July 13, 2007 14:39 ET

Optimum Group Inc. Announces the Increase of its Direct Interest in Optimum General Inc.

All Amounts are in CDN$

MONTREAL, QUEBEC--(Marketwire - July 13, 2007) - OPTIMUM GROUP INC. (TSX:OGI.A) announces that it has increased its direct interest in OPTIMUM GENERAL INC. Indeed, on July 13, 2007, OPTIMUM GROUP INC. acquired from its affiliated companies OPTIMUM VIE S.A., of Paris, France, and OPTIMUM REASSURANCE INC. and QUEFRAN INC., of Montreal, Quebec, and from NILUCAN INC., of Montreal, Quebec, by way of private agreements the ownership of 729,700 Class A Subordinate Voting Shares of OPTIMUM GENERAL INC. Therefore, since September 8, 2005, OPTIMUM GROUP INC. has purchased directly 732,800 Class A Subordinate Voting Shares of OPTIMUM GENERAL INC. and accordingly increasing from 3,969,050 (89.70%) to 3,989,150 (90.15%) the number of shares of this class owned by OPTIMUM GROUP INC. itself or through its affiliated companies. Taking into account the Class B Multiple Voting Shares, the percentage of interest and the percentage of voting shares held by OPTIMUM GROUP INC. and its affiliated companies remain relatively the same, being 96.28% and 98.34% respectively.

These private transactions were made at the price of $4.70 per share, which does not vary by not over 15% from the average market price determined in accordance with applicable securities legislation. These transactions were made for investment purposes by OPTIMUM GROUP INC.

OPTIMUM GROUP INC. does not intend in the immediate future to increase significantly in any other manner its interest in OPTIMUM GENERAL INC.

OPTIMUM GROUP INC. is an international financial group active in property and casualty insurance, life insurance, life reinsurance, consulting and financial services. Founded in 1969, the Group is active in Canada, the United States and France. The head office of OPTIMUM GROUP INC. is located at 425 de Maisonneuve Boulevard West, Suite 1700, Montreal, Quebec H3A 3G5.

Contact Information

  • Optimum Group Inc.
    Mr. Jean-Claude Page
    President and COO