Dominion and Anglo Investment Corporation Limited

December 15, 2015 11:25 ET

Dominion and Anglo Investment Corporation Limited Announces Acquisition of Common Shares of E-L Financial Corporation Limited

TORONTO, ONTARIO--(Marketwired - Dec. 15, 2015) - Dominion and Anglo Investment Corporation Limited ("Dominion and Anglo") announces that it acquired a further 80,000 Common Shares of E-L Financial Corporation Limited ("E-L Financial") (TSX:ELF) (TSX:ELF.PR.F) (TSX:ELF.PR.G) (TSX:ELF.PR.H), increasing its ownership from 1,302,323 (32.4%) of the Common Shares to 1,382,323 (34.39%) of the Common Shares. Dominion and Anglo has an informal understanding with other shareholders of E-L Financial under which they act in concert with respect to the voting of securities of E-L Financial held by them. The purchase increases the ownership of Dominion and Anglo and these other shareholders from 2,748,329 (68.38%) of the Common Shares to 2,828,329 (70.37%) of the Common Shares. The purchase was effected through the facilities of the Toronto Stock Exchange for consideration of $680.00 per share. The purchase, and Dominion and Anglo's holding of Common Shares of E-L Financial, are for investment purposes only. Dominion and Anglo may purchase further Common Shares from time to time, if in its judgment the shares represent a good investment in view of their price. Dominion and Anglo is relying on the exemption from the formal bid requirements set forth in section 100 of the Securities Act (Ontario). The normal course purchase exemption is available as Dominion and Anglo's purchase of 80,000 Common Shares (together with other purchases by Dominion and Anglo, and the other shareholders with which Dominion and Anglo acts in concert, in the preceding 12 months) did not exceed 5% of the outstanding Common Shares of E-L Financial; there is an established market for the Common Shares; and, the value of the consideration paid for the Common Shares will not exceed the market price, plus reasonable brokerage fees or commissions actually paid.

Contact Information

  • Mark M. Taylor
    Dominion and Anglo Investment Corporation Limited
    165 University Avenue, Tenth Floor
    Toronto, Ontario M5H 3B8
    (416) 362-2592 (FAX)
    (416) 947-2578