IBI Group Management Partnership II

IBI Group Investment Partnership

December 27, 2017 13:28 ET

IBI Group Management Partnership II and IBI Group Investment Partnership Complete Sale of 850,000 Common Shares of IBI Group Inc.

TORONTO, ONTARIO--(Marketwired - Dec. 27, 2017) - IBI Group Management Partnership II ("GMPII") and IBI Group Investment Partnership ("GIP" and together, the "Management Partnerships") completed the sale of 853,053 common shares ("Shares") of IBI Group Inc. ("IBI") at a price of C$7.85 per share for total proceeds of C$6,696,466. The disposition was effected through the facilities of the Toronto Stock Exchange by way of cross trades to two institutional investors on December 21, 2017. In connection with the transaction, the Management Partnerships paid a brokerage commission in the amount of C$17,016.

Prior to the sales GMPII owned 353,070 Shares representing approximately 1.1% of the outstanding Shares and GIP owned 7,164,047 Shares representing approximately 23.0% of the outstanding Shares. The Management Partnerships together with their affiliates held, prior to the sale, 7,763,329 Shares representing approximately 24.9% of the outstanding Shares.

Following the sale GMPII continues to hold 10,000 Shares and GIP continues to hold 6,654,064 Shares, together representing approximately 21.4% of the outstanding Shares.

The sale of Shares by the Management Partnerships support succession planning among the members of the Management Partnerships. Following the completion of the transaction, the Management Partnerships, together with their affiliates, continue to hold 6,910,276 Shares and 6,282,222 Class B Partnership Units of IBI Group that are convertible into an additional 6,282,222 Shares which together represent 35.2% of the outstanding Shares (assuming conversion), maintaining a strong level of alignment with all other IBI shareholders. The Management Partnerships have no current plans or intentions to sell additional Shares at this time.

This press release is being issued pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators.

For further information or to obtain a copy of the early warning report:

Scott Stewart
Managing Director
IBI Group Management Partnership II
IBI Group Investment Partnership
55 St. Clair Avenue West
Toronto, ON M4V 2Y7
Tel: 416-596-1930

About IBI Group Inc.

IBI Group Inc. (TSX:IBG) is a globally integrated architecture, planning, engineering, and technology firm with over 2,500 professionals around the world. For more than 40 years, its dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. IBI Group believes that cities must be designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch. IBI Group is a lead partner of the Smart Cities Council North America.

Contact Information

  • 55 St. Clair Avenue West
    Toronto, ON M4V 2Y7
    Tel: 416-596-1930