Premier Tech

Premier Tech

December 08, 2009 18:19 ET

Premier Tech Ltd Acquires Additional Units of Sun Gro Horticulture Income Fund

RIVIERE-DU-LOUP, QUEBEC--(Marketwire - Dec. 8, 2009) - Premier Tech Ltd. ("Premier Tech") today announced that it acquired between November 23, 2009 and December 8, 2009, through the facilities of the Toronto Stock Exchange, an aggregate of 475 000 trust units (the "Purchased Units") of Sun Gro Horticulture Income Fund (the "Trust").

The Purchased Units were purchased in a series of transactions through the facilities of the Toronto Stock Exchange, at an average price of $3.72 per Unit.

As of December 8, 2009, the Purchased Units, together with 4 895 990 trust units already owned and controlled by Premier Tech and 10 trust units owned and controlled by a joint actor of Premier Tech, being Gestion Bernard Belanger ltee, represented 21.97% of the outstanding trust units of the Trust. Premier Tech acquired the Purchased Units for investment purposes, but reserves its rights to increase or decrease its holdings in the Trust at any time by acquiring or disposing of trust units in the open market, by private agreement or otherwise.

Premier Tech relied on the exemption from the take-over bid requirements provided for by Section 4.1 of Regulation 62-104 - Take-Over Bids and Issuer Bids ("Regulation 62-104") considering that the bid is for no more than 5% of the outstanding Units, the aggregate number of Units acquired in reliance on this exemption by Premier Tech and any person acting jointly or in concert with Premier Tech within any period of 12 months, when aggregated with acquisitions otherwise made by Premier Tech and any person acting jointly or in concert with Premier Tech within the same 12-month period, does not exceed 5% of the Units outstanding at the beginning of the 12-month period, there is a published market for the Units and the value of the consideration paid for the Purchased Units is not in excess of the market price at the date of acquisition, as determined in accordance with Regulation 62-104, plus reasonable brokerage fees or commissions actually paid.

Corporate Profile

For over 85 years, Premier Tech has been building its know-how and reputation on the expertise and synergy of its business units, structured around three groups - Horticulture and Agriculture, Industrial Equipment and Environmental Technologies. Our businesses have the mission to become technological and commercial leaders in their respective industries. Driven by a multidisciplinary team of over 1 700 people located in the Americas, Europe and Asia, Premier Tech focuses on the development of its team members, on Innovation, and on the introduction of value-added products and services to support its long-term growth.

Contact Information

  • Premier Tech
    Lynn Maurais
    Corporate Office Director
    418-867-8883 Ext. 6336
    418-862-6642 (FAX)