Inscape Corporation
TSX : INQ

Inscape Corporation

January 11, 2008 17:00 ET

INSCAPE Corporation Announces Controlling Shareholder to Donate Shares to Family Trust

HOLLAND LANDING, ONTARIO--(Marketwire - Jan. 11, 2008) - Peter Brunelle, President and Chief Executive Officer of INSCAPE CORPORATION (TSX:INQ) announces that INSCAPE has been informed by Bhayana Management Ltd., a company controlled by Mr. Madan Bhayana, Chairman of the Board of INSCAPE, that Bhayana Management Ltd. intends to donate up to 1,456,000 Class B subordinate voting shares of INSCAPE, with an initial transfer of 400,000 shares to The Madan and Raksha M. Bhayana Family Foundation.

After the initial donation of 400,000 Class B subordinate voting shares, Mr. Bhayana will directly or indirectly own 5,345,881 Class A multiple voting shares and 1,120,000 Class B subordinate voting shares. Upon completion of this donation of 1,456,000 Class B subordinate voting shares, Mr. Bhayana will directly or indirectly own 5,345,881 Class A multiple voting shares and 64,000 Class B subordinate voting shares. INSCAPE has been informed that at this time Mr. Bhayana and Bhayana Management Ltd. have no further intentions to dispose of any additional shares.

It is INSCAPE's understanding that these shares will be sold by The Madan and Raksha M. Bhayana Family Foundation into the market from time to time.

Form 45-102F1 Notice of Intention to Distribute Securities under Section 2.8 of MI 45-102 Resale of Securities has been filed on SEDAR in connection with this donation.

Forward-Looking Statements

This news release may include forward-looking statements that involve risks and uncertainties and cannot be relied upon due to, among other things, changing external circumstances. Actual results could differ materially from those anticipated in such statements as a result of many factors.

About INSCAPE

INSCAPE Corporation is a leading designer, manufacturer and distributor of high quality office furniture headquartered in Holland Landing, Ontario, Canada. The Company offers innovative and integrated product solutions that effectively and efficiently landscape modern office interiors, including movable walls, systems and storage products. Company operations are based across two manufacturing facilities totaling approximately 485,000 square feet.

Contact Information

  • Inscape Corporation
    Kent Smallwood, CA
    Chief Financial Officer
    (905) 836-7676
    (905) 836-5037 (FAX)
    Website: www.inscapesolutions.com