Dominion and Anglo Investment Corporation Limited

June 03, 2016 09:16 ET

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

TORONTO, ONTARIO--(Marketwired - June 3, 2016) - Dominion and Anglo Investment Corporation Limited ("Dominion and Anglo") announces that it acquired a further 5,670 Common Shares of E-L Financial Corporation Limited ("E-L Financial") on June 2, 2016, increasing its ownership from 1,378,323 (34.29%) of the Common Shares to 1,383,993 (34.43%) of the Common Shares. Dominion and Anglo has an informal understanding with other shareholders of E-L Financial under which they act jointly or 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 2,906,739 (72.31%) of the Common Shares to 2,912,409 (72.45%) of the Common Shares. The purchase was effected through the facilities of the Toronto Stock Exchange for consideration of $695.00 per share, or $3,940,650.00 for the 5,670 Common Shares. 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 4.1 of National Instrument 62-104 Take-Over Bids and Issuer Bids ("NI-104") of the Canadian Securities Administrators. The normal course purchase exemption is available as Dominion and Anglo's purchase of 5,670 Common Shares (together with any other purchases in the preceding 12 months made by Dominion and Anglo and any person acting jointly or in concert with Dominion and Anglo) did not exceed 5% of the outstanding Common Shares; the Common Shares are listed on the Toronto Stock Exchange; and, the value of the consideration paid for the Common Shares did not exceed the market price (as defined in NI 62-104), plus reasonable brokerage fees or commissions actually paid.

The address of each of E-L Financial and Dominion and Anglo is 165 University Avenue, Tenth Floor, Toronto, Ontario M5H 3B8.

Contact Information

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