 of A$1.00 equals C$0.9493).
Immediately prior to the Disposition, Mr. O'Keeffe beneficially owned, directly and through holding companies, an aggregate of 47,023,830 Shares, representing 9.92% of the issued and outstanding Shares on a non-diluted basis. Immediately following the Disposition, Mr. O'Keeffe beneficially owns, directly and through holding companies, an aggregate of 45,023,830 Shares, representing 9.50% of the issued and outstanding Shares on a non-diluted basis. Mr. O'Keeffe does not own any securities which are convertible or exercisable into Shares within 60 days of the date hereof.
As Executive Chairman of the board of directors of Champion, Mr. O'Keeffe has been and will continue to be actively involved in the business, operations and strategic planning for Champion. The Shares beneficially owned by Mr. O'Keeffe are held for investment purposes. Mr. O'Keeffe intends to review on a continuing basis his investment in Champion and he may, depending on market and other conditions, increase or decrease his beneficial ownership of securities of Champion through market transactions, private agreements, public offerings or otherwise.
An early warning report relating to this transaction will be filed on SEDAR under Champion's profile at www.sedar.com. To obtain a copy of such report, please contact Mr. Michael Marcotte, Vice President, Investor Relations of Champion at 514-316-4858. Champion's head office is located at 1100 René-Lévesque Blvd. West, Suite 610, Montréal, QC H3B 4N4 and Mr. O'Keeffe's address is 91 Evans Street, Rozelle, NSW 2039, Australia.
SOURCE Michael O’Keeffe
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