Westaim (WED-V) executives acquire 307.8 million shares - BNN.ca Market Call tonite (03/09/2013 at 1800ET) caller hint something may be brewing?
Aug 16, 2013 - News Release
Ian W. Delaney, J. Cameron MacDonald and Robert. T. Kittel have directly or indirectly acquired an aggregate of 307.8 million common shares of The Westaim Corp. from 1523488 Alberta Ltd. and Her Majesty the Queen, in right of the province of Alberta (HMQ). The investment portfolios of Holdco and HMQ are managed by the Alberta Investment Management Corp. (AIMCo). The shares acquired by the executives represent approximately 44.3 per cent of the total number of issued and outstanding shares, and were acquired at a price of three cents per share.Mr. Delaney, a director and chairman of the board of Westaim, directly acquired an aggregate of 162.8 million shares from Holdco. Prior to this acquisition, Mr. Delaney beneficially owned or exercised control or direction over a total of 16,642,866 shares, and had options to acquire an additional 300,000 shares. Accordingly, following the acquisition, Mr. Delaney beneficially owns or exercises control or direction over a total of 179,442,866 shares, and has options to acquire an additional 300,000 shares. Assuming the exercise in full of the options, Mr. Delaney will beneficially own or exercise control or direction over a total of 179,742,866 shares, representing approximately 25.84 per cent of the total number of issued and outstanding shares (following the exercise of the options).
Mr. MacDonald, president, chief executive officer and a director of Westaim, indirectly acquired direction and control over an aggregate of 120 million shares from Holdco. Prior to this acquisition, Mr. MacDonald, together with one or more joint actors, beneficially owned or exercised control or direction over a total of 17,844,996 shares. Accordingly, following the acquisition, Mr. MacDonald, together with one or more joint actors, beneficially owns or exercises control or direction over a total of 137,844,996 shares, representing approximately 19.83 per cent of the total number of issued and outstanding shares (assuming no exercise of the options held by Mr. Delaney).
Mr. Kittel, chief operating officer of Westaim, indirectly acquired direction and control over an aggregate of 23.2 million shares from Holdco and 1.8 million shares from HMQ. Prior to this acquisition, Mr. Kittel, together with one or more joint actors, beneficially owned or exercised control or direction over a total of 8,935,895 shares. Accordingly, following the acquisition, Mr. Kittel, together with one or more joint actors, beneficially owns or exercises control or direction over a total of 33,935,895 shares, representing approximately 4.88 per cent of the total number of issued and outstanding shares (assuming no exercise of the options held by Mr. Delaney).
The shares were acquired by the executives for investment purposes. The executives, or either one of them, may from time to time acquire additional securities of Westaim, dispose of some or all of the existing or additional securities they hold or will hold, or may continue to hold their current positions.
Reports respecting the acquisitions by Mr. Delaney and Mr. MacDonald will be filed as required by applicable Canadian securities laws, and a copy of such reports may be obtained by contacting Jeff Sarfin, the chief financial officer of Westaim, at 416-203-2253. |
