Share Conversion - Bhayana Management Ltd.
12 Juillet 2018 - 1:05AM
Bhayana Management Ltd. ("Bhayana"), a company controlled
indirectly by Madan Bhayana, today converted 2,000,000 Class A
Multiple Voting Shares into Class B Subordinated Voting Shares on a
one-for-one-basis. The Class B Subordinated Voting Shares are
listed on The Toronto Stock Exchange. (TMX:INQ)
The share conversion will allow Mr. Bhayana to
generate liquidity upon eventual sale of the Class B Subordinated
Voting Shares. After the conversion, Bhayana together with its
affiliates continues to hold 3,345,881 Class A Multiple Voting
Shares, being all of the remaining issued and outstanding Class A
Multiple Voting Shares, and 3,541,200 Class B Subordinated Voting
Shares or 32.09 percent of the issued and outstanding Class B
Subordinated Voting Shares on a non-diluted basis.
There are now 3,345,881 Class A Multiple Voting
Shares and 11,034,820 Class B Subordinated Voting Shares of Inscape
Corporation issued and outstanding.
Mr. Bhayana said: “Now that I have ceased active
involvement as Chair of the Board of Inscape, I have elected to
convert these shares to provide more liquidity which also allows me
to support some of my own charitable endeavors and personal
initiatives.”
About InscapeInscape is a design enabler. We
have been saying yes since 1888 with a versatile portfolio of
systems, storage and walls products that are adaptable and always
built to last. With a wide dealer network, showrooms in both Canada
and the U.S., and full service and support for all of our clients,
our philosophy is to always do what we can to say Yes.
For further information, visit
www.inscapesolutions.com.
Investor Contact Aziz Hirji, CPA, CA Chief
Financial Officer Inscape Corporation 905-836-7676,
x3351ahirji@inscapesolutions.com
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