SAMSys special warrants acquired by OTPP
SAMSys Technologies Inc SMY
Shares issued 28,725,898 Oct 14 close $1.57
Wed 15 Oct 2003 News Release
Ms. Debra Hanna of the Ontario Teachers' Pension Plan reports
ONTARIO TEACHERS' PENSION PLAN BOARD INVESTS IN SAMSYS TECHNOLOGIES INC.
Ontario Teachers' Pension Plan has, in a private transaction, acquired
ownership and control of three million special warrants of SAMSys
Technologies. Upon exercise, each special warrant will entitle OTPP to
acquire, for no additional consideration, one common share and one-half of
one common share purchase warrant of SAMSys. Pursuant to Section 90(1) of
the Securities Act (Ontario) and similar provisions of the securities
legislation of other provinces, OTPP is deemed to have acquired beneficial
ownership of 4.5 million common shares of SAMSys or approximately 12.8 per
cent of the common shares based on OTPP's understanding of the outstanding
common shares.
Immediately after the transaction, OTPP is deemed to beneficially own (as
described in Subsection 90(1) of the Securities Act (Ontario)) 4.5 million
common shares of SAMSys, representing beneficial ownership of approximately
12.8 per cent of the outstanding common shares.
The special warrants were acquired in the ordinary course of business for
investment purposes only. In fulfilling its responsibilities as an owner of
securities, OTPP may make its views known to SAMSys management when proxies
are solicited and on other occasions.
Depending on market conditions and other factors that OTPP may consider
material, additional special warrants, common shares, debentures, options
or other derivative securities related to the securities currently owned by
OTPP may be purchased on the open market or in private transactions.
Similarly, special warrants, common shares, debentures, options or other
derivative securities related to the securities currently owned by OTPP (or
hereafter acquired) may be sold on the open market or in private
transactions.
OTPP is one of Canada's largest financial institutions with net assets as
of June 30, 2003, of $68.2-billion. With a solid track record of investment
in Canada and worldwide, OTPP has achieved a 10.6-per-cent average rate of
return since its investment program began in 1990. OTPP invests to secure
the retirement income of approximately 154,000 elementary and secondary
school teachers and 93,000 retired teachers and their families. The pension
plan is co-sponsored by the Ontario government and the plan members who are
represented by the Ontario Teachers' Federation. Further information can be
found on OTPP's Web site at www.otpp.com.
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