MONTREAL, Oct. 16,
2024 /CNW/ -- Tecsys Inc. (TSX: TCS), (the
"Corporation"), announces that the executive chairman of the board
of directors of the Corporation, Dave
Brereton, together with his spouse, Ms. Kathryn Ensign-Brereton, established an
automatic securities disposition plan (the "ASDP") in
accordance with applicable securities legislation and the
Corporation's internal policies. The ASDP has been established by
Mr. Brereton and Ms. Ensign-Brereton for personal and
financial planning purposes and Mr. Brereton, directly and
through his holding company, Dabre Inc., and
Ms. Ensign-Brereton will continue to hold a significant equity
interest in the Corporation following the disposition of the common
shares of the Corporation (the "Common Shares") under the
ASDP.
The ASDP permits trades to be made in accordance with
pre-arranged instructions given that neither Mr. Brereton nor
Ms. Ensign-Brereton was in possession of any material undisclosed
information at the time the instructions were given. The ASDP will
be effective on the second trading day following the date on which
the Corporation has filed its interim financial statements for the
quarter ending October 31, 2024.
Up to 96,000 Common Shares (the "Subject Shares"),
representing approximately 0.7% of the issued and outstanding
Common Shares, may be sold or donated by Mr. Brereton, as to
50%, and Ms. Ensign-Brereton, as to 50%, under the ASDP. The
ASDP is designed to allow for an orderly disposition of the Subject
Shares at prevailing market prices over the course of the 12-month
period that sales and donations under the ASDP are expected to take
place.
Mr. Brereton and Ms. Ensign-Brereton have provided
pre-arranged instructions in writing to the broker administering
the ASDP, including that the proportion of Subject Shares to be
sold will be 60% and the proportion of Subject Shares to be donated
will be 40%, and setting out minimum trade prices. The ASDP
prohibits the broker from consulting with Mr. Brereton or
Ms. Ensign-Brereton regarding any sales under the ASDP and
prohibits Mr. Brereton or Ms. Ensign-Brereton from
disclosing to the broker any information concerning the Corporation
that might influence the execution of the ASDP. The ASDP has been
authorized by the Corporation and contains meaningful restrictions
on the ability of Mr. Brereton and Ms. Ensign-Brereton to
amend, suspend or terminate the ASDP.
This announcement is made and will be available on SEDAR+ at
www.sedarplus.ca pursuant to the recommended practices set forth in
Staff Notice 55-317 - Automatic Securities Disposition Plans
of the Canadian Securities Administrators. Information regarding
the ASDP and transactions thereunder, as the case may be, may be
accessed on SEDI at www.sedi.ca.
About Tecsys
Tecsys is a global provider of advanced supply chain solutions.
With a commitment to innovation and customer success, the company
equips organizations with the essential software, technology and
expertise needed for operational excellence and competitive
advantage. Its cloud solutions serve a diverse range of industries,
including healthcare, distribution and converging commerce, across
multiple complex, regulated and high-volume markets. Built on the
Itopia® low-code application platform, Tecsys' offerings include
enterprise resource planning, warehouse management, consolidated
service management, distribution and transportation management,
supply management at the point of use and order management
solutions. Tecsys provides critical data insights and control
across the supply chain, ensuring that organizations are agile,
responsive and scalable.
Tecsys is publicly traded on the Toronto Stock Exchange under
the ticker symbol TCS. For more about Tecsys and its solutions,
please visit www.tecsys.com.
Copyright © Tecsys Inc. 2024. All names, trademarks, products,
and services mentioned are registered or unregistered trademarks of
their respective owners.
SOURCE Tecsys Inc.
