TORONTO, Dec. 30, 2013 /CNW/ - Smoothwater Capital Corporation (Smoothwater Capital) announced today that Smoothwater Capital Partners LP I (Smoothwater LP), a partnership controlled by Smoothwater Capital, has acquired an
additional 202,700 shares of Equity Financial Holdings Inc. (Equity), representing approximately 2.17% of the issued and outstanding shares
of Equity. Following such acquisitions, Smoothwater LP now holds an
aggregate of 1,304,900 shares, or 13.96% of the outstanding shares of
Equity. Smoothwater LP is the largest shareholder of Equity based on a
review of public filings.
As previously disclosed in its press releases dated November 11 and 13,
2013, Smoothwater LP intends to initiate or participate, alone or
together with joint actors, in all actions it deems necessary or
advisable to enhance the value of its investment in Equity. As
previously disclosed, Nick Kyprianou and Darryl Ivan may be considered
to be "joint actors" with Smoothwater LP as a result of the entering
into of support agreements with Smoothwater. Smoothwater LP, together
with Mr. Kyprianou and Mr. Ivan, has ownership of 1,566,017 shares
representing approximately 16.76% of the issued and outstanding shares.
Smoothwater LP and its affiliates may acquire additional shares through
open market purchases, private agreements or otherwise.
This news release is issued pursuant to the early warning requirements
of applicable Canadian securities laws. Smoothwater LP will file early
warning reports in accordance with applicable securities laws, copies
of which will be available on SEDAR at www.sedar.com or upon request to Smoothwater LP.
Smoothwater Capital Corporation focuses on investing in small to midcap
Canadian public companies where there is an identifiable path to
significantly improve shareholder value. Smoothwater works to effect
change in targeted companies, often collaboratively with institutional
and other like-minded investors who hold material positions but are not
able to take on the time consuming and costly activist role.
SOURCE: Smoothwater Capital Corporation
For further information:
For further information or to obtain a copy of an early warning report, please contact:
Smoothwater Capital Partners LP I
c/o Smoothwater Capital Corporation
120 Adelaide Street West
Attention: Stephen J. Griggs, Chief Executive Officer
Kingsdale Communications Inc.