Walter Financial

January 15, 2014 09:15 ET

Walter Financial Sells Shares of Logistec Corporation to Rebalance its Investment Portfolio

MONTREAL, QUÉBEC--(Marketwired - Jan. 15, 2014) - 159584 Canada Inc. (doing business as Walter Financial), a private company controlled by Mr. Pierre Somers, announced today that it has entered into an agreement pursuant to which GMP Securities L.P. and National Bank Financial Inc. will purchase for resale 425,000 class B subordinate voting shares of Logistec Corporation ("Logistec") held by Walter Financial (the "Secondary Sale").

Following the closing of the Secondary Sale, which is expected to occur on or about January 17, 2014, Walter Financial will hold (i) 844,100 class B subordinate voting shares, representing approximately 31.52% of the issued and outstanding class B subordinate voting shares, (ii) 515,300 class A common shares, representing approximately 13.78% of the issued and outstanding class A common shares, and (iii) approximately 14.19% of the total voting rights attached to all outstanding shares of Logistec.

Walter Financial is completing the Secondary Sale to rebalance its investment portfolio and will continue to review its holdings in Logistec from time to time and may, depending on market and other conditions, increase or further decrease its position in Logistec as it may determine appropriate for investment purposes.

Contact Information

  • Walter Financial
    Rene Fournier
    Chief Investment Officer
    514 932-3898