Garda World Security Corporation

Garda World Security Corporation

May 12, 2006 10:56 ET


MONTREAL, CANADA--(CCNMatthews - May 12, 2006) -

This news release is not for distribution to United States newswire services or for dissemination in the United States.

Garda World Security Corporation (TSX:GW) announces that Stephan Cretier, its President and Chief Executive Officer, and Fiducie Kendoza, of which Stephan Cretier is the designated trustee, have completed their previously-announced bought deal secondary private placement of 1,000,000 special warrants at a price of $25.00 per special warrant, for aggregate gross proceeds to the two selling shareholders of $25 million. Each of the special warrants was exchanged at closing for one freely-tradeable Class A share of Garda. The 1,000,000 Class A shares were delivered by the two selling shareholders.

Following the placement, Stephan Cretier and Fiducie Kendoza own or control, directly or indirectly, an aggregate of 6,386,889 Class A shares of Garda, representing 24.5% of the outstanding shares.

The secondary private placement was made through a syndicate of underwriters led by GMP Securities L.P., and including BMO Nesbitt Burns Inc., Desjardins Securities Inc. and Dundee Securities Corporation.

There are 26,059,647 Class A shares of Garda currently issued and outstanding. In addition Garda has undertaken to file a short form prospectus in order to qualify the distribution of 4.5 million Class A shares issuable upon the exercise of 4.5 million special warrants that were issued and sold by Garda on March 30, 2006. In the event that Garda does not obtain receipts for a final prospectus from the provincial securities commissions by June 1, 2006, each special warrant will be exchangeable for 1.1 Class A shares, instead of one Class A share.

About Garda

Garda is well known in addressing complex security and investigations issues. As a well-established leading provider in security services, Garda is recognized as one of the fastest growing companies in North America, with offices from coast-to-coast in Canada, as well as in the United States, Mexico and Europe. With a team of 19,000 employees, Garda offers integrated solutions in cash handling, physical security, consulting and investigations, and pre-employment screening. Its team includes specialists and some of the most highly qualified and best-trained professionals in the industry. For more information:

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Contact Information

  • Garda World Security Corporation
    Nathalie de Champlain
    Vice-President, Communications
    (514) 281-2811 ext. 2800 or (800) 859-1599 ext. 2800
    Cell: (514) 830-2800
    Morin Public Relations
    Laird Greenshields
    (514) 289-8688
    Cell: (514) 712-3252