Genesis Worldwide Inc.

Genesis Worldwide Inc.

May 14, 2008 09:49 ET

Genesis Worldwide Inc. Announces Director Dealings and Notification of Holdings by Significant Shareholder

MISSISSAUGA, ONTARIO--(Marketwire - May 14, 2008) - Genesis Worldwide Inc. ("Genesis" or the "Company"), (TSX:GWI)(AIM:GWI), a leading provider of 'green' structural building technology using light steel, announces that on May 8, 2008, a director of the Company, Timothy Armstrong, purchased 2,500 common shares of Genesis at a price of $1.40 per share and now holds a total of 2,500 common shares, representing 0.008% of the issued share capital of the Company.

Also, on May 6, 2008, the Company was notified by Turtle Creek Asset Management Inc. ("Turtle Creek"), an investment management company located in Toronto, Ontario, Canada, that it now holds 3,401,400 common shares of the Company, representing 11.0% of the issued share capital of the Company. Turtle Creek holds the common shares on behalf of a number of shareholders and manages and exercises control or direction over the common shares on behalf of those shareholders.

As at May 14, 2008, the Company had 30,982,858 common shares outstanding.

About Genesis Worldwide Inc.

Genesis develops and licenses structural building technology aimed at the residential, commercial and institutional building markets. Genesis offers licensees a turn-key solution enabling them to custom design, manufacture and install complete light steel building structures. The Genesis Solution encompasses engineered processes and materials that are environmentally sustainable or 'green'. Genesis is headquartered in Mississauga, Ontario, Canada, and currently has nine licensees worldwide.

Contact Information

  • Genesis Worldwide Inc.
    Catherine Smyth
    Manager, Investor Relations
    (905) 285-9909, ext. 302
    Canaccord Adams
    Robert Finlay
    +44 020 7050 6500