January 8, 1997: Knight, Bain, Seath & Holbrook Capital Management Inc.
Knight, Bain, Seath & Holbrook Capital Management Inc. (''KBSH'') today announced that the aggregate shares of
Patheon Inc. held on behalf of its client accounts as at December 31, 1997, was 4,172,200 common shares,
representing approximately 12.09% of all outstanding shares of that class. The shares were acquired through the
facilities of a stock exchange in the ordinary course of business. All transactions were for investment purposes only
and not for the purpose of exercising control or direction over Patheon Inc. KBSH specifically disclaims any
beneficial ownership of the reported shares, but as investment manager it maintains exclusive power to exercise
investment control or direction over such shares for its client accounts.
KBSH client accounts may from time to time acquire additional shares, dispose of some or all of the existing or
additional shares or may continue to hold the same number of common shares.
This press release and the related early warning report are issued in accordance with the proposed alternative system
respecting Early Warning Reporting. Neither KBSH nor any of its client accounts presently intend to:
a) make a formal take-over bid for shares of Patheon Inc.;
b) propose a transaction that would constitute a take-over bid in reliance on an exemption in the Securities Act
(Ontario) or the equivalent provisions in the securities legislation of any other jurisdiction; or
c) propose a reorganization, amalgamation, merger, arrangement or similar business combination with Patheon Inc.
which would result in KBSH's client accounts controlling the company, alone or jointly with others.
To the best of its knowledge, KBSH and its client accounts do not in the ordinary course of business receive material
facts or changes about Patheon Inc. which have not been publicly disclosed.
For further information: Peter Pennal, Vice-President & Secretary/Treasurer, Knight, Bain, Seath & Holbrook Capital
Management Inc., 1 Toronto Street, Suite 708, Toronto, Ontario M5H 2V6, Telephone: (416) 863-1433 |
